Krallis, who had spent decades at Deloitte, began discussions with KPMG chief executive Andrew Yates in late 2024. He said he was drawn to the firm’s proactive pivot towards technology-led advisory services and its ongoing efforts to overhaul traditional consulting models.
“KPMG was one of the first firms to respond to changes in the advisory space,” Krallis noted. “Their investment in technology and the way they’re thinking about the future of consulting was second to none in the country.”
The move comes at a time of major internal reform at KPMG. Its advisory division, under the leadership of senior partner Paul Howes, is undergoing a multi-year restructuring plan aimed at streamlining operations and reducing costs. The firm is reported to be trimming its advisory workforce from a peak of around 4,000 to closer to 3,000, as part of a broader $80 million-plus cost-saving initiative.
This strategic revamp includes a shift in delivery methods: by next year, KPMG aims for half of its consulting work to be performed by local advisers, with the remainder handled through a mix of overseas delivery centres and automation technologies. These changes reflect a growing need for efficiency, adaptability, and digitally enabled services in today’s advisory landscape.
Krallis sees significant opportunity in targeting fast-growing mid-sized businesses—organisations increasingly seeking not just compliance and assurance, but support in navigating market shifts and scaling effectively. “They’re looking for a professional services firm that can help them around their growth strategies and adapting to change,” he said.
KPMG’s recalibration is also occurring against the backdrop of broader industry headwinds. Across the big four firms—Deloitte, EY, KPMG, and PwC—the advisory arms have seen declining demand, particularly from government clients. In contrast, more regulated and predictable services like tax and audit have remained relatively stable.
Still, Krallis remains optimistic about the long-term trajectory of the consulting sector, albeit with a different complexion. “The market has changed, and the firms have changed. It will come back—but in different forms. We’ll see different offerings, business models, pricing strategies, and delivery mechanisms,” he said.
Among those changes is an increasing reliance on partnerships with major technology players. The big four have been actively aligning themselves with firms like Microsoft and OpenAI to embed artificial intelligence and cloud solutions into their offerings—underscoring the central role technology now plays in professional services.
With his move to KPMG, Krallis signals not only a personal career shift but a broader industry realignment—one where innovation, client-centricity, and digital fluency are redefining what it means to deliver value in professional consulting.