Norway and Saudi Arabia to join KPMG Europe LLP
The partners of KPMG in Norway and 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, 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 €4.7bn. Key sectors for growth and investment over the coming years include energy and natural resources, financial services, public sector including healthcare, and performance & technology - with plans for country firms within ELLP to increase headcount by around 8,000 people in the next three years.
The two joining firms have strong energy and natural resources and public sector practices and, with high demand across geographies for advisory services on oil & gas and infrastructure issues, the addition of both Norway and 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 Norway and 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 to both joining countries. Their local expertise in energy and natural resource issues in particular will help us bring even deeper insight to our clients in what is a priority global growth area.”
KPMG Norway is a full service firm with around 900 partners and staff, and 24 offices. Turnover for the 2009 year end was over €120 million. Oil and gas represents around 15 percent of KPMG Norway's revenue, with the sector growing by over 25 percent in the last year.
Stein-Ragnar Noreng, senior partner in KPMG Norway said: "Our clients and employees increasingly are more internationally focused. With even better access to international specialists in all industries, we will further strengthen our offerings to clients. Existing and future ELLP clients will benefit from our own experts and provide exciting international opportunities for our employees. Joining ELLP is a natural move in building our position as the fastest growing firm among the "Big 4” in Norway for two consecutive years.”
KPMG Saudi Arabia
KPMG in Saudi Arabia employs 450 partners and staff and recorded revenue of €31.5 million in 2010. It is a full service practice, 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.
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.”
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.”