KPMG intends to combine its Swiss and UK companies

One of the Big Four accounting companies in the world, KPMG, said on Thursday that it is considering merging its Swiss and UK operations in an effort to increase profits.

According to Jon Holt, CEO of KPMG UK, the company has begun discussions with the Swiss division about collaborating closely for the benefit of partners and clients.

"Together, we would grow faster, be more profitable and do so in a sustainable way," Holt stated.

On Wednesday, the Financial Times broke the story of a potential merger first. According to the report, KPMG employs around 17,000 individuals in the UK and 2,600 people in Switzerland.

In October, Reuters revealed that KPMG intended to eliminate over 100 positions within its UK deal advising division.

(Sources: investing.com, reuters.com)