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Barclays Names KPMG Auditor, Replacing PwC After a Century

Barclays Plc named KPMG its new auditor, ending a 119-year relationship with PricewaterhouseCoopers LLP amid a British regulatory investigation into the reporting of the bank’s accounts.

KPMG will take over in 2017 after winning a bidding process started in March last year, according to a statement from the London-based bank on Friday. In December, the U.K.’s Financial Reporting Council started a probe into PwC’s role in reporting on Barclays Bank Plc’s compliance with regulators’ client asset rules.