KPMG India, US, and UK in talks for landmark advisory practices merger
economictimes.indiatimes.comKPMG India, KPMG US, and KPMG UK are in talks to merge their advisory practices—consulting, risk, tech consulting, and deal advisory—in an industry-first move to scale up its consulting services, which have been driving the firm’s growth in India, said multiple people with knowledge of the matter.
The combined entity will invest aggressively in scaling up the India advisory practice and growing client servicing capabilities in India.
Notably, the tax and audit practice—managed through affiliate BSR & Co— will likely remain separate, although this detail is still under discussion.
Termed «Project Himalaya» within KPMG, this endeavour has been quietly underway for several months and is spearheaded by KPMG India's CEO, Yezdi Nagporewalla, along with select partners.
The new entity, when formed, is expected to soon grow to 50,000 people in its fold, and combined revenue just from India platforms would be more than $1 billion.
KPMG's CEO shared a glimpse of this proposal with Indian partners at the ongoing Delhi partners' meeting.
KPMG India currently employs around 20,000 individuals in India and an additional 20,000 in KGS, its global capability centers.
KPMG did not respond to the ET questionnaire.
As of now, specific details are being worked out, with insiders suggesting that KPMG India will operate under a similar structure in the near future.
The firm has experienced robust growth, notably a 30% increase in the last two years, with substantial contributions from technology consulting and risk service lines.
