KPMG, the professional services firm, today confirms that it has signed a conditional agreement to sell its market-leading UK pensions practice to NewCo, which is backed by private equity firm Exponent and KPMG UK’s current pensions partners.
Once completed, the sale will see all 20 partners and circa 500 staff currently employed in KPMG’s UK pensions practice transfer to the NewCo.
Andrew Coles, currently UK Head of Pensions at KPMG, will be NewCo’s Chief Executive Officer.
The company will announce further details upon completion.
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 16,300 partners and staff. The UK firm recorded a revenue of £2.338 billion in the year ended 30 September 2018. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 154 countries and has 200,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
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