Monday, 15 May 2017

McLaren puts brakes on KPMG and revs up Deloitte partnership



The technology arm of the McLaren automotive group will this week unveil a commercial partnership with Deloitte, the big four audit firm, that will spell the end of a similar alliance with rival KPMG.

Sky News has learnt that McLaren Applied Technologies (MAT), a subsidiary of McLaren Technology Group, will announce a new venture with Deloitte that will target the delivery of £1bn of annual benefits to the professional services firm's clients by 2022.


The partnership is expected to be launched on Tuesday, according to a person close to McLaren.


Both companies declined to comment on Monday.


The new alliance will seek to develop products based on the technical expertise of MAT's engineering and analytics functions drawn from the McLaren motorsport operations.


McLaren's F1 team is experiencing a torrid period, but hired Zak Brown, a leading industry executive, to help turn around its fortunes, following the acrimonious departure of veteran chief Ron Dennis.


A source close to the talks between McLaren and Deloitte said their new partnership would create scores of jobs focused on devising data-generated products for us in industries such as healthcare, retail and transport.


Its launch will come less than two years after McLaren and KPMG struck a ten-year deal to develop analytics and technology-based projects, with the audit firm also sponsoring McLaren's F1 team.
 
 
One insider said that that relationship had driven by the close ties between Mr Dennis and Simon Collins, the chairman of KPMG's UK operations, who is due to step down from that role this year.


A KPMG spokeswoman told Sky News: "Our alliance with McLaren has been very successful and achieved its objectives.


"Together we have developed predictive analytics tools unmatched anywhere else in the market, which allow KPMG to offer enhanced audit and advisory services to our clients.


"KPMG will now continue the development of these in-house and will be unveiling an additional audit tool later in the year.


"Now that development of these tools has completed, we have taken the mutual decision with McLaren to end our formal alliance.


"We intend to continue to work with McLaren on a range of client engagements across 2017 and beyond."





SKY      News.