Boost to combined firm's capability
The partners of KPMG in Saudi Arabia have voted by an overwhelming majority to join KPMG Europe LLP ("ELLP"). This takes the number of countries in the firm to sixteen, alongside the UK, Germany, Switzerland, Spain, Belgium, the Netherlands, Norway, Luxembourg, CIS (Russia, Ukraine, Kyrgyzstan, Kazakhstan, Armenia and Georgia) and Turkey.
The combined firm will have over 30,000 partners and staff working from over 120 offices - with revenues of over USD5 billion. Key sectors for growth and investment over the coming years include energy and natural resources, financial services, public sector including education and healthcare, and performance & technology services - with plans for KPMG ELLP to increase its headcount by around 8,000 people in the next three years.
KPMG Europe LLP has strong public sector practices and, with high demand across geographies for advisory services on oil & gas and infrastructure issues, the addition of Saudi Arabia to ELLP will significantly extend the firm's capabilities and depth of resource in these key areas.
John Griffith-Jones and Rolf Nonnenmacher, Joint Chairmen of ELLP, said: "We warmly welcome the decision of the partners in KPMG Saudi Arabia to join ELLP. We are already seeing clear benefits for both our clients and our people from being more closely aligned and are delighted to extend these benefits to Saudi Arabia."
Abdullah Al Fozan, Chairman at KPMG Saudi Arabia, commented: "KPMG has built a strong firm in Saudi Arabia with the drive and enthusiasm of a strong management team. Our committed and dedicated people are leaders in their fields working alongside clients who are amongst the most prestigious organisations in the Kingdom. The fact that KPMG won first place in Saudi Arabia's 'Best Company to Work for' survey for 2010 and the numerous other awards we have received is testament to the motivation of everyone involved."
"We are operating in a huge marketplace and our move to join KPMG ELLP reflects the needs we see in the market for leading subject matter expertise and increased bandwidth to help deliver the large projects that the Saudi economy needs right now to meet its ambitious investment and growth plans."
Andrew Jackson, CEO of the Saudi firm, added: "Our growth and recognition would not have been achieved without the support and investment by KPMG. Joining ELLP is a natural move which will benefit our clients and our people by making available a very large pool of talent and opportunity."
KPMG Saudi Arabia
KPMG in Saudi Arabia employs 450 partners and staff and recorded revenue of over USD40 million in 2010. It is a full service practice, offering Audit, Tax and Advisory services with a strong market share in public sector and infrastructure advisory work as well as the financial services sector and large family owned businesses. The firm has long established offices in the 3 major cities of Riyadh, Jeddah and Al Khobar.
-Ends-
KPMG is the global network of professional services firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity, that provide audit, tax and advisory services. KPMG Europe LLP, a UK limited liability partnership, is the legal entity which effectively controls the member firms of the KPMG network that have elected to merge with it ("'KPMG Europe LLP firms"). KPMG Europe LLP and KPMG International provide no client services. KPMG Europe LLP firms operate in 16 countries across Europe with over 30,000 partners and staff. The "KPMG Europe LLP group" means KPMG Europe LLP, and KPMG Europe LLP firms. The KPMG Europe LLP group recorded consolidated revenues of €3.5 billion and pro-forma revenues for the 16 countries for 2009 totalled €4.7 billion.
Media enquiries to:
Tim Rockell, Director of Sales & Markets, KPMG in Saudi Arabia
Tel +966 3 887 7241 Mobile +966 559746698
Gavin Houlgate, Director of Communications, KPMG in the UK
Tel: +44 (0)207 694 3902
Mobile: +44 (0)7795 290855
© Press Release 2010
