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September 4, 2011

Grant Thornton adds former PKF Denmark member

‘Grant Thornton International has added PKF Kresten Foged as the network’s new member firm in Denmark after PwC acquired its former member in May.

PKF Kresten Foged, which will change its name to Grant Thornton, has nine partners and 50 staff.

Grant Thornton International chief executive Ed Nusbaum said the network believes this addition is a “ground breaking move” to create a strong presence in Denmark.

PKF Kresten Foged senior partner Jørgen Anker Nielsen said Grant Thornton has a very strong reputation in Denmark and is proud to have been selected to join the network.

“This puts us in a unique position to provide distinctive client service to clients as well as challenging careers for ambitious professionals. We have already committed to building our presence in Copenhagen to 125 people within the next 12 months and will expand in other locations over the next three years,” Nielsen said.

In response to PwC acquiring Grant Thornton International’s former member Nusbaum said these types of takeovers will reduce competition in the public company audit market and “may give rise to further concerns by regulatory authorities and the European Commission”.

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