KPMG changes leadership roles…

French firm figures come to light…

AGN strengthens in Europe…

PEOPLE
KPMG changes leadership
roles

KPMG US has appointed John Veihmeyer as its new chief executive
after Timothy Flynn took on a new role as chairman of KPMG
International’s global executive team. Flynn will remain in his
position as the US firm chair and is currently chairman of KPMG
International. His extra responsibilities as part of the global
executive team has prompted the changes. Veihmeyer, who was
previously deputy chair of the US firm, will oversee day-to-day
operations of the US firm. KPMG International said it formed the
global executive team in response to the changing external
environment.

“The new global executive team replaces a previous structure
with two separate management bodies. The team will develop and
drive the strategy approved by the global board,” Flynn said.

FINANCIAL RESULTS
French firm figures come to
light

KPMG France has claimed its 2008 results confirm its position as
the nation’s leading audit, accounting and consulting firm. The Big
Four firm has reported its revenue grew 4 percent to €790 million
($1.04 billion) in the year ended September 2008. It also reported
that across its service lines it is involved with 90 percent of
France’s largest companies listed on the CAC 40. KPMG’s closest
rival in terms of fee income is Ernst & Young France, which
revealed in its transparency report revenue of €794 million for the
year ended June 2008. However, this includes revenue for offices in
sub-Saharan Francophone Africa. Deloitte France recently reported
fee income of €770 million for the year ended May 2008 and
PricewaterhouseCoopers France’s revenue for the year ended June
2008 was €641 million.

MEMBERSHIP ADDITIONS
AGN strengthens in
Europe

AGN International has admitted new member firms in France and
Germany. ACE Groupe is located in Paris and comprises two firms:
the audit firm ACE Audit, and ACE Expertise, which provides
accounting and tax services. The group has six partners and 50
professionals, providing services in audit, M&A, accounting,
valuations, tax, forensic and arbitration. The group has experience
serving sectors including banking, insurance, distribution,
automobile, real estate, biotechnology, media, IT and recruitment.
WLP GmbH, an audit and accounting firm in Hamburg, becomes AGN’s
only member firm in Germany’s second-largest city. The firm
comprises 15 professionals and two partners.