KPMG Consulting, the global consultancy, is moving its listing from Nasdaq to the New York Stock Exchange, after 20 months on the exchange.

A spokesman for the firm denied the move was to escape the negative connotations associated with Nasdaq as a tech stock exchange. He said KPMG Consulting had been considering the move for some time, as the company had come through four months of rapid change following the acquisition of Anderson Consulting in Europe.