Teneo acquires KPMG’s restructuring business in Bermuda

Teneo, the global CEO advisory firm, has announced its acquisition of KPMG’s restructuring business in Bermuda. The transaction further extends the range of services provided by Teneo’s global financial advisory business.

It follows Teneo’s acquisition of KPMG's restructuring arm in the Cayman and British Virgin Islands, announced in January, and the restructuring services business of Deloitte UK, in February last year.

As part of the latest transaction, Mike Morrison, the former CEO of KPMG in Bermuda, has joined Teneo as co-chair of its international financial centres. Charles Thresh, former head of advisory for KPMG in Bermuda, has also joined Teneo in the same role.

Daniel Butters, CEO of Teneo’s financial advisory business, said the acquisitions in Bermuda, the Cayman Islands and British Virgin Islands, mean it offers its clients “in-depth financial services insight, technical expertise and bench strength in a critical jurisdiction for many international restructuring and insolvency assignments”.