KPMG Promotes 42 New Equity Partners Amid Recovery Hopes
- KPMG has added 42 new equity partners to its ranks, its first expansion in four years.
- This move aims to revitalize the firm after undergoing a sector-wide slowdown and reducing its partner numbers.
- The firm anticipates growth in demand for its professional services in the future.
KPMG has made significant progress by promoting 42 employees to its partnership ranks, marking its first increase in four years. This decision comes as the firm aims to enhance its competitive edge after experiencing a contraction in the consulting sector. Following a notable decline in partnership numbers, from 550 to their lowest since 2002 earlier this year, the firm sees these promotions as critical to fostering growth and recovery. In addition to internal promotions, KPMG has also welcomed external hires to bolster its partnership. With approximately 18,000 employees in the UK, the firm provides a range of professional services including auditing, consulting, and tax advice, anticipating that the demand for these services will rise in the coming years.