Sir Michael Rake, the current chairman of KPMG International, has been named as the next chairman of BT Group.
Having worked at KMPG for 33 years, Sir Michael is considered one of the leading figures in global accountancy. He will leave the Big 4 company in September to take on Sir Christopher Bland's job at BT.
The recently knighted Rake has served as chairman of KMPG International since 2002.
"The opportunities and experiences I have had - together with the people I have met and the lasting friendships I have developed - are all something I will cherish," said Sir Michael.
"I feel that now is the right time for change – and believe I will be leaving KPMG at a time when it is in extremely good shape, has a very strong leadership team and is seeing exceptional growth and performance in key areas of the world."
While serving as the chairman of KPMG International, Sir Michael spearheaded a programme of investment and expansion.
During this time, KPMG's revenues in China have increased fourfold and the revenue of its member firms worldwide grew by 58 per cent.
KPMG International said that it is currently looking for Sir Michael's replacement and that the board would be making an announcement later in the year
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