Revenue of KPMG worldwide by industry 2010-2019

KPMG generated most of its revenue from the financial services industry in 2019, with the sector accounting for around 9.11 billion U.S. dollars of its total income. More than half of the accounting firm’s overall revenue was generated from the combined industries of financial services and industrial markets.

Why are financial services in demand?

KPMG reported growth in each of the five industry sectors it serves in 2019, helping the firm achieve a record annual revenue of 29.75 billion U.S. dollars worldwide. The financial services industry saw the most growth with figures increasing by one billion U.S. dollars between 2017 and 2018. Demand for financial services from banking institutions has increased in recent years due to emerging global issues such as advancements in digital technology. Many banks are seeking the expert advice provided by accounting firms to help manage the pressures and build for the future.

KPMG at a glance

KPMG recovered from a decade of setbacks to report record revenue figures in 2019 but it remains the smallest of the Big Four accounting firms worldwide. The early roots of the firm can be traced back to 1870, but its recent history begins with the merger of Peat Marwick International (PMI) and Klynveld Main Goerdeler (KMG) in 1987. The firm’s name was formed by using the initials of its principal founding members: Klynveld, Peat, Marwick, and Goerdeler. In 2020, the firm employed almost 227,000 members of staff worldwide, with over half of those employees being based in Europe, the Middle East, and Africa.