Managing partner at KPMG Luxembourg Philippe Meyer unveiled the 2019 figures at a press conference attended by other leaders in the company. Break down of the figures reveals that tax services grew the most in the last 12 months, up 11% to €61 million, while advisory grew by 8% up to €68 million and audit by 5% to €103 million.

The firm says it attributes its sustained success--it also enjoyed growth of 8% in 2018--to “helping its people, its clients, as well as the local communities focus on achieving their full potential in 2019.”

Potential seemed to be the keyword in presentations made by the heads of units, with Meyer saying that there was no better example of the grand duchy, which continues to punch above its weight as a financial centre, of “outshining potential.”

Pascal Denis, head of advisory, said that despite rising uncertainty on the back of geo-political tensions KPMG had helped its clients meet multiple challenges. “Growth has remained a critical priority for many of our clients, and on that front we have seen very strong activity in mergers, acquisitions, disposals, restructuring across all sectors of the economy.” Denis also cited what the company is now calling co-creation partnerships with the likes of IBM Watson, with whom KPMG has developed a robot to answer HR related questions in financial service institutions to provide a better service to employees.

Technology and particularly the cybersecurity, digital transformation and the increasing importance of AI was also the focus of a presentation by head of markets Frauke Oddone. She explained that in 2019 firm in Luxembourg had invested in increasing its capabilities and capacities, but also that KPMG International announced last week that it would invest some $5 billion over the next five years in technology, people and innovation to accelerate digital transformation.

Head of people, Thierry Ravasio, said the company was fostering a strong culture of training and upskilling. But Denis also threw in what he called a “provocative” curve ball when he said that KPMG was prepared to search for talent, particularly those with high skills in technology, further afield than the greater region--KPMG teams include today come from India, eastern Europe, the United States and Ireland, he said. “I think in Luxembourg, if we promote the country with a good value proposition, we can attract that talent…but how many of our clients do that proactive search for talent elsewhere?”