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KPMG Acquires Thomson Reuters' Tax Managed Services Consultancy
Monadnock Research - 2 February 2012
KPMG has acquired the indirect tax compliance services business of Thomson Reuters Inc. (TRI). The business, TRI's ONESOURCE Indirect Tax Managed Services business, will become part of KPMG's Indirect Tax Compliance Services. That KPMG unit is part of the US firm's existing State and Local Tax (SALT) practice and its Global Indirect Tax Service offering provided by KPMG member firms throughout the world. KPMG says it will maintain an ongoing relationship with Thomson Reuters through the continued use of Thomson Reuters' underlying technology to power the US-based services. (620 words) . . . More
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Consulting Leadership News: Ernst & Young, L.E.K., Huron, ECS, PA Consulting, KPMG and Aon Hewitt
Monadnock Research - 20 January 2012
Ernst & Young appoints Mark Weinberger as next Global CEO and Chairperson. L.E.K. names Stuart Jackson North America President; Appoints 6 new Partners. Huron appoints former Accenture executive as Managing Director and leader of Clinical Solutions practice. Huron promotes Gerri Birg, Sandra Dodds, Michael Gladson, Neera Gupta, Michael Kemper, Jason Moebius, Scott Pillittere and Joe Sneddon to Managing Director. ECS appoints George Wilson as President. PA Consulting names Dave Smith Group Technology Leader. Andrea Schaffell named Director of PA Shared Services and Outsourcing practice. KPMG appoints David Hansell Head of global Human Social Services practice. Aon Hewitt's Head of Investment Consulting, Andrew Tunningly, departs. (1,825 words) . . . More
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And in other news: Ernst & Young, Aon Hewitt, ECS and Navigant
Monadnock Research - 18 January 2012
Operational Risk & Regulation Magazine releases results of its 2011 consultancy rankings of the top 10 operational risk management consulting practices. Ernst & Young takes the top spot in anti-money laundering, corporate governance, regulation strategy, Basil II and III, treating customers fairly, fraud and financial crime prevention, and enterprise-wide compliance and risk management strategy. Aon Hewitt signs agreement with Birches Group to remarket compensation surveys. ECS acquires Paradigm Technologies. Navigant shareholder sues, claiming excessive executive compensation. (753 words) . . . More
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KPMG Advisory Practice Grows 2.5 Times Faster than Audit in 2011; $2 Billion Management Consulting Business Up 29%
Monadnock Research (Vol IV, No 44) - 22 Dec 2011
MR - KPMG International's advisory practices grew at 14.76% in fiscal 2011, for the period ended 30 September. That was 256.7% faster than the firm's global audit businesses grew. KPMG says its global management consulting practices had fiscal 2011 revenue growth of 29% in US dollars and 24% in local currency terms. KPMG has built its $2 billion management consulting business in just six years. Its acquisition of EquaTerra in 2011 dramatically increased the firm's outsourcing and shared services advisory practice. Revenues increased across each of KPMG's geographic regions. Asia Pacific growth was 16.6% in US dollars. Americas revenues were up 10.7%. Europe, Middle East and Africa, including India, increased by 7.7%. Much of the geographic expansion occurred in high growth markets. India was up 25% and Brazil 22% in local currency terms. Research Note includes 1 graphic and MR perspective on Big Four divestitures of advisory operations. (815 words) . . . More
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Consulting Leadership News: Roland Berger Strategy Consultants, Simon Kucher, Heidrick & Struggles, KPMG, PricewaterhouseCoopers, Ernst & Young, Capgemini, FTI Consulting, Charles River Associates, Aon Hewitt, Celerant, CACI, CSC and Booz Allen
Monadnock Research - 15 December 2011
Roland Berger opens offices in Jakarta, Dubai and Lagos; Appoints 26 new international Partners; Partners elect two new Supervisory Board Members. Simon-Kucher appoints 8 new Partners. FTI opens new office in Jakarta. Rebecca Szelc joins Charles River as a Vice President in Financial Accounting & Valuation practice. Linda Zimmerman joins Aon Hewitt as Senior Vice President and Global Marketing Leader. KPMG appoints Janet Davidson as Head of the Global Healthcare Center of Excellence. PricewaterhouseCoopers names Erik Hansen as Partner in Risk Assurance Services practice; Pamela F. Olson joins as Deputy Tax Leader and Leader of Washington National Tax Services practice. Capgemini Appoints Dee Burger as Telecom, Media and Entertainment Practice Sector Lead and Jean-Marc Steffann as Vice President. Navigant appoints Jim Vint Managing Director, and Kevin Blake and Kevin Byrne as Directors within the Technology Solutions practice; Karin Corfee as Managing Director in Energy Practice. Ernst & Young appoints Brendan LeBlanc as Executive Director in Americas Climate Change and Sustainability Services practice, and Chris Walker as Associate Director. Celerant appoints Neil Eurick as Vice President in Global Metals and Mining Practice. Mike Shove named COO CSC Managed Services; Andrew Anker appointed President, CSC Asia Group Operations; Chris DePippo named Vice President, Chief Ethics and Compliance Officer. Booz Allen Appoints Thad Allen as Senior Vice President. CACI US President, William Fairl, to Retire, Moves to Chief Development Officer Role; CACI COO, Daniel Allen, elevated to President of US Operations; Krisstie Kondrotis as Executive Vice President, Business Development. Booz Allen Appoints Thad Allen as Senior Vice President. (6,800 words) . . . More
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EC Formally Proposes Order Separating Big Four Audit and Consulting Operations
Monadnock Research (Vol IV, No 40) - 2 Dec 2011
MR - The European Commission (EC) has adopted proposals that, if implemented, will dramatically change the way auditors serve public interest entities (PIE), including banks, insurance companies and publicly listed companies. The proposal prohibits firms from providing non-audit services to audit clients. The rules are particularly restrictive for the Big Four, and will obligate them to separate audit activities from non-audit consulting and advisory practices to avoid potential conflicts of interest with clients. According to the EC, "Big firms represent a very large proportion of PIE audits. It is critical that such audits are conducted in an independent manner without any 'pollution' from other commercial interests." Beyond the separation of audit and advisory operations, the change establishes more stringent governance policies for auditors to strengthen their independence and introduces more competition into the highly-concentrated market for PIE audit services. Included among those additional changes are mandatory auditor rotation; transparent bid tendering; audit committee oversight; EC supervision and international coordination of the audit sector; intra-EC auditor professional practice mobility; and less "red tape" for small and mid-sized audit firms. Audit firms will support many of the proposals, but reject separation of the consulting operations as a solution. They also oppose auditor rotation, which the EC has said is fundamental to reform. Research Note includes EC audit reform proposal, impact assessment and firm responses to the proposed regulatory actions. (1,950 words) . . . More
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And in other news: SAP, Bain, KPMG, Mercer and Gingrich Group
Monadnock Research - 3 December 2011
SAP to Acquire Human Capital Management Cloud Services Firm, Success Factors. Bain & Co. Appoints Bob Becheck as Worldwide Managing Director. KPMG introduces corporate business intelligence risk management service for corporate clients. Mercer to acquire Alicia Smith & Associates; Closes acquisition of Censeo. Gingrich faces questions about influence peddling under cloak of "consulting". (693 words) . . . More
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Green Consulting Practices Assessed in Verdantix Report
Monadnock Research - 15 Nov 2011
MR - Verdantix, an independent research firm providing services in the area of sustainable business practices, recently published the results of its 2011 UK Green Quadrant Sustainability Business Consulting study. According to Verdantix, in the last four years a combination of increasing energy expenditures, climate change policy, new market opportunities and shifting competitive dynamics has encouraged FTSE 100 firms to invest in more ambitious corporate sustainability strategies. The Green Quadrant report is positioned to help client business leaders and procurement professionals by presenting a fact-based comparison of the 14 sustainability business consulting firms most active in the UK market. Many of these firms also have top sustainability practice in other global regions. The report found that the following four firms currently lead the UK sustainability consulting market: Deloitte, Ernst & Young, KPMG and PwC. Their position is due to the breadth of their service offerings; depth of expertise in sustainability; and significant investments in internal sustainability programs. The report also found that Accenture, ARUP, Camco, McKinsey and WSP Environment & Energy all have strong practices that are well positioned to address client requirements across the seven sustainability areas assessed in the report. (500 words) . . . More
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Consulting Leadership News: Korn/Ferry, CSC, KPMG, BDO, Cushman & Wakefield, PwC, CGI, E&Y, Celerant, Navigant, Alvarez & Marsal, BearingPoint, Huron, Campbell-Hill
Monadnock Research - 27 Oct 2011
MR - Korn/Ferry appoints Chuck Feltz as President of its Lominger products business. CSC CEO and Chairman, Michael Laphen, to retire. KPMG LLP Names Steven Hill Vice Chair, Strategic Investments. Sixty staff and 6 partners join BDO USA from Carneiro Chumney & Co. Cushman & Wakefield cuts staff and shifts focus from Dubai to Bahrain. CGI appoints George Schindler President of US operations and Ken Taylor as Vice-President, Cybersecurity. PwC names Dietmar Ostermann Global Automotive Advisory Leader. PwC appoints Eric Israel and Clinton Moloney as Managing Directors in Sustainability Business Solutions practice. Martin Steinbach appointed to lead Ernst& Young's IPO Center. BDO Consulting names Drew Olson to expand litigation and fraud investigation within Chicago Insurance practice. Celerant appoints Neil Eurick as Vice President within Metals and Mining practice. BearingPoint hires Rob Staples as Partner in UK Communications practice. Navigant appoints nine senior consulting professionals. Alvarez & Marsal appoints Lou Pahountis as Managing Director. Huron names Joel Feliciano as Managing Director. AirTran Senior Executive Kevin Healy Joins Campbell-Hill Aviation Group; Eric K. Ford joins as Vice President. (2,735 words) . . . More
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KPMG Completes Acquisition of Optimum Solutions
Monadnock Research - 20 October 2011
MR - KPMG has completed its acquisition of Optimum Solutions, a leading provider of management consulting and implementation services for Oracle's enterprise software. KPMG says the Optimum acquisition strengthens its Oracle consulting business, helping clients use technology to transform key operations such as human capital management (HCM), finance and accounting, business intelligence and supply chain management. (730 words) . . . More
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KPMG Acquires UK Strategic IT Advisory, Xantus
Monadnock Research - 5 October 2011
MR - KPMG has acquired Xantus, a leading UK-based IT strategic advisory services firm. Xantus' services span the range of strategic and operational change including IT due diligence, market assessment, IT strategies and sourcing solutions, operating model design and expert program delivery. The deal expands KPMG's advisory capabilities, particularly at the Board and CIO levels. (430 words) . . . More
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KPMG Agrees to Buy Oracle Enterprise Applications Consultancy, Optimum Solutions
Monadnock Research - 29 September 2011
MR - KPMG has agreed to acquire Optimum Solutions, an Oracle application and software infrastructure consultancy, to strengthen the firm's ability to help clients leverage technology to transform key operations, including human capital management (HCM), finance and accounting, business intelligence and supply chain management. The deal is expected to be concluded sometime in the fall. Founded in 1999 and based in San Francisco, Optimum provides management consulting and implementation services for clients utilizing Oracle enterprise applications and infrastructure software. (470 words) . . . More
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KPMG Canada Acquires Berris Mangan
Monadnock Research - 6 Sept 2011
MR - KPMG LLP (Canada) has acquired Berris Mangan, a leading mid-sized Vancouver accounting and advisory services firm. Berris Mangan will be integrated within the KPMG Enterprise practice, which specializes in serving private companies and entrepreneurs. KPMG says this acquisition will further solidify its position as a leading accounting and advisory services firm in the Greater Vancouver area. Berris Mangan represents the latest in a number of acquisitions for KPMG Canada, which will help the firm develop an even greater focus on client service excellence in a growing market. (505 words) . . . More
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Jordan Affiliate Joins KPMG Europe
Monadnock Research - 18 July 2011
MR - KPMG Jordan has joined KPMG Europe LLP, bringing Europe's participating member firm countries to eighteen. Members now include KPMG's affiliates in Armenia, Belgium, Georgia, Germany, Jordon, Kazakhstan, Kuwait, Kyrgyzstan, Luxembourg, the Netherlands, Norway, Russia, Saudi Arabia, Spain, Switzerland, Turkey, the Ukraine, and the UK. KPMG Europe now has more than 30,000 partners and staff, and serves clients from 120 offices. The operation had total revenues of 4.7 billion euros in the most recent fiscal year. In that same period, the KPMG EMEA operation had just under 71,000 staff and revenues of 7.49 billion euros. That translates to the KPMG Europe operation representing around 42% of EMEA staff and 62.8% of revenues.(340 words) . . . More
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And in other news: CACI, KPMG, Deloitte, Beacon Partners, Virtusa, Primary Global Research, and Broadband Research
Monadnock Research - 3 July 2011
(MR) CACI completes acquisition of Pagnia Technologies. Class action suit against KPMG alleges it "mommy tracked" female professionals. Pennsylvania Court rules in favor of Department of Public Welfare award to Deloitte. Beacon Partners acquires Healthcare Innovation Solutions. Virtusa acquires ALaS Consulting for $27.8 million. Former Flextronics exec and moonlighting consultant pleads guilty to conspiracy and securities fraud. (575 words) . . . More
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EC Commissioner Barnier Considers Prohibiting Auditors from Offering Consulting
Monadnock Research (Vol IV, N 21) - 1 July 2011
MR The EC Commissioner for Internal Market and Services, Michel Barnier, addressed a conference of the Federation of European Accountants on 30 June, and advocated for a number of auditor regulatory changes that could include a total ban on audit firms providing consulting services and mandated rotation of auditors. Barnier is the EC official responsible for the Internal Market and Services Directorate General and Office for Harmonization in the Internal Market. Speaking before the federation of European CPA's Barnier intimated that he believes the regulatory environment for auditors in Europe is deeply flawed and in need of reform. He proposes the EC focus on: auditor independence issues; opening of the audit services market; and a more integrated European auditor regulatory and certification environment. The issue of auditors offering consulting and advisory services was addressed in his remarks. He believes that a key factor that fuels excessive familiarity between auditors and their clients lies in providing too many consulting and non-audit advisory services. Barnier asks, "How can we view an auditor as independent when the firm also advises the client in the area of strategy?" Research Note includes translation and interpretation of key points from speech associated with consulting. (865 words) . . . More
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Recent Firm Research: Accenture, KPMG, and PwC
Monadnock Research - 23 June 2011
MR - Physician employment trends will drive business strategy changes for payers, providers, and vendors; Businesses say it's possible to sustain growth, drive innovation, and simultaneously address societal challenges facing nations and communities - (Accenture). Multinational tax executives say global regulatory pressure to increase transparency is most significant change ahead; Banking execs look to M&A to fuel growth; complete economic recovery not expected in near-term (KPMG). Leveraging innovation to develop new products and services as important as raising existing market share (PwC) . . . More
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Consulting Leadership News: Deloitte, PwC. Mercer, Sopra, Navigant, E&Y, FTI, Logica, Point B, KPMG, US DoD, and Citigroup
Monadnock Research - 5 June 2011
MR - Deloitte LLP elects Punit Renjen Chairman and Joseph Echevarria CEO; Jim Moffatt, Chairman and CEO of Deloitte Consulting LLP; Carl S. Allegretti as Chairman and CEO Deloitte Tax LLP; General Charles F. Wald as Director and US Department of Defense (DoD) consulting practice lead; and Deloitte's UK affiliate names 63 new partners. Richard Neiman joins PricewaterhouseCoopers as Vice Chairman of Global Financial Services Regulatory practice; Dr. Harry Broadman appointed Managing Director, Chief Economist and Leader of the Emerging Markets, Governance, and International Investment & Trade advisory practice group within PwC Forensics Services; and Keith Hubert, Managing Partner of the Hartford, Conn. office and leader, and leader of PwC's Northeast Insurance Services practice. Jimmy Johansen appointed Head of Mercer's Nordic International Consulting Group and International Leadership Group Member for EMEA; Michael Shore joins Mercer as Principal in Information Product Solutions consulting practice. Sopra appoints Christian Levi as Head of Sopra Consulting. Navigant's current Vice President and Controller, David Wartner, named Vice President, Operations and Treasurer; Scott Harper, Controller of Navigant's Disputes and Investigations segment, named Corporate Controller; Mary Jo Neville, current Segment Controller of Navigant's Business Consulting segment, named Segment Controller of Navigant's Disputes and Investigations segment; and F. Wayne Elggren joins Navigant's Disputes & Investigations practice as a Managing Director. Ernst & Young appoints Maria Pinelli as Global Vice Chair for Strategic Growth Markets practice. FTI Consulting names Lord Malloch Brown as Chairman of EMEA operations. Logica appoints Himanshu Raja as CFO and Executive Director of the Board. Point B appoints Michael Dickstein as Chief Marketing Officer. KPMG faces $350 million gender discrimination class action. Former Dutch Healthcare Cabinet Minister, Ab Klink, joins Booz & Co. Shay Assad appointed Director of Defense Pricing within US Office of the Under Secretary of Defense. John Catero appointed Citigroup Senior Vice President for US professional services procurement. (4,575 words) . . . More
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KPMG Canada Acquires HIO Group
Monadnock Research - 18 May 2011
MR - KPMG LLP (Canada) has acquired HIO Group Inc. (HIO), a leading operations and quality improvement health care consultancy in Canada. KPMG says the deal strengthens its commitment to creating meaningful improvements in health care quality, access, and sustainability. HIO has operations consulting capabilities in the areas of patient care quality improvement, wait time reduction, and patient services cost reduction. The HIO senior management team, professionals and staff, including clinicians, engineers, senior managers, and management consultants, will be integrated into KPMG's Advisory practice. (440 words) . . . More
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Consulting Leadership News: KPMG, Infosys, Deloitte, Ernst & Young, PwC, Hayes, PFK, and Ciber
Monadnock Research - 13 May 2011
MR - KPMG appoints Michael J. Andrew as Global Chairman, succeeding Tim Flynn in October 2011. N. R. Narayana Murthy's replacement at Infosys announced; Murthy appointed Chairman Emeritus; K. V. Kamath named as the Chairman of the Board; S. Gopalakrishnan named as the Co-Chairman of the Board; S. D. Shibulal named as the Chief Executive Officer and Managing Director. John McCue appointed leader of Deloitte's Energy & Resources Industry and Power & Utilities sector. Ernst & Young names Preston Thompson as Executive Director within its Financial Services Advisory practice; Mal Postings as the Chief Technology Officer within the IT Advisory Services practice; David White as Principal and Kristin Valente as Partner within Portland Advisory Practice; and Nathan Ives within its Power & Utilities Advisory Services Practice. Paul Williams Joins PwC US' Real Estate Business Advisory Services Practice. Robert Drewniak named leader of Hayes Management Consulting's Strategic & Advisory Services group. Andrea Foster Rejoins PKF Consulting USA as Vice President. CIBER Names Jayant Mehta Vice President of Business Solutions. (3,145 words) . . . More
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KPMG Acquires Sumera Management Consulting
Monadnock Research - 4 May 2011
MR - KPMG LLP (Canada) has acquired Sumera Management Consulting, a firm that focuses on strategy and organizational effectiveness in the public, healthcare, and social services sectors. KPMG says the acquisition brings together two similar cultures with track records for improving quality, performance outcomes, and fiscal sustainability in the public sector. Sumera's senior management and staff will be integrated into KPMG's Alberta Advisory practice. (325 words) . . . More
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Honest Services Crisis: Professional Poison and the Chicago Connection
Monadnock Research (Vol IV, No 11) - 30 Mar 2011
This Research Note was written by Monadnock Research CEO and Cofounder, Mark O'Connor, for re:TheAuditors, Francine McKenna's Big Four Weblog. The article has been published in its entirety at www.retheauditors.com; no subscription required. Research Note includes 7 recommendations for clients and firms to minimize risk; Big Four firm metrics; recognition of 2010's best and worst examples; three graphics; and 45 minute audio version. (6,200 words). . . . More
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2011 Big Four Consulting and Advisory Services Rates
Monadnock Research (Vol. IV, No. 10) - 17 Mar 2011
MR - This Monadnock Research Note summarizes the findings of a recent client study into Big Four consulting and advisory services rates. Since we find that rate data for the Big Four is not particularly useful unless it is presented across individual rate categories, this Note provides median rates for firms across the following 12 categories: Strategy; Operations; Accounting and Financial Strategy; Legal, Forensic and Risk Advisory; Internal Audit and Compliance; Transaction Advisory; Tax Advisory; Performance Services; IT Audit; Human Resources; IT Consulting; and IT Strategy. Research Note includes 4 charts. (850 words) . . . More
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Big Four Advisory Practice Rankings
Monadnock Research (Vol IV, No 9) - 17 March 2011
MR - Global non-audit advisory services of Big Four firms, including tax services, again broke the $50 billion (USD) mark in fiscal 2010 after retreating briefly in 2009, representing a 3.23 percent increase over 2009 levels. Total non-tax advisory services of Deloitte, KPMG, PricewaterhouseCoopers, and Ernst & Young were $27.8 billion, an increase of 8.1 percent over fiscal 2009. This Monadnock Research Note ranks the Big Four firms across their non-audit service categories. It also includes ratios of audit to non-audit advisory work for the Big Four, and provides MR perspective on what it all means to buyers, sellers, and regulators of associated services. Research Note includes 6 charts. (3,075 words) . . . More
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KPMG Acquires EquaTerra
Monadnock Research - 23 February 2011
MR - KPMG Holdings Limited (UK) and KPMG International finally reached an agreement to acquire EquaTerra's business and subsidiaries after 6 months of rumors on an imminent transaction. The deal creates a global sourcing and shared services advisory firm serving clients across the Americas, Europe and Asia Pacific. The firms say the transaction is consistent with KPMG's growth strategy to focus on organic and inorganic opportunities in high-demand market sectors. Equaterra, founded in 2003, is a provider of advisory and research services, and governance tools to help clients with process improvement, outsourcing, and shared services across a number of business functions. (760 words) . . . More
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Consulting Leadership News: Wipro, Accenture, Segal Advisors, Deloitte, Booz Allen, PwC, KPMG, and Proudfoot
Monadnock Research - 10 February 2011
MR - Wipro Technologies announces major reorganization; Kirk Strawser continues to lead Wipro Consulting. Accenture names Sander van 't Noordende as group Chief Executive of Management Consulting, succeeding a retiring Mark Foster; Jean-Marc Ollagnier succeeds van 't Noordende as group Chief Executive of Accenture's Resources operating group; Shawn Collinson is appointed Senior Managing Director,Growth & Strategy, succeeding Karl-Heinz Floether who will retire later in 2011; Avinash Vashistha is appointed country Managing Director and Co-Chairman of Accenture India; and Kay Kapoor is named U.S. federal government practice leader. Daniel F. Westerheide, Vice President and Consultant, was named Asset/Liability Modeling Practice Leader at Segal Advisors. Deloitte appoints Bob Contri as leader of U.S. Banking and Securities Sector practice, and as a Vice Chairman, succeeding Jim Reichbach, who continues to lead the overall Financial Services Industry group; Former Director of the U.S. FDIC Division of Resolutions and Receiverships, Mitchell L. Glassman, joins Deloitte Consulting as Director. Booz Allen Hamilton appoints Mark Gaumond to its Board of Directors. PwC Appoints U.S. Department of Treasury Executive, Douglas W. Roeder, within its Financial Services Regulatory Practice. KPMG Switzerland has appointed Marc Gossi as its new Head of Performance & Technology. Alexander Proudfoot appoints John Sharman to Head Global Procurement Practice. (2,742 words) . . . More
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KPMG Canada Acquires Clark & Associates
Monadnock Research - 19 January 2011
MR - KPMG Canada has acquired Chilliwack-based Clark & Associates, a firm focused on Assurance Services in the Enterprise market. The firm's clients have transitioned to KPMG. The acquisition will enhance its presence in the Chilliwack marketplace and further grow the KPMG Enterprise practice in the Greater Vancouver Area. (245 words) . . . More
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KPMG Fiscal 2010 Advisory Revenues Up 8.3 Percent as Global Revenues Reach $20.6 Billion
Monadnock Research (VIII N63) - 18 December 2010
MR - KPMG had combined revenues of US$20.63 billion for its fiscal 2010 ended 30 September, a 2.6 percent increase in U.S. dollar terms, and 0.1 percent in local currency over 2009's US$20.11 billion. Advisory services grew across all three regions with the strongest growth in the Americas practice, at 10.8 percent. Asia Pacific advisory services growth was 9.9 percent, and Europe, Middle East and Africa (EMA) growth was 2.6 percent. The Performance and Technology group was the main source of advisory growth, increasing by 12.7 percent. There was also double-digit advisory growth at several large member firms, including the U.S., Canada, the UK, France, China, India, the Commonwealth of Independent States (CIS), and Brazil. (1,155 words) . . . More
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Consulting Leadership News: KPMG, Wipro, Accenture, PwC, Capgemini, FTI, Global Counsel, and Cerrell Associates
Monadnock Research - 3 December 2010
MR - KPMG makes 136 partner appointments in its Americas practice; KPMG Europe appoints three independent executives to Public Interest Committee. Wipro founder donates Rs 88.4 billion ($1.95 billion USD) to launch Azim Premji University, to develop the field of education in India and improve access to education for Indian citizens across all stages of life, with a special focus on underprivileged and disadvantaged sections of Indian society; Wipro appoints Global Head of Talent Acquisition. Accenture to open a research, development, and innovation center in Dublin, Ireland, adding 100 professional staff to focus on predictive analytics; Accenture names group Chief Executive of Financial Services operating group. PwC appoints new Global Leader, Financial Services. Britain's former Business Secretary launches Global Counsel LLP with funding from WPP Group. Capgemini names Chief Portfolio Sales Officer and Head of Global Services for its Technology Services business in North America. FTI Consulting appoints six new leaders to its global FD and Corporate Finance & Restructuring practices. Prominent U.S. political consultant, Joe Cerrell, dies at 75 in Los Angeles. (1,975 words) . . . More
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Consulting Leadership News: Accenture, KPMG, Sapient, Huron, LECG, and Mercer
Monadnock Research - 29 October 2010
MR - Accenture Names Pierre Nanterme, Financial Services group leader, as successor to CEO William Green, effective 1 January 2011. Former KPMG Chairman, Walter Edward Hanson, died at his California home after a long illness; KPMG names U.K. Partner as global Healthcare practice leader. Sapient Co-founder rejoins board and terminates consulting agreement; Sapient Global Markets names Director of Business Consulting. Huron names former McKinsey Americas IT Director as CIO; Appoints Education Consulting practice Managing Director. LECG appoints Managing Director in Banking and Real Estate consulting practice. Capgemini appoints Director of Investor Relations. (2,300 words) . . . More
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Procurement Organizations Remain Focused on Cost, Despite Evidence of Negative Consequences
KPMG & the Economist - 27 October 2010
KPMG - A majority of industrial companies continue to focus on cost as their top supply chain management priority, despite emerging evidence that excessive focus on cost damages relationships with strategic partners, and that new supply chain management approaches are gaining hold among leading competitors, according to the findings of a recent KPMG International study. Thirty-eight percent of leading respondents from North America, Western Europe, and Asia-Pacific acknowledged that a focus on cost has harmed supplier relationships. The study found that bellwether companies: develop deeper relationships with strategic suppliers; engage in collaborative innovation; make strategic investments in key suppliers; bring some strategic supply chain elements back in-house; and leverage global and regional supply chain partners to optimize speed, quality, and cost. China continues to present significant IP risk, and strategic relationships with Chinese suppliers of respondents tend to focus on production of goods involving little IP, assembly tasks, and warehousing. (946 words) . . . More
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KPMG Canada Acquires Blackstone Partners
Monadnock Research - 5 October 2010
MR - KPMG Canada has acquired Blackstone Partners, a 15-member firm specializing in strategy and organizational effectiveness, with a concentration of clients in the health care, provincial government, and municipal government sectors. Blackstone Partners is recognized for assisting its clients in developing strategies that re-invigorate stakeholder engagement. (185 words) . . . More
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Consulting Leadership News: HP, KPMG, Deloitte, E&Y, True Partners, Baker Tilly, and Kobe Institute
Monadnock Research - 30 September 2010
MR Former Booz Sr. Partner and Oracle President Ray Lane appointed HP Non-Executive Chairman; Former SAP President Léo Apotheker named HP CEO and President. KPMG Canada names 70 new partners, Associate Partners, and Executive Directors. Deloitte has appointed Heather Devine as a director within its U.K. business model optimization practice. E&Y plans to hire 6,000 students in the next 12 months. True Partners Consulting has appointed Robert M. Gordon and Samantha R. Petersen as managing directors. Baker Tilly appoints Jeffrey Smith as Principal in U.S. Federal Government Practice. Former McKinsey consultant, Toshiki Sumitani, named President of Japan's Kobe Institute of Computing. (1,480 words) . . . More
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Seventy-percent of Global Business Leaders Seek Cuts in Government Spending
KPMG International - 30 September 2010
MR - Seven out of 10 business leaders said that government debt should be reduced primarily through cuts in public spending, according to research from KPMG International. KPMG surveyed 538 business leaders from 26 countries around the world for the report, entitled "Paying the Bill." Cutting public spending was also the top choice for 77 percent of Europeans; 69 percent of Americas; and 54 percent of Asia-Pacific respondents. With 72 percent of businesses concerned about their country's level of public debt, and 43 percent very or extremely concerned, the survey shows that cutting public spending is the most popular method of managing the public debt. (1,045 words) . . . More
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KPMG Canada Acquires IT Consultancy IT/NET
Monadnock Research - 27 September 2010
MR - KPMG Canada has acquired IT/NET Group Inc., a firm specializing in management and IT consulting, and IT-enabled business transformations. The Toronto-based firm has been providing services for approximately 18 years and has 70 staff. IT/NET served clients across a number of sectors, with special expertise in public services, high tech, and healthcare. (410 words) . . . More
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Consulting Leadership News: Atos Origin, PwC, CSC, Logica, E&Y, KPMG, Mercer, Navigant, Buck, and Kurtzman Carson
Monadnock Research - 4 September 2010
MR - Atos Origin Appoints CEO of Atos WorldGrid; Executive Vice President for Talent Management and Communications. PricewaterhouseCoopers LLP names U.S. and Global Talent Leader; U.S. Recruiting Leader; and Co-leader of Indirect Tax practice. CSC Appoints Senior Executive Advisor and Vice President for its North American Public Sector Civil and Health Services Group. Logica names CEO of North American operations. Ernst & Young appoints new leader for Advisory Power & Utilities Practice. KPMG International names global head of audit. Mercer appoints Managing Director, Taiwan. Navigant appoints Managing Director within Financial Risk Management Practice. Buck Consultants appoints communications practice lead. Kurtzman Carson Consultants appoints Director of Corporate Restructuring Services. (2,425 words) . . . More
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HP $55 Million Settlement with U.S. DoJ for Alleged Procurement Process Violations Highlights Stiff Penalty for Denial of Allegations
Monadnock Research (VIII N39) - 3 September 2010
MR - The U.S. Department of Justice (DoJ) has reached an agreement with Hewlett-Packard where HP will pay $55 million to settle allegations that it defrauded the General Services Administration (GSA) and other federal agencies. Previous guidance by HP estimated the amount at $47 million. HP has denied that it violated any laws in its settlement. The agreement, and the recent $87.5 million settlement involving EMC in an associated case, highlights the stiff penalty the DoJ is imposing on firms when they deny their failure to comply with Federal procurement guidelines for products and services. Research Note includes: HP settlement details; Summary of allegations and settlements involving numerous other consulting firms in associated litigation; Copies of civil complaints, related documents, and results of government study on whistle-blower lawsuits. (1,515 words) . . . More
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Unprecedented Public Sector Deficits Demand New Approach to Government Finances in Major Economies
KPMG and Oxford Economics - 14 August 2010
KPMG and Oxford Economics - A rethink of the way that governments operate, combined with tough cuts to public budgets, is critical if Western industrialized economies are to reduce the major public sector deficits they have incurred in dealing with the recession, a new study from KPMG International and Oxford Economics has found. The KPMG/Oxford Economics study found that maintaining status quo, with current government fiscal policies left unchanged, G7 deficits could reach as much as 200 percent of GDP over the next 10 years and over 300 percent in Japan. (1,165 words) . . . More
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KPMG Acquires Performance Management and Business Intelligence Consultancy, Analitica
Monadnock Research - 12 August 2010
MR - KPMG's Performance and Technology (P&T) Advisory group has acquired Analitica, a leading Business Intelligence (BI) and Enterprise Performance Management (EPM) consulting firm. The company will be absorbed into KPMG BI practice within its P&T group. The acquisition enhances KPMG's expanding advisory arm, while accelerating the company's goal to become a major player in Hyperion Planning implementation, where Analitica's has particular expertise. (310 words) . . . More
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