DANISH arm of KPMG announced yesterday that it is to be merged into EY’s global operations, a major victory for the firm formerly known as Ernst & Young over its big four rival.
Jesper Koefoed, head of KPMG’s branch in Denmark said that the organisation’s strong local market position would be beneficial in combination with EY’s international position.
According to Koefoed, Denmark’s KPMG wing is the third largest accounting and consultancy body in the country.
Denmark’s EY arm, which is the fifth largest, said that it would not comment on the merger until the deal was approved by the country’s regulatory authorities, which are expected to make a decision in 2014.
KPMG Randers, a municipal arm of the group, was acquired by Baker Tilly’s Danish branch two years ago.
Earlier this month, KPMG’s previous head of private client tax practice, David Kilshaw, went to work for EY’s tax team as a partner.
KPMG global head Michael Andrew confirmed the move, but said that he hoped many members of staff would choose to remain with the company. He added that KPMG would continue to have a presence in Denmark.