KPMG names Blair Nimmo CA as new Head of Restructuring
Blair Nimmo CA has been appointed as the new UK Head of Restructuring of KPMG, the Big Four firm has announced.
Blair, who was previously head of KPMG’s restructuring practice in Scotland, will lead a team of 31 partners and 550 restructuring professionals.
KPMG’s UK restructuring arm brought in over £100m in fee income last year.
Blair has over 30 years of corporate restructuring experience and has worked on a number of high profile insolvency cases, including Ferguson Shipbuilders, Scottish Coal and Dunfermline Building Society.
Image: Blair Nimmo CA
He takes over as UK Head of Restructuring from Mark Firmin, who is leaving the Big Four firm after joining in October 2014.
Sky News reported that Mark has left KPMG to join professional services firm Alvarez & Marsal (A&M), but this is yet to be confirmed.
It has also been reported that KPMG recently turned down an offer from A&M to acquire part of the Big Four firm’s advisory business.
Simon Collins, UK Chairman of KPMG, said: "Blair Nimmo has a great reputation in the market place. Our restructuring practice is market-leading and, despite relatively benign economic conditions in the UK, is securing the most high profile projects, such as the administration of First Oil Expro Limited.
"Unsurprisingly, in uncertain economic conditions, restructuring businesses are attractive prospects to trade and private equity buyers and we have already seen deal activity in the sector. We have recently received an offer for our own restructuring practice but have declined this offer as the business is an integral and profitable component of our multi-disciplinary firm.
"I have great confidence in Blair Nimmo's ability to lead the business to continuing, and greater, success."
Blair Nimmo CA, UK Head of Restructuring at KPMG, added: “KPMG has a strong reputation for delivering innovative approaches to complex restructuring problems, such as pioneering the use of company voluntary arrangements and taking the first appointment of the special administration regime introduced for insolvent financial institutions. As an integrated part of a ‘Big Four’ accountancy firm, we also benefit from the skills and knowledge of our colleagues in professional disciplines such as audit and industry sectors such as financial services.
“The UK economy has been relatively strong in recent years, with suppressed insolvency appointments as a result. However, our business has performed well, securing appointments such as Alpari last year, and is in a good position for the future.”