Deloitte to recruit KPMG Partners as Deal Street heats up: Report

livemint.com:

The Economic Times, Rohit Berry, the former national head of deal advisory at KPMG, and Vivek Gupta, who was responsible for leading KPMG's M&A/private equity tax and family office practices, are also joining Deloitte as part of this recruitment effort. According to sources reported by ET, negotiations are currently in progress, and KPMG is making efforts to retain the departing talent despite the significant recruitment moves made by Deloitte.

In 2017, KPMG merged the transaction and risk advisory practice of the former BMR Advisor, which consisted of 12 partners and 100 professionals. Notably, both Rohit Berry and Vivek Gupta were part of this team during the merger.

Amid the Big Four accounting firms engaging in significant and intricate M&A investment banking deals, this team movement is occurring. Over the past couple of months, individual executive interviews have been taking place, and while the exact count of professionals transitioning is yet to be confirmed, it is expected that around 130-150 executives will likely make the move, considering the number of partners involved.

In December 2022, a high-ranking executive from Deloitte informed ET that for the past 2-3 years, the company has been adopting a broader perspective on M&A, going beyond the conventional focus on transaction advisory and traditional divisions such as corporate finance, diligence, or valuations. “The intent of this end-to-end M&A offering is to leverage our firm-wide strength," he said.