Learn about the history of KPMG from the beginning to the far reaching business that it is today.
The KPMG network was formed in 1987
The KPMG network was formed in 1987 when Peat Marwick International and Klynveld Main Goerdeler merged along with their respective member firms.
Principal founding members
There were four key figures in the formation of KPMG. They are the founding members of the present organization.
William Barclay Peat
William Barclay Peat (the P in KPMG) started his career in accountancy at just 17, working for Robert Fletcher & Co. He quickly rose through the ranks, and in 1891, Peat assumed leadership of the firm, and renamed it William Barclay Peat & Co.
In 1897, the US firm Marwick, Mitchell & Company got its start in New York City. The company was formed by James Marwick (the M in KPMG) and Roger Mitchell, both Scottish immigrants. It wasn’t easy establishing a firm in the city; many thought there was no place or need for accountants, but the two soon built a strong reputation.
In 1917 Piet Klynveld (the K in KPMG) opened a small accounting firm in Amsterdam. Jaap Kraayenhof joined and the firm became Klynveld Kraayenhof & Company (KKC). By the time Klynveld passed away in 1946, he left behind the largest accounting firm in the Netherlands.
Dr Reinhard Goerdeler was the first president of the International Federation of Accountants and a chairman of KPMG. He was instrumental in the formation of Klynveld Main Goerdeler, a key precursor of today’s KPMG.
In Bulgaria, KPMG was established in 1992 and presently has more than 300 professionals and three offices in Sofia, Varna and Burgas.