KMPG has named John Veihmeyer as the new chief executive office (CEO) of its US firm.
Current CEO Timothy Flynn is to assume the role of chairman of KPMG International's newly-formed global executive team, although he will continue to be chairman of both KPMG LLP and KPMG International.
The move means Mr Veihmeyer will now oversee the day-to-day operations of the company in the US.
He has been deputy chairman of KPMG LLP since 2005 and chairman of the Americas region for the international firm since 2007.
In a statement, Mr Veihmeyer said: "I'm privileged to be assuming these increased responsibilities as Tim and I continue to lead the U.S. firm together."
He added the current economic situation had presented the firm with a "unique opportunity" to assist clients with complex financial requirements and said KPMG would continue to focus on building its reputation of professionalism.
The Independent reported last week that KPMG has hired a large number of specialist forensic investigators to cope with increased levels of corporate fraud.
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