KPMG moving into 'portfolio solutions'

Accountancy firm KPMG is gearing up for an expected sale of loan portfolios by UK banks and financial institutions.

It has appointed a global team of eight to take on the work as banks offload non-core and non-performing loan books to concentrate on their core businesses.

Scottish chartered accountant Graham Martin will jointly head the new "portfolio solutions group". He said: "With such a high concentration of banks and financial services in Scotland and the UK, I expect to see high demand and some major deals in the near future."