KPMG chief rules out split as UK revenues soar

LOUIS GOSS

KPMG’s UK business yesterday posted double-digit revenue growth for the second year in a row on the back of fast-paced expansion in its consulting and M&A deals advisory divisions.

In an interview with City A.M., KPMG UK’s chief executive Jonathan Holt said the “very strong financial performance” signalled the strength of KPMG’s “multidisciplinary” model, as he rejected notions the firm might follow EY in pursuing a global split.

Holt doubled down on KPMG’s model, which involves the firm’s audit and advisory arms working as a single unit, arguing that it “helped us weather the ups and downs of the economic cycle.”

The KPMG chief, who took away a payout worth £2.72m last year, said “we’re not