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McLean, Va. (Sept. 27, 2002) -- In a bid to increase its visibility, consulting giant KPMG Consulting Inc. said it would move to the New York Stock Exchange next week.The firm expects to begin trading on the Big Board Oct. 3. To celebrate its NYSE listing, KPMG Consulting chairman and chief executive Rand Blazer will ring the NYSE opening bell that day. The firm's shares have traded under the ticker symbol KCIN on the Nasdaq since the firm went public in February 2001. It will continue to trade on the NASDAQ until its NYSE listing.
In recent months, KPMG Consulting has been broadening its global footprint by acquiring the German, Swiss and Austrian consulting practice of KPMG Consulting AG, and has scooped up Andersen consulting practices and employees in France, Brazil and Peru.
In what appears be a trend among the Big Five consulting spin-offs to distance themselves from their accounting firm roots, KPMG Consulting also plans dump the KPMG name. The former Andersen Consulting ditched the Andersen moniker to become Accenture when it split from the accounting firm in August 2000, and Deloitte Consulting said earlier this year that it would take the name Braxton when it goes private. Prior to its acquisition by IBM, PwC Consulting planned to take on the moniker Monday.
-- Electronic Accountant Newswire staff
