The beginnings of the firm go back to the 19th century, the period in which the founding firms were forming.
Beginnings are important – they set in motion everything that is to come. We’re proud of our history, which spans across three centuries, and the businesses we’ve helped over the years. With offices across the globe, and roots dating back to 1867, the KPMG of today formed in 1987 through a merger of Peat Marwick International (PMI) and Klynveld Main Goerdeler (KMG) and their individual member firms.
The KPMG network of firms that now operates in 152 markets worldwide was established in 1987 and at the time, it was the biggest merger in the history of the accountancy sector, while the company’s name derives from the initials of the constituent firms, our founding fathers.
History of the firm’s name
When the industrial revolution of the late eighteenth and nineteenth century helped transform accounting into a profession, KPMG’s founding fathers were center stage, pioneering the industry.
The company’s name KMPG is an acronym formed by the initials of the key founding companies:
William Barclay Peat
William Barclay Peat (the P in KPMG) started his career in accountancy at just 17, working for Robert Fletcher & Co. He quickly rose through the ranks, and in 1891, Peat assumed leadership of the firm, and renamed it William Barclay Peat & Co.
In 1897, the US firm Marwick, Mitchell & Company got its start in New York City. The company was formed by James Marwick (the M in KPMG) and Roger Mitchell – both Scottish immigrants. It wasn’t easy establishing a firm in the city – many thought there was no place or need for accountants, but the two soon built a strong reputation.
Meanwhile, in 1917 Piet Klynveld (the K in KPMG) opens small accounting firm in Amsterdam. Jaap Kraayenhof joins and firm becomes Klynveld Kraayenhof & Company (KKC). By the time Klynveld passed away in 1946, he left behind the largest accounting firm in the Netherlands.
The last of our founding fathers, Reinhard Goerdeler (the G in KPMG) comes into the story almost half a century later in 1953, when he joined Deutsche Treuhand-Gesellschaft (DTG).
History of KPMG in Croatia
KPMG was one of the first of the international audit and advisory companies to enter the Croatian market.
1991 KPMG starts operation in Zagreb, Croatia
1993 Registration of KPMG Croatia d.o.o.
2000 Registration of KPMG BH d.o.o. and openining of office in Sarajevo
2003 Registration of KPMG savjetovanje d.o.o. in Croatia