William Barclay Peat
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Sir William Barclay Peat (1852 - 1923) was the Scottish-born second son of James Peat and Margaret Barclay (of the banking family that built Barclays Bank, one of England's largest). Born of privilege, Peat studied law at the prestigious Montrose Academy in Scotland, but he did not enter the legal profession.
Instead, the eager 17-year-old moved to London in 1870 to seek his fortune. He was hired as a junior accounting clerk for a London firm and quickly rose through the ranks, earning partnership at the age of 24.
In 1891, Peat assumed leadership of the firm, renamed it William Barclay Peat & Company, and ignited an accounting legacy that has endured until today.
"The Peat family kept the partnership going with a requirement that the senior partner needed to be a Peat for at least three generations," says Roger White, a retired KPMG partner and unofficial organization historian who wrote the book Peats to KPMG - Gracious Family to Global Firm, which was published in 2004 in the United Kingdom. The Peat name lives on today in the world of accounting.
Sir William Peat's great-grandson, Michael, worked for KPMG for five years and now serves as one of Prince Charles' most trusted aides. Sir Michael Peat is an Eton- and Oxford-educated accountant who has been lauded for his tough financial stance at Buckingham Palace and as Keeper of the Privy Purse and Treasurer to the Queen.
