One of Scotland’s best-known business advisory experts, Blair Nimmo, has been promoted to KPMG’s UK head of restructuring, having previously overseen this part of the business north of the Border.
Nimmo, who has worked with firms including Hawick Knitwear, Ferguson Shipbuilders and Dunfermline Building Society, succeeds Mark Firmin, who is leaving KPMG.
Simon Collins, the firm’s UK chairman, said: “Our restructuring practice is market-leading and, despite relatively benign economic conditions, is securing the most high-profile projects, such as the administration of First Oil Expro.”
Collins added: “In uncertain economic conditions, restructuring businesses are attractive prospects to trade and private equity buyers and we have already seen deal activity. We have recently received an offer for our own restructuring practice but have declined this offer as the business is an integral and profitable component of our multi-disciplinary firm. I have great confidence in Blair Nimmo’s ability to lead the business to continuing, and greater, success.”
Nimmo said: “The UK economy has been relatively strong in recent years, with suppressed insolvency appointments as a result. However, our business has performed well, securing appointments such as Alpari last year, and is in a good position.”
In January he said there was a 4 per cent drop last year in the number of corporate insolvencies in Scotland, “which, in general, is a positive sign for businesses and the Scottish economy”.