Big Four Financial services firms EY and KPMG plan to combine their operations in Denmark.
The merged firm will operate under the EY name as part of its Nordics Region, absorbing 1,500 employees across 21 offices.
Erik Mamelund, regional managing partner for EY Nordics commented: ‘This agreement draws on the complementary strengths of EY and KPMG Denmark,’ but declined to say any more until the deal met with regulatory approval.
KPMG global chairman Michael Andrew said: ‘I can confirm that our Danish member firm has decided to leave the KPMG network. We believe a number of non-equity partners and staff will make a positive choice to remain with KPMG.
We remain committed to having a strong, effective and focused firm in Denmark that can serve local and global clients and provides the market with the choice of at least four large professional service firms.’
Both firms will continue to operate separately until the agreement reaches regulatory approval.