KPMG to double size of UK legal practice as part of ‘once-in-a-generation’ growth strategy
Big Four accountancy firm KPMG is set to double the size of its UK legal practice over the next three years, as it pushes forwards with plans for its “once-in-a-generation” growth strategy.
The plan is set to see KPMG hire 220 new lawyers – including 45 new partners and directors – by the end of 2024.
The hiring spree comes after KPMG UK parnters backed CEO Jon Holt’s plans for a £300m “once-in-a-generation” growth strategy, through which the firm aims to bolster its offerings in high-growth areas.
At the time, Holt said the firm would be investing in “multi-disciplinary services” to help clients adapt their businesses to the “triple whammy” of Brexit, climate change, and covid-19.
The plan also comes as KPMG seeks to capitalise on the UK’s lucrative legal sector, which is currently the second biggest legal services market in the world.
First set up in 2014, KPMG Law operates out of five hubs across the UK in London, Leeds, Manchester, Reading and Birmingham.
At a global level, KPMG Law employs 3,000 lawyers in 80 different countries across the world.
The plan comes after a report from LexisNexis found that the Big Four had begun to offer legal services that traditional law firms do not offer.