Big Four firm KPMG plans to double its UK legal practice over the next three years as part of a ‘fundamental transformation’ of its wider business.

KPMG Law, which was established in 2014, said today that it is looking to take on a further 220 lawyers – including 45 partners and directors – by the end of 2024, which would see the total number of practicing solicitors increase to more than 400.

The expansion is ‘a critical element of KPMG UK’s £300m growth strategy … to support the long-term growth and fundamental transformation of its UK business’, KPMG said, adding that the move also reflects ‘the importance of the UK market to KPMG global legal services’ growth strategy’.

Stuart Fuller, KPMG’s head of global legal services, said the firm was creating ‘a different type of law offering’. ‘We’re delivering integrated legal services with high-performing lawyers supporting businesses across their geographic footprint,’ he added. ‘Few can match such reach.’

Nick Roome, head of KPMG Law in the UK, said: ‘The UK legal services market is growing and evolving rapidly. Technology is disrupting the market and clients are changing the way they buy legal services. As business leaders, in-house counsel and high net worth individuals face a myriad of complex issues, there is a real drive towards quality counsel that’s empowered by cutting-edge technology and is thoroughly integrated with other advisory services.

‘This connected approach is a key principle that has shaped our vision for KPMG Law and has made our practice a critical element of KPMG’s future growth strategy.’

A recent study by LexisNexis found that Big Four accountancy firms have abandoned plans to ‘be like law firms only bigger’ and are focusing on work that traditional City firms turn down. It estimated that KPMG tripled its legal services revenue from £12m to £45m between 2016 and 2020.

 

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