KPMG Australia has acquired 3 degrees consulting, a leading independent business providing strategic advice on performance and reward to boards of directors and senior executives of ASX 200 companies.
Led by Managing Director, and new KPMG Partner Stephen Walmsley, the team of 15 advisers with backgrounds in law, finance, economics, human resources and communications join KPMG this month, based in Melbourne.
Announcing the investment today, KPMG Australia CEO Gary Wingrove commented, “Executive remuneration, leadership planning and board effectiveness are clearly front of mind for boards and the c-suite. 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,” he added.
3 degrees consulting’s key services include ‘People and Performance’ (remuneration and reward, board review and executive talent review); ‘Succession’ (assistance to effectively and proactively plan and execute for both board and senior management succession); and ‘Stakeholder Communications’ (communicating change internally and to the market).
Stephen Walmsley has been an independent advisor to the boards of many of Australia’s leading listed companies. A lawyer by background, he brings extensive boardroom experience ranging from takeovers and mergers and acquisitions, to c-suite leadership development, succession planning and execution of change, and aligning incentive remuneration with strategy.
Commenting on the deal, Stephen Walmsley said: “Joining KPMG is an amazing opportunity for us. Not only does it provide access to the unrivalled resources and expertise of KPMG in helping to provide innovative solutions to our ASX listed clients in the areas of leadership, performance and reward, it is an opportunity for us to join KPMG’s existing dynamic Performance & Reward business and focus on merging our two very talented teams into Australia’s pre-eminent Board Advisory practice.”
“This is a truly dynamic area. Listed company directors are spending ever increasing amounts of time on people and performance issues,” he continued. “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.”
KPMG’s Performance & Reward team provides strategic advice, insights and solutions that help organisations attract, engage and retain key executives and broader workforce. Data, analytics and design thinking techniques are used to develop innovative solutions that drive performance across organisations.
The newly combined KPMG/3 degrees consulting team of more than 30 specialists nationally complements KPMG’s broader people advisory, change management, taxation advisory and legal capability in this area.
Head of Communications, KPMG
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