ParenteBeard Names Ferro as First President

Jeffrey L. Ferro has been named the first president of Philadelphia-based ParenteBeard (FY11 net revenue of $169.6 million).

Ferro previously served as COO, and Bob Ciaruffoli remains in his role as chairman and CEO.

Ciaruffoli told Public Accounting Report that the move was an organizational one. “We sat back and started looking at the things Jeff started doing a few years ago and found the position has grown. What he does is more reflective of the responsibilities of a president than of a COO.”

Ferro is responsible for day-to-day operations that relate to clients, overseeing accounting, auditing, tax and consulting practices, while Ciaruffoli oversees strategic planning and the Parente Beard affiliates, including ParenteBeard Wealth Management and Vantagen, its HR consulting arm.

“This decision is indicative of Jeff’s extensive knowledge and understanding of ParenteBeard’s operations, clients and the role they play within the accounting profession,” Ciaruffoli said in a statement. The new role was announced at the firm’s partner meeting in June.