Dan Tiemann
National Service Group Leader, Transactions & Restructuring
KPMG
Excellence in Client Service
Dan Tiemann's been pretty busy. As the global partner-in-charge of transaction services, and the National Service Group Leader, Transactions & Restructuring for KPMG, he oversees some 5,000 professionals and more than $1 billion in global revenue.
"If you look at our business compared to 2002 and 2003, we were probably up three or four times in 2009, despite a tough M&A environment. In 2008 and 2009, we got back into the restructuring business in a big way as a firm and really started building it."
Although KPMG isn't traditionally known for its restructuring prowess, Tiemann says the marketplace has accepted the brand and the firm is winning plenty of work. "I think in 2009 we did some of our best work in M&A. Last year there was an emphasis on integrating those acquisitions companies had done
previously. We worked really hard in 2009, but I have a feeling 2010 will show it even more."
Tiemann says the practice is on target to grow by double digits in 2010, largely because the firm's increased its services in the transaction space to include offerings in restructuring, business and lender due diligence, corporate finance and infrastructure advisory. Previously, KPMG's Transaction Services group was primarily known for its accounting-based offerings.
"KPMG is really good at helping companies when they are going through a transformational change," Tiemann says. "It sounds cliche, but the challenge is to become that trusted business advisor to our clients. If you're in that role, it serves you whether the market is at the top or the bottom."
Tiemann says that even though the economy hasn't completely recovered, clients realize they have to grow and there's no better time to buy than today. And on the sell side, companies are still trying to repair their balance sheets and sell divisions that aren't core.
Tiemann says he loves solving puzzles, and perhaps, ironically, he says some of his best client work results when nothing happens. "There are plenty of cases where clients were gung-ho to make an acquisition and we found some issue that made them reconsider," he says. "That's the fun part of the job; saving my clients money and headaches."
—Joseph Kornik
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