2008
Solid growth for KPMG in Switzerland
KPMG Switzerland generated net sales of CHF 375 million (gross: CHF 424 million) in the last financial year as of September 30, 2008, which is equivalent to a 7 percent increase. Sales of Audit services increased well above the industry average while Tax services posted double digit growth. Some Advisory service lines also reported outstanding results. The merger of national member firms in the UK, Germany, Switzerland, Spain, Belgium, and the Netherlands to form KPMG Europe LLP, the largest fully integrated Audit and Advisory services company in Europe, has been a key factor in achieving solid, organic growth in a turbulent economic environment.
12/19/2008
Hubert Achermann appointed Lead Director of KPMG International
At its meeting in Sydney, the Global Board of Directors of KPMG International, the global network of 144 KPMG international member firms, appointed KPMG Switzerland CEO Hubert Achermann as the Group's first ever Lead Director. In light of KPMG's revised global governance, this newly-created position is of considerable importance. The appointment of Hubert Achermann, who will continue to perform his duties as CEO of KPMG Switzerland, also underlines the significance of Europe within the KPMG network.
12/17/2008
New Middle East capacity threatens European chemical industry
An international KPMG study highlights the squeeze that European chemical companies are facing. The rapid expansion of the Middle Eastern chemical industry could mean global overcapacity as a recession looms. In order to remain competitive, European companies need to consider innovation, offshoring and M&A.
12/15/2008
Changing the way we will travel - the 2008 KPMG Tomorrow's Market Award
What is the most efficient way to travel for a given route: train, plane, bus, automobile? Routerank, winner of the 2008 KPMG Tomorrow's Market Award, allows you to combine all of the different methods of transportation, aiming to make choosing transportation simple, while letting you use criteria as varied as price, travel time and environmental impact.
11/13/2008
Personal income tax rates still trending down worldwide
A global survey by KPMG on personal income taxation shows that maximum tax rates were cut in 33 out of 87 countries between 2003 and 2008. Europe's tax rates on personal income remain the highest, while Latin America's are the lowest. Switzerland (based on the city of Zurich) is in the upper-middle tier internationally, and it offers a coherent tax policy in terms of individual and corporate taxation. The survey also reveals that the adoption of flat tax models is also becoming more widespread.
11/13/2008
New Head of Public Relations at KPMG
As Head of Public Relations, Andreas Hammer will be responsible for KPMG Switzerland's external communications as of November 1, 2008. He will replace Stefan Mathys, who after seven and a half years in this position will become self-employed.
10/31/2008
Corporate Responsibility as a strategic factor
New KPMG Survey Finds Environmental, Social and Governance Reporting mainstreaming among the world's largest companies. In Switzerland there are still considerable differences in reporting between international companies and mid-sized companies.
10/27/2008
John Griffith-Jones named Chairman of KPMG's EMA
Alan Buckle to head KPMG's Global Advisory practice
John Griffith-Jones has been appointed as Chairman of KPMG's EMA (Europe, Middle East, Africa and India) region. EMA is the largest of KPMG's three regions, comprising more than 3,000 partners and 55,000 staff in 105 countries.
10/17/2008
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.
10/07/2008
Sovereign wealth funds - the new global investors
The capital injection UBS received from Singapore last year brought sovereign wealth funds (SWFs) to the attention of the Swiss public for the first time. SWFs seem set to play a vital role in the future as investors in Western and Swiss companies. Private Equity Intelligence estimates that their investments total somewhere between USD 120 billion and 150 billion, equivalent to something like ten per cent of the global private equity market, and that they are growing.
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10/01/2008
Tobias Valk new Head of Transaction Services
Tobias Valk will become Head of Transaction Services (TS) of KPMG Switzerland as of October 1, 2008. He succeeds Bryan DeBlanc who has led TS since 2002. Bryan will dedicate his time to lead KPMG's multidisciplinary Growth through M&A initiative and lead several key client relationships.
09/30/2008
KPMG receives definite license from the Swiss Federal Audit Oversight Authority
KPMG AG and KPMG Klynveld Peat Marwick Goerdeler SA have received their definite licenses as audit firms under state oversight from the Swiss Federal Audit Oversight Authority on 17 September 2008.
09/18/2008
Switzerland performs better in worldwide corporate tax comparison
Switzerland has again improved its performance in a comparison of corporate tax rates in 106 countries. South-Eastern European states are once again at the top of the table, and there is evidence of a trend away from the taxation of company profits and towards taxing consumption.
09/10/2008
Global deal environment set to deteriorate into H2 2008, claims KPMG's Global M&A Predictor
KPMG's Global M&A Predictor forecasts a continued fall in global merger and acquisition activity (M&A), into the second half of 2008. With KPMG's forward looking corporate valuations down 10 percent compared to six months ago. Having accurately called the top of the M&A market a year ago, the latest version of the Predictor provides compelling evidence of a decreasing appetite for deals and deterioration in the capacity to do deals globally.
07/14/2008
Fund managers worldwide mourn the loss of investor confidence
60 percent of fund managers worldwide believe that they have lost investor confidence as a result of the subprime crisis. The reason is clear; investors are less keen to invest in complex investment products than are the fund managers working for them. Approximately half of all fund managers have investments in private equity and asset-backed securities and one-third in collateralized debt obligations (CDOs).
07/02/2008
Strategic financial planning of Swiss companies
Financial projections are the basis for all strategic financing decisions. The lion's share of the companies surveyed have a strategic financial plan. There are, however, still companies who have yet to develop a sound financial strategy. Of the 16 percent of companies that do not plan strategically, 50 percent reported that long-term planning was simply not possible.
06/24/2008
KPMG's member firm in Spain has voted to join KPMG Europe LLP alongside the U.K, Germany and Switzerland in a move which will enhance the merged firm's position as Europe's largest fully integrated accountancy firm. The Spanish practice of KPMG has grown very successfully over the last three years. In the year to September 2007, revenues were Euro 175m.
06/23/2008
China overtaking US in direct investments
The US is still the leading destination for direct investment from abroad. However, within five years, China will have nudged the US from the top spot and India is set to post the largest growth in terms of corporate investment during this period. In future, China and Germany will have the greatest significance for Switzerland.
06/16/2008
Business codes pay scant attention to shareholders
Surprisingly, shareholders get short thrift in the codes of conduct adopted by companies. A business code of conduct describes not only a company's mission and core values, but also its obligations towards its stakeholders - including shareholders, workforce, consumers, as well as the people living or working in the vicinity of the company's site(s).
06/10/2008
Ever-increasing regulatory demands, the push to open up new markets, globalization pressure, an active M&A environment, problems with succession planning and setting up appropriate risk management are just a few of the challenges and trends that face mid-sized Swiss companies. A new study from KPMG takes a closer look at key market segments.
05/20/2008
Alain Guillaume named as new head of KPMG in Neuchâtel
Alain Guillaume (39) joined KPMG in 1995. A graduate in economics from the University of Neuchâtel and a certified public accountant, he has solid experience in managing national and international engagements. He became the new manager of the Neuchâtel office on May 1, 2008.
05/19/2008
Beware the siren call of the weakening dollar
As the U.S. dollar continues to struggle against other leading world currencies, M&A commentators at professional services organization KPMG have warned acquisitive companies to beware the 'siren call' of the faltering green-back.
04/09/2008
Six major industry sectors are in particular danger from climate change risks. Aviation, healthcare, tourism, transport, oil and gas and the financial services sector all feature in the "danger zone" in a report on climate change risks from KPMG - meaning that they score highly on the risks which face them yet score poorly in terms of their preparedness to face these risks.
04/03/2008
M&A Yearbook - KPMG's overview of mergers and acquisitions in Switzerland in 2007
Swiss bidders continued to acquire more targets abroad than foreign bidders acquired in Switzerland, thus refuting the claim that Swiss industry is losing its global foothold. This is one of the findings from the 2007 M&A Yearbook conducted by KPMG. This second edition of the Yearbook shows an increase in deal activity of around 25 percent, measured by the number of deals announced.
02/05/2008