Teneo has acquired KPMG’s restructuring unit in Bermuda, a deal that bolsters its financial advisory operations to more than 350 staffers.
Mike Morrison, who was CEO of KPMG/Bermuda will join Teneo as co-chair of its international financial centers operation.
He has more than 30 years of experience in the restructuring business, especially in the asset management, oil & gas and telecommunications sectors. Morrison also served as Bermuda’s Minister of Finance.
Charles Thresh, former Head of Advisory for KPMG in Bermuda, has also joined Teneo as Head of Financial Advisory, Bermuda.
Daniel Butters, CEO of Teneo’s Financial Advisory business, said the deal follows 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,” said Butters.