Being an established practice, KPMG Luxembourg offers the whole spectrum of KPMG’s services with a strong focus on the financial services sector. With a 21 percent audit market share in regulated investment funds, KPMG ranks amongst the leading accounting and advisory firms. KPMG Luxembourg’s clients include a variety of subsidiaries of internationally operating banks and insurance companies as well as the European Investment Bank, for example. Nearly 900 people are working for KPMG Luxembourg. In fiscal year 2008, turnover was more than 100 million Euros.

Karin Riehl, Senior Partner at KPMG Luxembourg, states: “Joining ELLP for a practice like ours reflects the nature of our client base, being international and operating mainly in a highly regulated market segment (Financial Services, Asset Management). For us, it is a natural step forward to enhance our service delivery capability and responsiveness, not only in Luxembourg but within markets that more and more globalize and therefore need quick and highly specialized expertise and delivery.”

KPMG Europe LLP already comprises Germany, the UK, Switzerland, Spain and Belgium. As previously announced, KPMG Netherlands, KPMG CIS (including Russia, Ukraine, Kazakhstan, Kirgizstan, Georgia and Armenia) and KPMG Turkey also join KPMG Europe LLP on 1 October.

John Griffith-Jones and Rolf Nonnenmacher, Joint Chairmen of KPMG Europe LLP, state: “Our family is continuously growing and attracting further countries. Under the common roof of KPMG Europe LLP, we are able to raise synergies and efficiency and at the same time to benefit our clients from the specific strengths of our member firms. This is an enormous competitive advantage which we will systematically develop.”