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KPMG Relocates to Marischal Square

Marischal Square is the most significant development designed to transform the centre of Aberdeen. It’s a place where an imaginative mix of offices, quality restaurants, coffee shops, hotel, open space and art come together to create a fresh, vibrant, new destination in the heart of Aberdeen’s city centre.

KPMG has announced plans to relocate to the multi-million pound Marischal Square development in Aberdeen, as it eyes further growth in the city.

KPMG is a British-Dutch multinational professional services network, and one of the Big Four accounting organisations.

Historically, the area was known as New Aberdeen. Inspired by its rich historical past, we have created a new place where business and pleasure come together for a bright future. New thinking for a new Aberdeen.

The leading professional services firm will relocate from its current base in Albyn Place to the new city centre location in the Spring.

Final designs and planning are current underway, with more than 140 auditors and advisors moving to KPMG’s new north east home, which will be located on the fourth floor of 1 Marischal Square.

Marischal Square is right in the heart of the city centre. This area forms a central nucleus for business to prosper. It also forms an area that centres around leisure; a bright open courtyard with coffee shops, restaurants, covered space and public space, with gardens where people can socialise, dine out and take relaxed business meetings.

This is an area that’s central to Aberdeen life – an area buzzing with activity. This is not just business central, it’s social central too. Welcome to Marischal Square.

The relocation has been designed to create greater flexibility, bringing teams together for the first time in one open-plan, collaborative space. Plans are also underway to enable clients to make the most of the central location, with event, breakout and shared working spaces.

NFCU Recognised for Customer Experience

Navy Federal Credit Union (NFCU) is a global credit union headquartered in Vienna, Virginia, chartered and regulated under the authority of the National Credit Union Administration.

Navy Federal remains the industry leader for a second consecutive year, ranking #1 among United States companies in KPMG’s 2019 United States Customer Experience Excellence Report. The credit union is being recognised for delivering the best customer experience.

KPMG ranked brands across Six Pillars of Customer Experience Excellence to identify the leaders in each country: Personalisation; Integrity; Expectations; Resolution; Time and Effort and Empathy. Navy Federal is one of only five brands to receive a score 8.5 or more.

The research for this year’s United States report was conducted via an online survey and was completed in May 2019. A total of 7,552 United States consumers who had interacted with a brand in the last six months were interviewed. Each brand needed a minimum of 100 consumer responses to be considered.

Year after year, Navy Federal is recognised for its dedication to creating a satisfying work environment and an exceptional member experience. Earlier this year, Navy Federal celebrated its 9th year on the FORTUNE 100 Best Companies to Work For® List, ranking 29th, the highest in its history.

Other notable accolades include being the Industry Leader for Banks / Credit Unions in Customer Experience in Forrester’s 2019 CX Index™ and No. 7 in Best Workplaces™ in Financial Services & Insurance 2019.

Established in 1933 with only seven members, Navy Federal now has the distinct honour of serving over 8 million members globally and is the world’s largest credit union. As a member-owned and not-for-profit organisation, Navy Federal always puts the financial needs of its members first.

Membership is open to all Department of Defence and Coast Guard Active Duty, veterans, civilian and contractor personnel, and their families. Dedicated to its mission of service, Navy Federal employs a workforce of over 18,000 and has a global network of 336 branches.

KPMG Advisory Hires Graham Boffey

KPMG has announced the appointment of Graham Boffey as insurance partner in its financial services consultancy team, effective October 01.

Graham is a senior partner in KPMG’s Insurance practice. He has over 25 years of experience in financial services, comprising the last 20 years in insurance and 15 at executive level across Life and Savings, General Insurance and Health.

Graham also has 10 years of experience on the GI and Life boards of Aviva, competing across all channels and lines of business, including the launch of the business process automation business, focused on turnaround and growth.

KPMG focus on clients’ big issues and opportunities by providing innovative approaches and deep expertise to deliver real results.

He recently served on the UK exec of Zurich for 18 months, leading distribution across Life and GI, launched a refreshed and successful protection proposition and a refocused commercial GI business.

KPMG LLP is a global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

In his new role, Boffey will work closely with Simon Ranger, head of insurance at KPMG, to support clients across the United Kingdom market.

Boffey brings considerable insurance industry experience and most recently acted as head of United Kingdom distribution at Zurich Insurance.

He began his career at IBM and Barclays, and spent more than a decade at Aviva, where he fulfilled many roles including chief executive officer of Aviva Healthcare, and, later, managing director of corporate benefits.

He is the Global Lead Partner for Aviva, having re-joined KPMG in October 2019 from Zurich.

IPC Scoops Two Trophies at SBR Technology Excellence Awards

IPC, a leading global provider of secure, compliant communications and networking solutions for the financial markets community, today announces the win of two awards in the 2019 Singapore Business Review Technology Excellence Awards.

Best Connectivity for Financial Services – Connexus Cloud earned IPC the award for “Connectivity for Financial Services”. IPC’s Connexus Cloud is a high-performance financial markets cloud solution for data, voice and enterprise communications and compliance. Connexus Cloud helps firms trade faster, scale with greater ease, and achieve greater agility, productivity and efficiency, resulting in a significant competitive advantage.

Best Infrastructure Technology for Financial Services – IPC’s Unigy platform was named the winner of the “Infrastructure Technology for Financial Services” category. Unigy, IPC’s flagship solution, has been recognised globally for years as the industry’s dominant trading and communications platform. It is a widely adopted, secure, compliant, end-to-end solution purpose-built to address the specific needs of the global regulated financial markets community.

To express its appreciation for innovative technological solutions with a wide-ranging influence, Singapore Business Review pays tribute to firms that have launched extraordinary products, services, and strategies in the past two years.

To be recognised at the 2019 SBR Technology Excellence Awards, nominees have to meet the criteria of uniqueness and innovation, effectiveness and impact, and dynamism, which are essential elements of success in the digital era.

The inaugural awards ceremony was held on May 30, 2019 at the Conrad Centennial Singapore.

This year’s nominations were judged by a panel consisting of professional advisers from Ernst & Young LLP, Nexia TS, KPMG, BDO LLP,  RHTLaw and Taylor Wessing LLP.

IPC Overview

IPC is a technology and service leader powering the global financial markets. We help clients anticipate change and solve problems, setting the standard with industry expertise, exceptional service and comprehensive technology.

With a customer-first mentality, IPC brings together one of the largest and most diverse global financial ecosystems spanning all asset classes and market participants.

As the enabler of this ecosystem, IPC empowers the community to interact, transact and react to market changes and challenges, and we collaborate with our customers to help make them secure, productive, compliant and connected.

KPMG Recognised For Customer Service Consulting

KPMG is a global network of professional firms providing Audit, Tax and Advisory services. We have 227000 outstanding professionals working together to deliver value in 146 countries and territories.

The ALM Vanguard report ranks Customer Service consulting firms based on their capabilities to create client impact through their depth of expertise and the ability to deploy across a range of engagement models.

With a worldwide presence, KPMG continues to build on our successes thanks to clear vision, defined values and, above all, our people.

In ALM’s in-depth analysis of global firms, the report highlights the effectiveness of KPMG’s Six Pillars approach to Customer Experience Excellence.

“KPMG approaches customer service consulting within the context of accelerating differentiated customer experiences through the lens of the Six Pillars of Experience Excellence: Personalisation, Integrity, Expectations, Time and Effort, Resolutions and Empathy,” writes ALM’s Matthew A. Merker, Senior Analyst, Management Consulting Research.

ALM’s report cites KPMG as ‘Best in Class’ for its Customer Service Operating System capability and recognises the impact of KPMG’s Connected Enterprise framework in helping clients transform their customer experience.

This report aims to help clients improve their delivery of a valuable customer experience:

  • Customer service economics that includes rapid assessment of the customer-service landscape to prioritise change that balances cost-to-serve with value.
  • Intentional service design that enables best practice customer journeys and service processes through intelligent data engineering and market alliances.
  • Innovative self-service capabilities that empower customers to self-serve more often and interact across channels.
  • Modernised workforces that are equipped with digital tools to augment capability and deliver the highest value.

The ALM Vanguard assesses firms in terms of their relative ability to create impact for their clients by displaying the relative position of workforce management consulting providers based on an evaluation of their overall capabilities according to a consistent set of criteria.

The KPMG Legal Services Division Reports Record Revenue Growth

Revenue growth refers to an increase in revenue over a period of time. In accounting, revenue growth is the rate of increase in total revenues divided by total revenues from the same period in the previous year. Revenue growth can be measured as a percent increase from a starting point.

KPMG’s legal services division revenue rose by more than 30 percent in 2018 in a record-setting performance, according to the firm that expects growth to continue in a burgeoning market that’s stoking concerns among traditional law firms about potential competition.

Such fast-paced expansion into the legal sector is in line with the three other Big Four accounting firms—Deloitte, EY, and PwC. Each has made major inroads into global legal services recently in jurisdictions outside the United States where these firms are allowed to practice law.

KPMG said in a press release that its legal practice added 20 partners last year, expanding to more than 2300 legal professionals worldwide.

The Big Four differ from most traditional law firms in that they offer many other services to clients aside from just legal advice, often leveraging their capabilities in tax, audit, technology and consulting.

KPMG said last month that it had expanded its law offerings to Hong Kong through its new affiliated legal practice, SF Lawyers. KPMG hopes to grow that office to 20 attorneys in its first year. At the same time, the firm expects to open an associated office in Shanghai later in 2019.

KPMG attributes part of its legal sector progress to the launch of its new Legal Operations and Transformation Services units that aim to assist legal departments in streamlining their operations.

That service is available across KPMG’s global network of lawyers and offers departments help with advancing their legal technology and finding proper sourcing for their work.

KPMG’s announcement comes as its professional services peers have made similar entrees into legal markets in Asia, South America, and the Middle East. Last September, for example, EY touted its extended legal services reach to more than 2200 legal practitioners in more than 80 countries.

The Big Four are restricted by regulations and state bar rules from opening law offices in the United States that serve domestic clients.

Yet some have managed to gain a foothold, which has served to stoke concerns among United States law firms about the possibility they may someday face tough competition from companies with significant size, international scope, advanced technology, and revenue advantages.