KPMG to launch election process for next global chair

KPMG, one of the world's big four accountancy firms, is preparing to kick off a process to select its next global chairman amid growing speculation that its UK chief intends to stand for the role.

Sky News has learnt that Jon Holt, who has been chief executive of the professional services giant's UK arm since 2021, is being widely touted by colleagues as a contender to replace Bill Thomas as chair of KPMG Global next year. The formal election process will not get under way until the first half of 2026, according to insiders.

Money latest: My insurance firm charged me £700 after my dog died - is this right? Under Mr Holt's stewardship, KPMG's financial performance and governance have been stabilised following a torrid period in which it was hit by multiple fines for audit failings. The most notorious of these related to Carillion, the collapsed construction giant.

KPMG has not yet disclosed details of the process of electing Mr Thomas's successor, although the incumbent was chosen by KPMG's global council, which includes representation from all member firms. Previous chairs of KPMG's global network, including the Brit Sir Mike Rake, have combined the role with leading their domestic firm, although it was unclear whether such a dual role would still be seen as viable.

In a statement issued to Sky News, a KPMG International spokesperson said: "Bill Thomas's term as KPMG Global chairman and CEO runs to September 30 2026. "KPMG has an established process for electing a new global chairman and we expect to announce succession plans in spring 2026." Read more from Sky News:Unemployment rate highest in four yearsPaternity pay in UK 'among lowest in developed world'Government commits £14.2bn to new nuclear power station A spokesman for KPMG UK declined to comment on whether Mr Holt would put himself forward for the role.

Mr Holt could not be reached for comment..