Christchurch business advisory firms to integrate

News Release 30 June, 2008

Christchurch business advisory firms to integrate operations

The former Christchurch-based partners of KPMG and Hadlee Kippenberger & Partners and Ernst & Young New Zealand have agreed to integrate their operations, effective from today (30 June).

Bruce Gemmell, the former senior partner of KPMG Christchurch, said the move brings together nine partners and over 150 staff, making it the leading corporate financial advisory firm in the South Island.

The combined businesses will trade as Ernst & Young, Hadlee Kippenberger & Partners and HKPeople from existing locations and will relocate to one site as soon as possible, Mr Gemmell said.

“The merger is seen as highly desirable by both parties, as it combines complementary business advisory services, a shared work culture and experienced staff into one strong entity.

“Importantly, it brings the critical mass, financial expertise and earnings capacity necessary to handle substantial growth in demand for our services at regional, national and international levels.”

John Hodge, the senior partner of Ernst & Young in Christchurch, said the merger fitted the firm’s regional investment strategy to position itself as the leading provider of professional advisory services.

“The merged operation will have the ability to provide a large number of South Island clients with a superior range of audit, taxation, insolvency, transaction and organisation development services,” he said.

“It represents an exciting opportunity to establish ourselves as the pre-eminent source for business and financial advice across all sectors of the growing South Island economy.”

He said the merger also creates opportunities for staff and partners within the larger firm, offering greater scope for specialisation and management roles.

ENDS

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