KPMG Australia has acquired 3 Degrees Consulting, a Melbourne-based business consulting firm which provides advice on performance and reward to boards of directors and senior executives of ASX 200 companies.
A team of 15 advisers, led by managing director turned KPMG partner Stephen Walmsley, will join the big four firm this month.
The 3 Degrees team will sit in KPMG’s tax suite, with the performance and rewards practice.
The firm’s focal consulting services include people and performance, succession and stakeholder communications.
“This acquisition extends our portfolio of leadership development, and performance and reward services, giving us additional depth to address a much broader range of key board issues,”said KPMG’s Gary Wingrove.
Mr Walmsley commented on the move, referencing this as a key growth market for consulting businesses.
“This is a truly dynamic area. Listed company directors are spending ever increasing amounts of time on people and performance issues,” he said.
“Identifying, engaging and developing key executive talent and planning for smoothly executing board and senior executive succession is critical to business success. Company boards are increasingly rejecting the ‘one size fits all’ approach to executive pay touted by many advisers in favour of bespoke, fit-for-purpose solutions that align the earning of rewards with company strategy and shareholder experience.”