KPMG in talks to sell pensions unit to private equity house

The audit and advisory firm said it is proceeding with a "view to progressing a sale" of the circa £200m business, which advises on pension assets worth more than £50bn. The sale comes amid a wider restructuring of the big four auditor after the competition watchdog earlier this year called for a shake-up of operations, with audit and consultancy work due to be split into distinct businesses. KPMG said: "Following significant interest in our market-leading pensions practice, we can confirm we have entered into exclusive talks with Exponent with a view to progressing a sale." The fi...