Prominent Scottish business advisor Blair Nimmo has been promoted to UK Head of Restructuring at KPMG following the departure of Mark Firmin.

Nimmo was previously head of KPMG’s restructuring practice in Scotland.

KPMG confirmed it had rejected an offer for its restructuring practice.

Simon Collins, UK Chairman of KPMG, said: “Blair Nimmo has a great reputation in the market place.

“Our restructuring practice is market-leading and, despite relatively benign economic conditions in the UK, is securing the most high profile projects, such as the administration of First Oil Expro Limited.

“Unsurprisingly, in uncertain economic conditions, restructuring businesses are attractive prospects to trade and private equity buyers and we have already seen deal activity in the sector.

“We have recently received an offer for our own restructuring practice but have declined this offer as the business is an integral and profitable component of our multi-disciplinary firm.

“I have great confidence in Blair Nimmo’s ability to lead the business to continuing, and greater, success.”

Nimmo said: “The UK economy has been relatively strong in recent years, with suppressed insolvency appointments as a result.

“However, our business has performed well, securing appointments such as Alpari last year, and is in a good position.”

Earlier this week, a Sky News report said three senior partners at KPMG‎ quit the firm after it rejected a takeover offer from rival Alvarez & Marsal (A&M) for part of its advisory business.

Sky News said KPMG’s UK head of advisory Richard Fleming, UK head of restructuring Mark Firmin‎, and corporate turnaround specialist Roger Bayly had resigned to take up roles at A&M.