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KPMG Chief Hints at Future Restructuring LONDON, Sept. 18, 2000 (AccountancyMagazine.com) The United Kingdom's second largest accountancy firm, KPMG, could move from a nationally controlled practice to a three pan-regional controlled practice following comments made by its chairman that the tradition of giving national practices a high degree of autonomy was outdated and becoming more unwieldy. In an interview with this weekend's Financial Times, Steve Butler said he did not believe that any one of the big firms gave clients the increasingly global service they now required. Butler said that the process of trying to bring in expertise from other parts of the firm to the national firm was "sometimes ... painful, sometimes ... slow." But it was "the boundary [the firm was] trying to remove." Under restructuring plans, Butler would like to see decision-making and governance responsibilities move to three separate power bases: the Americas, Asia and Europe, and the Middle East and Africa. National firms would still exist but would become "less and less meaningful in terms of how we manage the business," he said. Butler also expressed confidence that KPMG would gain the regulatory approval needed to float sections of its consulting arm. Send comments to information@smartpros.com. Copyright 2000 AccountancyMagazine.com. Used with permission. Back to International NewsLine 2000, AccountancyMagazine.com. Used with permission. |
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