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July 15, 2008

News Briefs

PwC Sweden merges with Ranby Björklund… Chinese firm unveils growth plans… Kreston expands in Venezuela… PwC UK reveals insurance head…

MERGERS AND ACQUISITIONS PwC Sweden merges with Ranby Björklund

Swedish firm Öhrlings PricewaterhouseCoopers (PwC) is to merge with audit firm Ranby Björklund. A former RSM International member, Ranby Björklund is based in Stockholm and has about 60 staff. PwC vice president Hans Börsvik said: “The merger shows PwC’s recognition of audit as an important service in the future, in a demanding market.” Ranby Björklund chief executive Ulf Hartell Borgstrand added: “We see it as an important strategic decision to become a part of PwC when we see that our customers have a need for the breadth of services they can offer. We are now getting a bigger platform, which feels like the right step in our development.”

RECRUITMENT Chinese firm unveils growth plans

KPMG China has appointed 35 partners to support the firm’s expansion and embrace challenges and opportunities in growing markets. Over the past three years the firm has doubled the size of its workforce to more than 7,000 people and it plans to grow to 10,000 people by 2011.

MERGERS AND ACQUISITIONS Kreston expands in Venezuela

Kreston International has strengthened its South American presence with the addition of two new audit firms in Venezuela. BTF Consultores, based in Caracas, and Williams & Asociados, based in Puerto Ordaz, will join the association. The addition of the new members builds on Kreston International’s recent admission of Venezuelan firm Brito Darrigo Martinez & Asociados; a three partner firm specialising in tax consulting, tax compliance and transfer pricing.

PEOPLE PwC UK reveals insurance head

Gavin Phillips has become the new head of PricewaterhouseCoopers UK (PwC) London insurance market and Lloyd’s insurance group. The PwC partner has also become a member of the UK insurance leadership team at the firm. Phillips takes over from Philip Calnan, who will continue to work with clients both in the Lloyd’s and London insurance market and the wider insurance sector. Phillips has 15 years of experience in PwC’s insurance and reinsurance practice, including three years on secondment to the US firm. At PwC, Phillips has undertaken assignments covering audit, financial investigation, due diligence and regulation.

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