May 20, 2020

Ferrier Hodgson set to merge with KPMG

KPMG
Big Four
Merger
financial services
Sarah Smith
2 min
Ferrier Hodgson set to merge with KPMG

Leading Australian financial advisory and restructuring specialist Ferrier Hodgson has announced that it will merge with Big Four accountancy firm KPMG, creating one of the largest restructuring services and forensic advisory firms in Australia.

In a 14 March press release, Ferrier Hodgson said the merger will significantly expand its operational footprint of 27 partners and over 200 specialists across Australia.

James Stewart, Ferrier Hodgson’s Practice Leader, will lead the merged business alongside Matthew Woods, National Head of Restructuring Services at KPMG Australia.

“Strategically, the merger gives our team immediate access to a diverse range of skill sets to better engineer operational turnaround and add a lot more value to clients,” Stewart said in the press release.

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“This is something we were already building organically through our Azurium consulting business but the merger represents a step-change in our capability, allowing us to respond to market demand for more holistic solutions to financial stress and organisational change.”

Gary Wingrove, CEO of KPMG Australia added: 

“The Ferrier Hodgson team is very experienced, with a great reputation, and we are delighted to be welcoming them to the firm. The rationale for a merger was compelling, with KPMG and Ferrier Hodgson a great fit strategically and culturally. The combination of our operations with Ferrier Hodgson will immediately and significantly strengthen the breadth and level of service we can offer our clients in the restructuring and forensic advisory sphere.”

The deal, whose terms remain confidential, will be completed on 30 June 2019.

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Jun 7, 2021

Business Chief Legend: Ho Ching, CEO of Temasek

hoching
legend
singapore
Temasek
3 min
Singaporean Ho Ching created the largest listed defence engineering company in Asia, before leading Singapore’s sovereign wealth fund to global success

Ask Singaporeans who Ho Ching is, and the majority will answer the ‘wife of Prime Minister Lee Hsien Loong’. And that’s certainly true. However, she’s also the CEO of Temasek Holdings, Singapore’s sovereign wealth fund, and one of the world’s largest investment companies.

Well, she is until October 1, 2021, as she recently announced she would be retiring following 16 years as CEO of the investment giant.

Since taking the reins in 2004, two years after joining Temasek as Executive Director, Ho has gradually transformed what was an investment firm wholly owned by Singapore’s Government into an active investor worldwide, splashing out on sectors like life sciences and tech, expanding its physical footprint with 11 offices worldwide (from London to Mumbai to San Francisco) and delivering growth of US$120 billion between 2010-2020.

Described by Temasek chairman Lim Boon Heng as having taken “bold steps to open new pathways in finding the character of the organisations”, Ho is credited with building Temasek’s international portfolio, with China recently surpassing Singapore for the first time.

As global a footprint as Ho may have however, she has her feet firmly planted on Singapore soil and is committed to this tiny city-state where she was not only educated (excluding a year at Stanford) but has remained throughout her long and illustrious career – first as an engineer at the Ministry of Defence in 1976, where she met her husband, and most notably as CEO of Singapore Technologies, where she spent a decade, and where she is credited with repositioning and growing the group into the largest listed defence engineering company in Asia.

It’s little wonder Ho has featured on Forbes’ annual World’s Most Powerful Women list for the past 16 years, in 2007 as the third most powerful woman in business outside the US, and in 2020 at #30 worldwide.

But it’s not all business. Ho has a strong track record in Singapore public service, serving as chairman of the Singapore Institute of Standards and Industrial Research and as deputy chairman of the Economic Development Board; and is a committed philanthropist with a focus on learning difficulties and healthcare.

As the pandemic kicked off, she not only led active investments in technology and life sciences, with German COVID-19 vaccine developer BioNTech among the most recent additions to Temasek’s portfolio, but through the Temasek Foundation – the firm’s philanthropic arm which supports vulnerable groups close to Ho’s heart, handed out hand sanitiser and face masks.

So, you would be forgiven for thinking that at age 68, Ho might simply relax. But in March 2021, just as she announced her retirement from Temasek, Ho joined the Board of Directors of Wellcome Leap, a US-based non-profit organisation that’s dedicated to accelerating innovations in global health. Not ready to put her firmly grounded feet up yet it seems.

 

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