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Our firm

Year in review


“When I was appointed Chief Executive in 2021, I set out to do three things: build trust in KPMG, drive performance and invest for growth.

It’s a time of change and uncertainty, but I’m proud of how our firm has responded.

Guided by our values, we’ve created a strong culture where all colleagues can thrive. We’ve invested heavily in technology, our people and our processes – so we can support our clients in a complex and rapidly changing world. And our people have worked exceptionally hard over the past year to deliver strong revenue growth for our firm against a challenging economic backdrop.

UK businesses need certainty to plan for the future and I am confident that our long-term strategy and investments are putting the right foundations in place to deliver sustainable growth for our firm and our clients.”

Jon Holt / Chief Executive and Senior Partner, KPMG in the UK

Jon Holt, Chief Executive and Senior Partner, KPMG in the UK Play video Jon reflects on the performance of the firm in 2023 with colleague Lola

Annual Results overview 2023

We recorded revenue growth of 9% to £2.96 billion in 2023, despite a challenging economic environment. We’ve invested in our people through last year’s economic cycle to build capacity for future growth.

We increased our headcount by 8% last year to more than 18,000 people, with investment in talent underpinning our three-year strategy for sustainable growth.

Total revenue /
(FY22: £2.72bn)
Change in revenue /
(FY22: +16%)

Building a strong culture

We’re committed to building a stronger culture at KPMG. One that is open and inclusive, that attracts the best talent and enables everyone to thrive.

We continue to invest in our people, recognising their huge contribution. Over the year, we’ve promoted 1,945 colleagues and hired 2,573 experienced hires and almost 1,400 graduates and apprentices across the breadth of our UK offices.

During Values Week we celebrated our shared values with a week of activity including guest speakers and learning sessions. We recognised the colleagues and teams who exemplify our values with the People Awards. And we followed Values Week up with ‘Values Immersion’ sessions, where all of our people engaged in meaningful discussions about our values.

Building an inclusive, diverse and equitable business remains a priority and we’re advancing against our 2030 targets. We’ve made great progress especially towards improving gender parity. Firmwide our organisation is now made up of 49% female colleagues, and this is really significant amongst our graduate and apprentices, where more than half of this year’s intake were female. All three of our capabilities are now led by women.

Our ground-breaking research published with the Bridge Group shows that socio-economic background had the strongest effect on progression. So we are passionate about addressing these challenges. We’ve launched a targeted promotion readiness programme and added socio-economic background as a key checkpoint across our people processes. KPMG were the first to set social mobility targets and pay gaps in 2021.

We’re looking at how we can impact change in wider society too and are determined to open up access to our industry. We’ve made a commitment to support one million young people to build their skills by 2030, targeting areas that are most in need. And we’re continuing our work with Key4Life, an organisation that helps give offenders a second chance and better access to opportunities.

You can find out more on our dedicated Inclusion, Diversity & Equity pages.

Female UK Board members / 44% Jan 24
(Jan 23: 44%)
31% / promotions were Ethnic minority colleagues 1 Oct 23
(1 Oct 22: 29%)
New experienced hires from a lower socio-economic background / 18% FY23
(FY22: 21%)
90% / of our colleagues feel they know what they need to do to live our values in their day-to-day work 2023 Global People Survey1
(FY22: 91%)

1) 2023 Global People Survey data is based on 13,434 colleague responses. 2022 Global People Survey data is based on 11,069 responses.

Investing for growth

We’ve stepped up the embedding of digital technologies in all areas of the business. Our landmark global Microsoft alliance gives us access to the latest in AI and Cloud technology. This alliance underpins our strategy of sustainable, high quality audit. We’ve also invested heavily in our governance, controls, technology, culture and training. This year, we’ve also concluded a decade’s worth of legacy cases. You can find out more about the steps we’re taking in our Transparency Report.

We launched Ignition North in Manchester, bringing together expert insights, people, and technology in a 25,000 square foot collaboration hub.

And our new global alliance with Mindbridge brought advanced AI into the firm’s digital audits. It embeds statistical, machine learning, and rules-based analytics technology into KPMG Clara, KPMG’s smart audit platform, further enabling the identification of unexpected or high-risk transactions.

Our investment extends to the communities in which we live and operate. A record breaking 49.7% our people either volunteered or fundraised to support causes important to them through 105,142 volunteering hours (up from 6,149 volunteers contributing 76,780 hours in 2022). Everyone at KPMG has six days per year to volunteer.

We set ourselves the challenge of raising £1 million in 2023 for our national charity Marie Curie and thanks to our people, we have exceeded this goal.

The firm also met its target of using only renewable electricity by 2024 with 100% of its electricity is now backed by Renewable Energy Guarantees of Origin.

You can find out more on our Community and Planet pages.

Individuals directly supported / 173,500 FY23
(FY22: 64,837)
Number of volunteers during working hours / 8,592 FY23
(FY22: 6,149)
Community contribution (cash, time, in-kind and management costs) / £12.7m FY23
(FY22: £11.3m)
Organisations supported / 1,665 FY23
(FY22: 1,295)