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KPMG LLP in the UK is a leading provider of professional services, which include audit, tax, financial and risk advisory. Our approach to relationships and service delivery aims to help clients exploit new opportunities, improve performance, manage risk and enhance value for both shareholders and stakeholders alike. We are part of a strong global network of member firms with over 10,000 partners and staff working in 22 offices across the UK. Globally the KPMG network has 145,000 people working in 152 countries.

Increasingly, businesses are under pressure to satisfy demanding stakeholders and actively manage their risk profile, while turning their investments into recognisable returns. Recent economic and political turbulence in the global markets has only underlined the importance of building flexible corporate structures and strategies to safeguard investment returns.

KPMG can help businesses address many complex challenges by drawing on its people’s skills across its global network of member firms. Examples range from enterprise-wide risk management to corporate governance; restructuring to people management; and cross-border transactions to leverage IT and intellectual assets.

KPMG is committed to working with all Governments to help ensure its policies are effectively and successfully implemented. KPMG in the UK, as a successful British business, is determined to build an effective working relationship with all governments and to play an active role within our local communities. Our business is open and ethical, indeed we were one of the first professional firms to publish our accounts and to have them audited in 1995. Integrity and transparency are central to our values.

We aim to be a good corporate citizen and contribute our experience and expertise to relevant public policy debates, often working with other stakeholders to further the public interest. KPMG participate in the democratic process to inform politicians at European, UK, central and local government level of issues that do, or may, affect our business. This make take the form of arranging and attending meetings, dinners, political conferences, briefings, as well as responding to consultations. KPMG LLP is a non party political organisation but seeks to have a dialogue with all mainstream political parties. We do not make cash donations to any political party.

For further information on the work of KPMG visit our site at

Latest Press Releases

  • BRC: Best three months average sales growth since June

    UK retail sales decreased by 2.4% on a like-for-like basis from April 2014, when they had increased 4.2% on the preceding year. On a total basis, sales were down 1.3%, against a 5.7% rise in April 2014. Adjusted for the BRC-Nielsen Shop Price Index deflation, total growth was 0.6%.

  • KPMG: Affordable housing further out of reach

    Research from KPMG shows that the divergence between house prices and wages has grown so wide, that a first time buyer in London would need an annual wage of £76,971 to get onto the property ladder, with the actual average annual wage in the capital at just £27,999. 

  • UK bank profits up 62%, but must urgently tackle low return on equity, says KPMG report

    Report reveals divergent performance across the top five UK-based banks as the profitability at the two state-backed banks continued to rise, whereas it fell at the three global banks. Strengthening economic conditions sees loan impairment costs fall 72 per cent to £5.2bn. Encouragingly, four of the five banks have taken the significant step of including customer satisfaction information in their annual reports.

  • KPMG: Audit committees cite uncertainty, volatility and high risk environment as top challenges in 2015

    - More boards reallocating oversight duties as risk environment strains audit committee agendas

    - Cyber security and the pace of technology change, risk management and operational risk, and regulatory compliance are the main issues that will require more attention in 2015 according to respondents in KPMG survey

    - UK audit committee members look to risk adventurous, autonomous and detail thinkers to improve audit committee effectiveness, finds KPMG

  • Administrators appointed to PCS Brands Ltd

    Will Wright and Paul Flint from KPMG were yesterday appointed joint administrators to PCS Brands Ltd, a manufacturing business which makes metal bake ware, cookware and wine racks together with the distribution of cutlery under the Viners Brand.

  • Comprehensive Assessment: Non-performing exposures preventing €2 trillion of additional bank lending, impacting Eurozone jobs and growth, says KPMG

    • KPMG analysis of European Central Bank’s Asset Quality Review’s results reveal the true impact supporting non-performing exposures (NPEs) is having on shareholder value

    • A staggering €96bn of Common Equity Tier 1 capital is tied-up supporting NPEs

    • Bank management teams must focus on proactively managing NPEs and prepare for portfolio sales, as well as reviewing the profitability of their performing exposures

  • Anonymity doesn’t equal cyber security, says KPMG

    James Fox, director in the cyber security practice at KPMG in the UK, comments on the news that Tor users have been advised to check their computers for malware, following an announcement that the anonymising service has been hacked:

  • Comprehensive Assessment: Banks must now “get their house in order” to prepare for the ECB’s supervisory role

    • Today’s publication of the Comprehensive Results reinforces the strength of the European banking sector and will be the catalyst that drives M&A in the European banking sector

    • However European banks face significant challenge as the sector remains chronically unprofitable and must address their €879bn exposure to non-performing loans

    • KPMG calls for banks to “get their house in order” and adapt to the European Central Bank’s Single Supervisory Mechanism, or risk further actions from the regulator

  • Pensions insurance buyout market worth £20bn per year by 2020

    • New KPMG report predicts the pensions insurance buyout market will more than double by 2020

    • As bulk annuity insurance continues to surge in popularity as a de-risking option, scheme and sponsors must take time to understand their options, says KPMG

    • Over £2.5bn might have been saved since 2007 if schemes had timed the approach to market better, according to KPMG analysis

  • BRC-KPMG Retail Sales Monitor September 2014

    • UK retail sales were down 2.1% on a like-for-like basis from September 2013, when they had increased 0.7% on the preceding year. On a total basis, sales were down 0.8%, against a 2.4% rise in September 2013. This is the weakest performance since December 2008 excluding Easter distortions.

    • Clothing and Footwear were the worst performing categories in September, reporting record declines since April 2012 and March 2013, respectively.

    • Over the last three months, Food showed a decline of 1.7% and reported its first twelve-month average decline in at least five years, at -0.2%. Non-Food reported growth of 3.0% over the three months to September 2014, underperforming its twelve-month average of 3.6%.

    • Online sales of non-food products in the UK grew 8.2% in September versus a year earlier, when it had grown 13.4%. This was the lowest online growth since August 2013. The Non-Food online penetration rate was 17.5% in September, 1.3 percentage point higher than in September 2013.

  • BRC-KPMG Online Retail Sales Monitor September 2014

    • Online sales of Non-Food products in the UK grew 8.2% in September versus a year earlier, the lowest growth since July 2013. In September 2013, online sales rose by 13.4% over the previous year.

    • In September, online sales represented 17.5% of total Non-Food sales of our Monitor, against 16.2% in September 2013. This is the highest penetration rate since February.

    • Clothing and Footwear reported a record low performance since our monitor began in December 2012.

    • Online sales contributed 1.4 percentage points to the growth of Non-Food total sales in September. The three-month average contribution of online to growth exceeded that of stores for the first time outside the Christmas period.

  • Conversations about disability shouldn’t be difficult, says KPMG

    Stephen Frost, KPMG’s head of diversity and inclusion, comments on the release of Business Disability Forum’s latest guide which focuses on handling difficult conversations. He highlights the importance of arming line managers with the appropriate tools to feel confident about having honest and open conversations with colleagues with disabilities.

  • Scottish stamp duty to boost local housing market

    Sean Randall, Head of UK Stamp Taxes at KPMG, and Jon Meeten, Head of Tax in Scotland comment on the tax rates and tax bands proposed for the devolved stamp duty on land transactions in Scotland, land and buildings transaction tax (LBTT), to be introduced next April.

  • Administrators secure sale of Progress Plant (Yorkshire) Limited

    Administrators Howard Smith and Jonny Marston of KPMG have secured the sale of the service, repairs and uninterruptible power supply (‘UPS’) divisions of Progress Plant (Yorkshire) Limited (‘Progress’) to Brimlow Limited, which trades as PowerPlant Services ('PPS'), in a deal that has saved 22 jobs.

  • UK public fears advance of internet-enabled devices amid security concerns

    UK consumers fear that technology is overtaking their lives, with many increasingly concerned about the pace of change they face, according to the latest KPMG survey. Results also highlight discomfort with the greater surveillance of everyday life and a cynicism about the need for connected devices.

  • KPMG welcomes final Pension Protection Fund levy proposals

    • PPF confirms new levy approach, relaxes approach on asset-backed contributions
    • There will be winners and losers under the Experian model, with some schemes facing levy increases of over £100,000
    • Trustees and sponsors must understand the changes to proactively manage future levies

  • KPMG expands its business and administration apprenticeship scheme

    KPMG today welcomed 32 new apprentices to its Business Support Academy scheme following a successful pilot involving 7 apprentices last year. After launching in London, the programme has been extended to offices across the UK, including Manchester, Leeds, Birmingham, Bristol and Glasgow.

  • Central London Boroughs top index as toughest for small businesses

    With small businesses helping provide the driving force behind the current growth in the UK economy, a new index released today by the Federation of Small Businesses (FSB) and KPMG has identified the best and worst places for small business owners in London.

  • Apprentices should be paid a Living Wage, says KPMG

    Mike Kelly, head of Living Wage at KPMG comments on the news that Business Secretary, Vince Cable, is set to announce plans to give the lowest-paid apprentices a £1.06 an hour pay rise at the Liberal Democrat conference. He said:

  • The working poor need a living wage, says KPMG

    As the annual increase to the Minimum Wage takes effect today, Mike Kelly, head of Living Wage at KPMG, suggests that the rise will not be enough for many of Britain’s lowest paid and encourages companies to consider whether they can offer their staff a Living Wage.

  • Equal pay for an equal day is no pipedream

    Ingrid Waterfield, a director in KPMG’s People Powered Performance practice (P3), comments on news that, from today, employers can be compelled to conduct and publish equal pay audits if they are judged to have breached the equal pay provisions of the latest Equality Act.

  • Social Housing Pension Scheme deficit not improved

    • Despite payments of £250m by social housing associations, the Social Housing Pension Scheme’s deficit is predicted to remain unchanged at £1bn at today’s triennial valuation

    • Analysis by KPMG shows that, using median actuarial assumptions, the deficit could be as much as 40% higher than stated

    • Housing associations need to pay more cash into the scheme to pay the deficit down – and must factor this into future budgets

  • UK building societies hit all time high reserves

    • Building societies are core to UK housing market recovery, advancing over 25% of UK mortgages
    • Sector enjoys strong reporting season and a confident outlook, as sector reserves hit an all time high of £13.7bn
    • However the potential impact of a number of longer term challenges face the sector, including future hikes in the Bank of England base rate, leverage ratio and the availability of fresh capital

  • Administrators appointed to Caip Limited

    Paul Flint and Brian Green from KPMG’s Restructuring practice in Manchester have been appointed joint administrators to Caip Limited, a technical engineering business which provides services to the telecoms, renewable energy and construction sectors.

  • Administrators appointed to Leeds Recycling Limited

    Howard Smith and Jonny Marston of KPMG were appointed Joint Administrators of Leeds Recycling Limited (“Leeds Recycling”) and Waste Recycling and Diversion Limited (“Diversion”) on 22 September 2014.

  • KPMG announces radical new approach to its audit reports

    • KPMG invites all their listed audit clients to include in their annual report broader qualitative commentary from the auditors
    • Decision to extend offer to all listed audit clients follows positive response by audit committees, management and investor community to pioneering ‘pilot’ reports for three audit clients this year

  • KPMG to Deliver Finance in the Oracle Cloud

    KPMG, a Platinum level member of Oracle Partner Network (OPN) today announces a collaboration with Oracle to bring financial and tax business transformation expertise together with technology know-how, providing clients with cloud-based financial processing, analytics and reporting tools via the Oracle Cloud. The joint initiative will be known as ‘KPMG Powered Finance’.

  • KPMG private client team wins prestigious industry award

    The private client team at KPMG in the UK was named Accountancy Team of the Year by “STEP”, the Society of Trust and Estate Practitioners, the worldwide professional association for practitioners dealing with family inheritance and succession planning, at the STEP awards on Wednesday 17 September.

  • Trio of disruptive technologies will have huge impact by 2017

    3D printing, Internet of Things (IoT), and biotech/ healthcare IT are amongst the top five disruptive technologies predicted to change the way we work and live over the next three years, according to the 2014 KPMG Global Technology Innovation survey.

  • More jobs but at what cost, says KPMG

    Reacting to the publication, today, of the latest UK employment figures, which have seen unemployment levels fall by 146,000 to 2.02 million, Bernard Brown, partner and head of business services at KPMG, says:

  • Crunch time for UK banks as the industry shifts focus from cleaning-up the past towards sustainable growth, says KPMG report

    • Banks significantly reduced lending by over £364bn in the past five years; opening-up the loans market to shadow banking initiatives
    • Banks must focus on increasing the return on equity to above their cost of capital by embedding stronger cultures, ethics and new technologies
    • Window of opportunity for banking industry as performance in the UK economy makes way for growth and profitability

  • Report on Jobs - Vacancies rise at strong rate

    • demand for staff increases at fastest pace since April 1998
    • growth of staff appointments remains marked, despite easing
    • candidate shortages fuel strong pay growth

  • Food crime unit and robust, international, due diligence needed

    Responding to the publication, today, of a Government-commissioned report into the horse meat scandal last year, Annette Barker, Forensic Director at KPMG, warned that unless organisations tackle weak links in their supply chain, they risk exposure to fraud and a repeat of the crisis.

  • Administrators appointed to BDi companies

    Paul Flint and Brian Green from KPMG’s Restructuring practice in Manchester were appointed Joint Administrators of the following six companies on Tuesday 2 September 2014:

  • Blaming ‘weak’ passwords for breaches is history

    Reacting to news that a number of online businesses have recently been breached, opening access to customer data, Yiannis Chrysanthou, security researcher in KPMG’s cyber security team, suggests that instead of businesses blaming consumers for using weak passwords, they need to introduce multi-factor authentication. He explained:

  • Cyber attacks should not invoke NATO Article V, says KPMG

    NATO is set to ratify its new cyber defence policy so that any severe cyber attack on a NATO member could soon be considered tantamount to a traditional military attack and invoke Article V - the collective defence clause which considers an attack on one member an attack on all.

  • Banks should pre-empt direction of European Central Bank’s Comprehensive Assessment

    • KPMG calls for banks to take early proactive action to address capital needs likely to arise from Comprehensive Assessment and not wait until the results are published in late October
    • Dealing with the results of the Asset Quality Review now will reduce the potential risk and pressure from Brisbane G20 summit in November
    • Unique opportunity to present a strategy for long-term profitability underpinned by ECB’s “seal of approval” on bank balance sheets

  • KPMG welcomes new Government Apprenticeship

    Commenting on the publication of the Accountancy Standards for phase two of Government’s Apprenticeship Trailblazer initiative, Michael Walby, Director of Professional Qualification Training at KPMG said :

  • UK organisations need to come clean on Living Wage

    Reacting to the publication, today, of a report by the Equality & Human Rights Commission, which focuses on the low pay and poor working conditions facing the UK’s commercial cleaning workforce, Guy Stallard, Head of Facilities at KPMG, suggests that organisations have a responsibility to ensure all employees avoid the ‘working poverty’ trap.

  • BRC-KPMG Online Retail Sales Monitor July 2014

    • Online sales of Non-Food products in the UK grew 14.9% in July versus a year earlier. In July 2013, they had increased by 7.9% over the previous year.

    • In July, online sales represented 16.7% of total Non-Food sales of our Monitor, against 15.3% in July 2013. July’s penetration was almost in line with its 3-month average of 16.9%.

    • Furniture reported its best online growth rate since February, an achievement given the nice weather.

    • Online sales contributed 1.6 percentage points to the growth of Non-Food total sales in July. Over the last three months, the online contribution was almost as much as the stores contribution and the highest recorded this year.

  • BRC-KPMG Retail Sales Monitor July 2014

    • UK retail sales were down 0.3% on a like-for-like basis from July 2013, when they had increased 2.2% on the preceding year. On a total basis, sales were up 1.3%, against a 3.9% rise in July 2013. The three-month average total sales growth, 1.3%, is below the twelve-month average of 2.3%.

    • Furniture was the best performing category, reporting its highest growth since January, excluding Easter distortions. Meanwhile, Food was the worst performing category and experienced its deepest three-month average decline since our records began in December 2008.

    • Over the last three months, Food showed a decline of 1.4%, in contrast with the growth of 0.4% experienced over the last twelve months. Non-Food reported growth of 3.4% over the three months to July 2014, in line with its twelve-month average of 3.8%.

    • Online sales of non-food products in the UK grew 14.9% in July versus a year earlier. The Non-Food online penetration rate was 16.7% in July, 1.4 percentage point higher than in July 2013.

  • Russian password hack is more than a numbers game

    Tom Burton, a director in KPMG’s cyber security practice, comments on news that a Russian gang has hacked 1.2 billion usernames and passwords belonging to more than 500 million email addresses. He argues that whilst the scale of the breach is eye-catching, the real issue is what they can do with the stolen data. He also argues that this latest breach might finally be the wake-up call businesses need when it comes to password protection.

  • One North is welcome news for Northern economic growth

    Richard Threlfall, KPMG’s UK Head of Infrastructure, Building and Construction comments on the joint One North report published by an alliance of five cities - Leeds, Liverpool, Manchester, Newcastle and Sheffield. He said:

  • Housing construction is in overdrive, says KPMG

    KPMG’s UK Head of Infrastructure, Building and Construction, Richard Threlfall, comments on today’s Markit/CIPS UK Construction PMI figures which report the sharpest rise in housing construction since November 2003. He said:

  • Conmen rely on innocence of youth

    • Marked increase in frauds committed by those under 35 years of age

    • Size is everything as smaller value frauds dominate the Courts’ attention

    • ‘Wolf of Old Hall Street’ conned investors out of £4.4 million

  • Young wealth creators key to generating jobs and growth

    With some of the lowest gross domestic product (GDP) rates in the developed world, UK cities outside London must reinvent themselves as magnets for young wealth creators, in order to generate long terms economic growth, according to the new research by KPMG.

  • Big changes ahead for banks’ accounts due to new standards

    • Provisions for bad debts – larger and more volatile
    • Biggest impact on banks, also significant for insurers
    • No convergence with US rules – lack of comparability for investors and increased costs for companies
    • Big impact on systems and processes – companies need to start addressing now

  • BoE : UK Lenders support business investment plans

    According to Bank of England Trends in Lending figures released today net lending to UK businesses was positive in the three months to May, in contrast to a negative flow in the previous period.

  • UK retail health edges upward in quarter two

    The health of retail edges upwards in Quarter two, but the Retail Think Tank cautions that competitive tension in the food sector risks derailing the recovery in Quarter three.

  • KPMG and Imperial College London form £20 million partnership

    KPMG and Imperial College London today announce the launch of a major new partnership to create the ‘KPMG Centre for Advanced Business Analytics’. KPMG will invest over £20m, with the aim of putting the UK at the forefront of data science.

  • BRC-KPMG Retail Sales Monitor June 2014

    • UK retail sales were down 0.8% on a like-for-like basis from June 2013, when they had increased 1.4% on the preceding year. On a total basis, sales were up 0.6%, against a 2.9% rise in June 2013.

  • BRC-KPMG Online Retail Sales Monitor June 2014

    • Online sales of Non-Food products in the UK grew 10.6% in June versus a year earlier. In June 2013, they had increased by 12.5% over the previous year. This is the lowest online growth recorded since July 2013.

    • In June, online sales represented 17.2% of total Non-Food sales of our Monitor, against 15.9% in June 2013. June’s penetration was greater than its 3-month average, at 16.7%.

    • Excluding Health & Beauty, Footwear was the only category to report growth above the total 3-month and 12-month averages. Indeed, there was a strong contribution of online to UK Footwear sales last month. Toys & Baby Equipment – reported for the first time in this release – performed ahead of Clothing and the home categories.

    • Online sales contributed 1.4 percentage points to the growth of Non-Food total sales. When compared to the UK total sales growth of 0.6% last month, this can be viewed as a strong online performance.

  • FCA’s new rules: Insurers must be more proactive and transparent

    • New rules being drawn-up to ensure renewal quotes include previous premiums are a step in the right direction

    • However relying on the basic requirement may provide customers with misleading information

    • Insurers should prepare for more rules to come in the FCA’s final report

  • Employee owned businesses still need a clear direction, says KPMG

    Commenting on ‘Employee Ownership Day’ and news that start-up companies are behind a rise in the number of organisations adopting ‘employee ownership’ business models, KPMG’s David Fairs argues that how they handle inter-generational demands will be key to success or failure.

  • Collaboration needed to tackle growing resistance to antibiotics

    Commenting on Prime Minister David Cameron’s announcement that he is to launch a review, led by the economist Jim O’Neill, to identify why the international market has failed to bring forward new medicines, Professor Hilary Thomas, partner at KPMG, said:

  • Roaming fee reduction brings opportunities and risks to telco industry

    Responding to news that charges have been halved for surfing the internet, or making and receiving calls, whilst roaming in the EU, KPMG’s Sean Kennedy argues that whilst consumers will benefit from lower bills, there is a risk that they may also face mixed service levels, as operators have less money available to upgrade networks across Europe.

  • KPMG names new Northern Chairman

    KPMG has announced that Chris Hearld is to be appointed Regional Chairman for the North of England from 1st October 2014.

  • Patients are key to improving NHS care and lowering costs

    • Greater patient empowerment is essential to a more cost-effective NHS

    • Shifting focus from ‘sick-care’ to ‘self-care’ an imperative

    • ‘Activated’ patients cost up to 20% less than patients who have not been equipped with the same skills and information

  • Ruthin Castle Limited sold via pre-pack administration

    Paul Dumbell and Brian Green from KPMG’s Restructuring team in Manchester have today been appointed joint administrators of Ruthin Castle Limited, the historic grade II listed hotel and spa situated in Ruthin, North Wales.

  • Flexibility and fair pay are central to zero hours contracts

    Guy Stallard, director of facilities at KPMG, responds to the Government’s announcement that legislation will be introduced banning employers from stopping staff, with zero-hours contracts, from seeking work elsewhere. He argues that by introducing flexibility, employees will be better able to earn more to help them meet essential living costs.

  • Unlocking value in relationships is key to success in business

    How often have we heard the statement that “relationships are our greatest asset” without seeing behaviours that back it up? How people practically think about the value of relationships in business is critical to business success, according to a new report by Tomorrow’s Company, the London-based global business think tank.

  • KPMG staff take up the StepJockey challenge

    Staff at KPMG’s Canary Wharf headquarters are swapping calculators for a fitness app as the firm launches StepJockey today, to help staff keep fit and improve their general well being.

  • Low pay can be tackled by following simple blueprint

    Mike Kelly, director and Head of Living Wage at KPMG, comments as the Living Wage Commission publishes its final report into low pay. He argues that UK businesses have a duty and responsibility to use the proposed blueprint and help lift one million UK citizens out of low pay.

  • Customer service at banks second only to e-retailers

    • Australian and German banks lead the way on service

    • Chinese customers are most likely to recommend their bank brand

    • UK lagging behind and can learn from other countries

    • Technology is critical but human face of banks still needed

  • It is time for the asset management industry to shine

    • The shrinking banking sector presents major opportunities for asset managers

    • Regulation has moved forward to ‘implementation phase’

    • Industry has a huge and important role to play in the global savings debate

    • Political uncertainty and regulatory scrutiny are still key challenges

  • HS3 could rebalance UK economy, says KPMG

    On the back of the Government announcing plans for a high-speed rail link, HS3, aimed at helping to rebalance the UK economy, Richard Threlfall, Partner and UK Head of Infrastructure, Building and Construction at KPMG, has welcomed the scheme and compares it to the build of the M25 and the Channel Tunnel. He said:

  • Path to privacy protection diverted by human rights laws

    The UK public is torn between the fundamental principles of freedom of speech and the level of involvement the State should have protecting its citizens online, according to a survey of more than 1,000 people carried out by KPMG and Censuswide.

  • UK’s business tax system moves to 2nd most competitive

    • The UK has moved from 3rd to 2nd position in the rankings of ten major countries’ tax systems analysed by KPMG International in its biennial “Competitive Alternatives: Focus on Tax” study (KPMG’s Focus on Tax).

  • The future of the grocery sector in the UK

    • Price wars are a “race to the bottom” and could deter future investors

    • Shift to convenience store shopping has been driven by retailers - not consumers

    • But convenience stores sales are now so significant they risk rendering hypermarkets obsolete in their current form

    • ‘Drive through’ supermarkets and free doorstep delivery would offer consumers the ultimate in convenience and choice

  • Customers threaten to shop elsewhere unless businesses pay fair wage

    Consumers will change their buying habits and shop elsewhere if British businesses fail to pay staff a fair wage. According to a survey of more than 1,000 individuals across the UK, most people believe that the country’s continued economic recovery demands a close examination of the UK’s wage structure – and many think that the lowest paid workers should be the first to benefit.

  • Visa changes are a victory for common sense

    Commenting on the measures announced today, which will make it easier for Chinese citizens to obtain a visa and visit the UK, David McCorquodale, head of retail at KPMG, said:

  • LDI market breaks through the £0.5 trillion landmark in 2014

    • The LDI market grew by 17% to £517bn of liabilities hedged at the end of 2013.

    • The “Big 3” managers (L&G, Insight and BlackRock) continue to dominate the market share, however the survey highlights that the other players are capturing the overall market growth.

    • KPMG expects 2014 to see continued growth in this asset class.

  • Asset management to transform over the next 15 years

    • Client bases will be fundamentally different by 2030

    • Number of players in the global market will halve within 15 years

    • Asset managers are behind the curve on embracing new technology

    • Big tech companies like Google and Amazon are well-placed to make moves into the sector

  • Hackers score the first World Cup goal, says KPMG

    On the back of the news that Anonymous Brazil have defaced and brought down a number of World Cup related websites, including Brazilian government agencies and attacked top FIFA partner sites, Edward Parsons, senior manager in the cyber security at KPMG said:

  • Insiders could use whistleblowing tools to steal data

    Edward Parsons, senior manager in KPMG’s cyber security team, comments on the cyber security risks facing businesses in the wake of software being developed to aid whistleblowers. Increased corporate transparency is an important developing trend but he warns that companies need to be aware that these tools could be used by insiders to steal or leak huge volumes of sensitive data, further complicating the insider threat issue for business. He said:

  • Proposals in private motor insurance market brings relief for industry

    • Competition and Market Authority’s announcement “will help the industry make positive steps towards aligning customer and insurer interest“
    • Announcement reflects a general trend towards greater clarity across industry
    • Board agendas expected to refocus on technology and competitive advantage

  • Employers risk scoring an own goal unless they extend flexible working into extra time

    With one day to go before the 2014 World Cup kicks off, KPMG’s David Fairs urges employers to consider the long-term benefits of flexible working, at a time when the improving jobs market is tempting staff to think about their next move. He warns, however, that only introducing it as a short-term measure could backfire, if employees feel they are not trusted to manage their time effectively.

  • BRC-KPMG Online Retail Sales Monitor May 2014

    • Online sales of Non-Food products in the UK grew 17.0% in May versus a year earlier. In May 2013, they had increased by 9.9% over the previous year. This is the highest online growth recorded since our records started in December 2012, excluding Christmas and New Year.

    • In May, online sales represented 18.7% of total Non-Food sales of our Monitor, against 17.0% in May 2013. May’s penetration is the second-highest recorded by our monitor, after last November.

    • The Other Non-Food category contributed over half of the growth. Clothing reported its highest growth since Christmas, and Footwear since December 2012.

    • Online sales contributed 2.1 percentage points to the growth of Non-Food total sales. Over the last three months, Online represented one third of the total Non-Food growth.

  • KPMG welcomes new pensions flexibility

    • New Dutch style ‘defined ambition’ pensions are not for all but can work well in some situations, says KPMG
    • Challenge for Government is to avoid ‘strangling them at birth’ with red tape, warns KPMG

  • UK insurers should embrace digital channels

    • UK insurers can learn vital lessons from the e-retailing sector who perform better at customer experience

    • Chinese insurers have embraced change, achieving the highest improvement in customer experience in the past year

    • KPMG report advises insurers to focus on personal interaction, digital channels and adopt retailing mentality

  • Consumers call for a Privacy Charter to Protect Personal Data

    Consumers have called on policymakers to create a Privacy Charter to dictate what organisations should be allowed to share in terms of personal data online, and as importantly, what compensation they should receive when organisations are hacked.

  • It’s time to ensure low paid share in UK’s growth

    Commenting on the Buckle Report proposals to raise the value of the National Minimum Wage and support the Living Wage as a voluntary standard, Marianne Fallon, partner and UK Head of Corporate Affairs, at KPMG, says:

  • Water Bill: M&A could drive efficiencies

    • Non-domestic competition could encourage new efficiencies
    • Significant challenges for water companies as they navigate the new market changes

  • KPMG Global Manufacturing Outlook: UK ranked alongside China

    • Senior manufacturing executives rank the UK 2nd, along with China, as a country where global companies expect to derive the majority of their sales growth over the next two years, ahead of Germany, India and Japan

    • 85% of UK manufacturers are moving to 3-D printing to reduce their product development life cycle

    • UK companies are falling behind their global peers in R&D spending, despite recent UK tax incentives

    • Supply chains are playing an active role in innovation, yet concerns about poor IT systems limiting supply chain visibility and product profitability are high on the agenda

  • Good news on jobs but skills are still a concern

    Reacting to the publication, today, of the latest UK employment figures, which have seen unemployment levels fall by 133,000 to 6.8 percent, Bernard Brown, partner and head of business services, in KPMG’s management consulting practice, says:

  • BRC-KPMG Retail Sales Monitor April 2014

    • UK retail sales were up 4.2% on a like-for-like basis from April 2013, when they had decreased 2.2% on the preceding year. On a total basis, sales were up 5.7%, against a 0.6% fall in April 2013. Growth was positively distorted by the timing of Easter.
    • Furniture & Flooring was the best performing category, reporting its highest growth since Easter 2006. Strong growth was also recorded in Other Non-Food and Children’s fashion.
    • Including both the positive and the negative distortions from Easter, the 12-month total sales growth now stands at 2.8%, ahead of the average CPI over the 12 months to March at 2.3%.
    • Online sales of non-food products in the UK grew 11.2% in April versus a year earlier. The Non-Food online penetration rate was 16.1% in April, the lowest since April 2013.

  • EFB and KPMG launch the European Family Business Tax Monitor

    • European Family Business Tax Monitor compares the tax treatment of inter-generational family business transfers in 23 European countries.

    • UK analysis shows how tax exemptions can dramatically affect the tax payable in the scenario analysed.

    • Tax treatment varies significantly across Europe, with differing levels of complexity and obligations.

    • The potential tax burden on business transfers within the family could hinder future growth and investment.


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