KPMG ABS: “No plans to develop any kind of standalone legal practice”

KPMG UK chairman Simon Collins said today that the Big Four firm has no plans to create a standalone legal business as a result of gaining ABS approval from the Solicitors Regulation Authority.

The firm claims to be the first multidisciplinary practice to pick up an ABS licence, in contrast to PwC which gained an ABS for its affiliated legal business, although it is not the first multidisciplinary business to go down the ABS route.

But an ABS can just be the beginning of change. Parabis is also an ABS and operates several service lines, some of which are non-legal. Having made several acquisitions over time, the firm is currently in the process of streamlining its structure in a bid to create order out of an increasingly chaotic variety of brands.

Having started to consolidate its multi-site offices and invested heavily in standardising its IT systems, the firm announced today that it would shut its offices in Bristol and Colchester, affecting 41 staff in both legal and support roles.

KPMG’s licence and Parabis’s restructuring are just the latest in a string of ABS news in recent weeks – check it all out on our dedicated ABS news page.

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