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Ex-KPMGPartnefsLaunchNewFirm
Unable to resist that entrepre- "\ffe're a couple of young guys believes partnership organizations
neurial itch, more than 20 top who want to take it to the next simply can't move fast enough for
partners in KPMG Peat Marwick's level," says Frank. "A partnership today's market. "You couldn't get
consulting practice left the Big 6 is not the way to build a consult- a thousand partners to agree on
firm earlier this year, went to the ing firm today," he adds. By what the weather is today," he
v e n t u r e c a p i t a l i s t st o r a i s e $ 2 0 building an equity-based firm that says.
million, and launched their own will go public within two years, Services offered by Answer-
firm, AnswerThink Consulting Frank expects to be in a better Think, in Miami, are grouped
Group. The formal debut of the position to make the acquisitions, around the functions of the chief
firm, however, was delayed until attract and retain the hot skills, financial officer, sales and mar-
last Friday when a breach-of-con- and make the joint ventures he keting, and information technolo-
rract suir filed by KPMG was set- and the others believe are neces- gy, including Oracle and People-
tled. sary to be competitive in IT con- Soft implementations,data
Among the top KPMG talent s u l t i n g a n d s y s t e m si n t e g r a t i o n . warehouse technology, year 2000,
that left starting in late January By the end of this month, says E-commerce, Internet, network
a r e T e d F e r n a n d e z ,f o r m e r Frank, the new firm will have 100 and systems integration, and
national managing partner of employees, and through an knowledge management.
KPMG's strategic services prac- a g g r e s s i v ea c q u i s i t i o n p l a n s t o KPMG last February reorga-
t i c e ; U l y s s e sK n o t t s , n a t i o n a l p a r t - gain global presence and skills. nized its consulting services
ner-in-charge of enterprise inte- Frank projects that AnswerThink under a three-person executive
gration services and of sales and will have between 300 and 500 team. The U.S. consulting prac-
marketing; and Allan Frank, professionals within the year, and tice, which has 5,000 profession-
national partner in charge of could become a $500 million firm als, exceeded $900 million in rev-
enabling technologies,and chief within three years. enue last year, sLlrpassingthe
technology officer. Included "They saw a window of oppor- revenue from the firm's audit and
among the other departing execs tunity, a chance to make big accounting operations for the first
were the people responsible for bucks," Roger Siboni, vice chair time. KPMG worldwide across all
KPMG's advanced technology lab at KPMG, recently told "Bow- practice areas has more than
and practicesin finance, year man's Accounting Report," an 54,000people and posted $8.1
2000 and IT infrastructure. and Atlanta newsletter. billion in 1.996revenue.
customer solutions. That mav be. but Frank also - fiv11ss Caldwell

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