Teneo Acquires KPMG’s Restructuring Business in Bermuda
Teneo, the global CEO advisory firm, today announced the acquisition of KPMG’s restructuring business in Bermuda. The transaction further extends the range of market-leading services provided by Teneo’s global Financial Advisory business.
As part of the transaction, Mike Morrison, the former CEO of KPMG in Bermuda, has joined Teneo as Co-Chair, International Financial Centres. With almost 25 years of experience in Bermuda, Mike brings a wealth of client relationships and experience to expand Teneo’s presence in the market. Charles Thresh, former Head of Advisory for KPMG in Bermuda, has also joined Teneo as Head of Financial Advisory, Bermuda.
Teneo’s global Financial Advisory business now includes more than 350 professionals, delivering full-service solutions for cross-border restructuring and insolvency assignments in key markets around the world.
Daniel Butters, CEO of Teneo’s Financial Advisory business, said: “We are delighted to welcome our new colleagues from KPMG in Bermuda as we continue to build our global financial advisory capabilities. Combined with our recent acquisitions in the Cayman Islands and British Virgin Islands, we offer our clients in-depth financial services insight, technical expertise and bench strength in a critical jurisdiction for many international restructuring and insolvency assignments.”
Mike Morrison commented: “I am thrilled to co-lead Teneo’s team in the region. Teneo continues to demonstrate its ambition and commitment to build a world-class financial advisory business that draws upon the breadth of the firm’s broader capabilities in major markets around the world. Teneo provides our team with the unique opportunity to serve clients at the highest level, while also providing opportunities to grow the business and attract top talent in the region.”
Wachtell, Lipton, Rosen & Katz and Walkers Global served as legal advisors to Teneo on the transaction.
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