Teneo Acquires KPMG’s Cayman and British Virgin Islands Restructuring Business
Teneo, the global CEO advisory firm, today announced the acquisition of KPMG’s Cayman and British Virgin Islands (‘BVI’) restructuring business. The transaction further extends the range of market-leading services provided by Teneo’s global Financial Advisory business.
KPMG’s Cayman and BVI restructuring business, comprising over 25 professionals, will add specialist expertise in local and international restructuring, insolvency, e-Discovery and forensic technology services to Teneo’s global Financial Advisory offering. The team joining Teneo represents one of the most comprehensive and well-established of any restructuring and insolvency practices in the Caribbean – home to some of the key offshore jurisdictions for the restructuring market.
As part of the transaction, Kris Beighton, the former leader of KPMG’s Cayman and BVI restructuring business, will join Teneo as Chairman of Teneo’s offshore restructuring business. Kris brings a wealth of client relationships and experience and, alongside Lead local Senior Managing Directors Jeffrey Stower and Russell Crumpler, will help drive the growth of the Cayman and BVI practice.
The acquisition expands the Teneo footprint into another key financial market, bringing its global Financial Advisory headcount to 350 professionals across the U.S., Europe, Asia-Pacific and the Caribbean. It also enhances Teneo’s ability to deliver a full-service solution for cross-border restructuring and insolvency assignments. The introduction of e-Discovery and certain forensic technology services in the region complements Teneo’s existing capabilities and provides a strong platform for growth.
Paul Keary, CEO of Teneo, said: “We are delighted to welcome our new colleagues from KPMG’s Cayman and BVI restructuring team to Teneo as we continue to grow in key markets around the world and build our financial advisory capabilities. Kris, Jeffrey, Russell and the team bring unparalleled experience in this key market, and we are very excited to bring their expertise to our platform.”
Daniel Butters, CEO of Teneo’s Financial Advisory business, said: “The acquisition of KPMG’s Cayman and BVI restructuring business represents the next milestone on our journey to build the leading global restructuring practice and wider financial advisory offering. Cayman and BVI are a critical jurisdiction in many international restructuring and insolvency assignments, and the addition of e-Discovery and certain forensic technology services complements our existing offerings and provides an exceptional platform for growth.”
Kris Beighton commented: “Teneo is the perfect fit for our people and business. Teneo’s commitment to client service, wide range of service offerings around the world, and vision to build a global financial advisory business aligns with our ambition for the growth of our Cayman and BVI practices. Our focus will remain on delivering world-class services to our clients and investing in and developing our people. We look forward to starting our journey as Teneo.”
Wachtell, Lipton, Rosen & Katz and Walkers Global served as legal advisors to Teneo on the transaction.
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