KPMG completes merger to become Europe's largest professional services firm
KPMG Switzerland has merged with the international member firms in Germany, the United Kingdom and Spain to form KPMG Europe LLP, effective as of 1 October 2008. The merger creates the largest fully integrated professional services firm in Europe.
On 17 September 2008, KPMG AG and KPMG Klynveld Peat Marwick Goerdeler SA were registered by the Swiss Federal Audit Oversight Authority (RAB) as an auditing firm subject to state supervision. This registration is based on the Swiss Audit Oversight Act (RAG), which entered into force on 1 January 2008. It paved the way for the merger of KPMG Switzerland with the international member firms in Germany, the United Kingdom and Spain, effective as of 1 October 2008. KPMG is the first professional services firm to apply the more relaxed provisions of the 8th EU Directive for the purpose of complete integration. KPMG Europe LLP is now the largest fully integrated professional services firm in Europe.
The merger includes structural changes at the company management level. Individuals who previously were members of the Executive Committee are now Executive Board Members. They will continue to have the task of managing KPMG Switzerland within the framework of the strategy laid down and monitored by KPMG Europe LLP's Board of Directors. KPMG Switzerland's current Board of Directors under the chairmanship of Philipp Hallauer will resign as directors while continuing to assist and advise the management as a committee of partners.
Zurich, October 7, 2008
For additional information, please contact:
KPMG AG
Stefan Mathys
Head of Public Relations
Tel: +41 44 249 27 74
Mobile: +41 79 227 98 31
E-mail: kpmgmedia@kpmg.ch
www.kpmg.ch