Banks Grappling With ECB Exams a Boon for BlackRock, KPMG
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Cleaning up Europe’s banks is proving to be a boon to accountants and consultants.
BlackRock Inc., PriceWaterhouseCoopers and KPMG are some of the firms hired by regulators and banks for the European Central Bank’s review of 3.7 trillion euros ($5.1 trillion) of assets at 128 of the region’s largest lenders. Advisers stand to reap about 400 million euros, based on publicly disclosed costs in Spain, Austria and the Netherlands.