KPMG Luxembourg managing partner David Capocci says  WILI

KPMG Luxembourg managing partner David Capocci says  WILI

For its last financial year, which ran from 1 October 2020 to 30 September 2021, KPMG Luxembourg saw its turnover increase by 9% to €257m euros. Managing partner David Capocci is delighted with the results.

is a satisfied managing partner. On Monday 31 January, KPMG Luxembourg presented positive annual results for the year from 1 October 2020 to 30 September 2021. Over the period, the turnover of the Luxembourg entity grew by 9% to €257m. As a result of this growth, KPMG has announced that it will review its salary package by an average of 15%.

The audit, tax services and consulting business lines all enjoyed growth of 9%, 8% and 11% respectively, "with targeted increases in activity, particularly in the private equity sector, where revenues have more than doubled in the last two years", KPMG says. Audit remains the firm's largest business with revenues of €122m, followed by advisory services with €71m and tax services with €64m.

“All sectors (alternatives, asset management, banking, insurance, public sector and corporates) showed significant, and for some double-digit, growth in 2021 thanks to developing closer relationships with our clients even if we were unable to physically meet due to covid-19,” explained , head of sales & markets.

"We continue to help our clients in their digital and commercial transformation, to adapt their organisation to current and future regulatory changes and, of course, to turn all these challenges into successes to make companies even more successful."

Towards a hybrid way of working

KPMG employed 1,800 people at the end of September 2021 and recruited 500 people in its last financial year. The firm says human resources are at the heart of its strategy. In addition to the salary package review, David Capocci says that KPMG this year launched “many initiatives to get closer to our employees”. These include “regular all-staff broadcasts with leadership updates, Innovation Challenges around the Future of Work for our staff and a greater feedback culture to help them grow into their careers.” The firm has placed emphasis on the personal development of its employees by increasing its training offer by 16%. 57% of this training is available online.

In response to the pandemic and changes in working habits, KPMG has also stepped up communication with its staff "in order to be as close as possible to our employees," and to involve them in the future hybrid working model that the firm is working on "in order to make it sustainable and attractive for our employees".

Among the highlights of the year, Luxembourg became KPMG's centre of excellence for managed services activities in the EMEA region (Europe, Middle East and Africa).

Innovation

Chief Innovation Officer said that KPMG’s continued focus on innovation and transformation is enabling its teams’ creativity for delivering better experiences and insights. “To upskill our leaders and teams’ digital skill sets, we are investing in signature firm features such as our Digital MBA program in partnership with Vlerick Business School and “Low Code, No Code” initiatives,” he added. “We also launched a firm-wide project to transform our own operating model to be more future-ready.”

KPMG Luxembourg has also been awarded CarbonNeutral certification. "We were independently assessed for greenhouse gas emissions and now are reducing our emissions as much as possible by decreasing the number of petrol vehicles in our car leasing fleet and reducing operating consumption through our hybrid working model,” said Capocci.