Archives for April 2019

David Hartley Joins Anders as Partner to Expand Advisory Services

David Hartley

David Hartley

St. Louis-based Anders CPAs + Advisors (FY17 net revenue of $31.8 million) has admitted David Hartley as a partner to lead growth of the advisory services practice.

Hartley has more than 25 years of experience in C-suite leadership roles and consulting with privately held businesses on technology strategy and enterprise risk services.

Prior to joining Anders, Hartley was a principal at a Top 100 accounting firm, working with closely held, private and middle-market businesses on technology audits and enhancements. Named the 2018 Outstanding Visionary by the Missouri Society of CPAs, Hartley also served as CIO at a publicly traded coal producer, where he was responsible for overseeing the company’s technology, including strategy, applications development, infrastructure and cybersecurity. Hartley is a frequent speaker and writer.

“Anders already has a strong reputation for delivering high-impact services to clients, with all the right ingredients in place for continued growth,” explains Hartley. “I’m excited to join as a catalyst to accelerate the firm’s growth in high value advisory services. Today’s middle market companies navigate a myriad of opportunities and challenges and need valuable advisors to bring expertise and wisdom along the way.”

MP Robert Minkler says Hartley’s hiring marks a new focus on non-traditional accounting services. “We believe this is where the profession is heading, and it is an opportunity to provide additional value to our clients and to grow the firm purposefully.” With technology driving change in the accounting industry, the firm believes bringing in Hartley is a natural step in developing the firm of the future.

Anders advises clients in areas of technology, outsourced accounting, banking, fraud, valuation, litigation, business transition planning, cybersecurity and data analytics, among others.

More news from Anders CPAs + Advisors

Women C-Suite Ranks Increase, but Not Much

More women are holding the nation’s most important corporate roles, just not that many more, according to a survey by Korn Ferry, a global consulting firm and executive recruiter.

Women now hold 25% of the five critical C-suite positions. That’s an increase from 23% in 2018, according to the analysis of the nation’s 1,000 largest corporations across eight industries – consumer, energy, financials, health care, industrial, retail, services and technology. Still, women hold a majority of only one of those spots, chief human resources officer, and only 6% of CEO spots are held by women, unchanged from 2018.

“In every industry we analyzed, there’s a tremendous need for improvement to bring more women to the C-suite,” says Jane Stevenson, global leader of Korn Ferry’s CEO Succession Services. The onus is on both women to seek out experiences that can help them lead and organizations to create an environment where women can succeed, she says.

The Korn Ferry analysis reviewed the positions of chief executive officer, chief financial officer, chief information/technology officer, chief marketing officer (CMO), and chief human resources officer (CHRO). Among the eight industries, retail has the highest percentage of female CEOs (12%). In contrast, healthcare has the fewest, at 1%.

Women hold 55% of the CHRO spots across industries. The CMO role saw the biggest percentage increase of all C-suite roles, rising to 36% from 32% in 2018. The financial industry has the highest percentage of female CMOs at 53%, up from 45% last year.

About 45% of employees at the nation’s largest firms are women, according to various studies. But female representation diminishes considerably up the leadership ladder. It’s hard to pinpoint exactly how gender influences hiring and promotion, but companies must commit to developing a pipeline of women leaders, experts say. “It’s critical that both talented women and those around them focus on creating a clear path for advancement,” Stevenson says.

EY Names New Chicago OMP

Jud Snyder

Jud Snyder

Big 4 firm EY has named Jud Snyder managing partner of its Chicago office, replacing Kim Simios on July 1.

This transition is part of a planned rotation succession, the firm announced.

As OMP in Chicago, Snyder will support a team of approximately 3,500 professionals across the assurance, tax, transaction and advisory service lines. Snyder will be “responsible for developing and engaging EY’s people, creating high-performing teams, driving market leadership and amplifying the EY brand through strong engagement in the Chicago market,” according to a statement from the firm.

Snyder most recently served as deputy assurance MP in the central region. He was responsible for performing quality audits, driving growth, managing resources and developing 1,800 staff across the regional assurance practice that spans 17 offices and 15 states. Prior to that role, he served as the COO for EY in South America, based in São Paulo, Brazil. While there, he worked with the organizing committee of the Rio 2016 Olympic Games.

RSM Opens Technology Experience Center

Chicago-based RSM (FY18 net revenue of $2.14 billion) announces the opening of its RSM Technology Experience Center (TEC).

RSM says it is the first of many “client experience centers” it plans to open to support its commitment to collaborative innovation for the middle market.

The RSM Technology Experience Center, based in Denver, provides opportunities for clients to work with leading RSM consultants to envision how technology can reshape their businesses. The center offers more than 30 customer immersion experiences. RSM advisors will help clients explore various business scenarios such as “efficiently addressing margin concerns, analyzing complex data, keeping data and information secure and identifying sales opportunities to demonstrate how available solutions can address potential challenges,” the firm says.

Because markets and business models vary, the RSM Technology Experience Center offers detailed depictions of the workplaces and technologies associated with various industries.

“The RSM Technology Experience Center empowers current and prospective clients to plan their digital transformation,” says Brian Becker, a national consulting leader with RSM. “Using the latest in technology, we’ve created a ‘touch it, feel it, see it’ experience for our clients to help them fully understand the power of technology supported by insights from RSM professionals. And the experience can be customized by industry – from consumer products to financial services, the RSM Technology Experience Center uses artificial intelligence and augmented reality to help clients visualize their new realities to prepare for an increasingly dynamic future.”

More news from RSM

BKD Announces 23 New Partners, Managing Directors

Springfield, Mo.-based BKD (FY18 net revenue of $594.6 million) has announced that 12 professionals have been admitted to the partnership effective June 1. In addition, 11 were promoted to managing director.

CEO Ted Dickman says, “While their respective transitions will bring new challenges, these seasoned professionals are well-prepared to take on the responsibility. We take great pride in shining a spotlight on outstanding individuals and their achievements.”


  • Scott Bormet, Transaction Services
  • Tim Eischeid, Chicago
  • Amy Frizzell, Wealth Advisors
  • John Griffin, Dallas
  • Jenifer Hitschmann, Wichita, Kan.
  • Justin Kensinger, Springfield
  • Matt Klauser, Transaction Services
  • Kieth McGovern, Kansas City, Mo.
  • Jennifer Sanders, Louisville, Ky.
  • Nate Scott, Omaha, Neb.
  • JoAnna Simek, Chicago
  • Chris Woosley, Louisville, Ky.

Managing Director

  • Brian Bell, HCPAS
  • Jeff Bodkin, Indianapolis
  • Heather Broyles, Wealth Advisors
  • Christie Clements, Enterprise Risk Solutions
  • Nicole Fishback, Indianapolis
  • Glenn Grigsby, Louisville, Ky.
  • Jason Jobgen, Cost Segregation Services
  • Troy Lindsey, St. Louis
  • Mike Summers, Indianapolis
  • Allen Wong, Houston
  • Tomi Yoshitomi, Indianapolis

More news from BKD LLP

Brady Ware Dealership Advisors Announces New Business Model, Merger

After more than 30 years as both a local auto dealership CFO and auto industry CPA in Columbus, Ohio, Sean McCarthy has joined Brady Ware Dealership Advisors as a director and merged his practice into the firm.

Dayton, Ohio-based Brady Ware & Company also announced that Brady Ware Dealership Advisors has launched a new business model that offers comprehensive consulting services to its 90-plus auto dealership clients throughout the Midwest and the Southeast.

Sean McCarthy

Sean McCarthy

“Sean is more than a CPA,” says Brady Ware Director Sam Agresti. “He is an industry expert in buy/sell transactions and will provide true CFO-level services to our clients.

McCarthy says, “I started working in the auto industry in 1989 and I’ve seen my clients through a number of industry changes, navigating through everything from a massive recession to swings in buying trends and the evolution of car buying in a digital world. The model that Brady Ware has created to evolve the services CPAs can offer to their clients is a game changer for financial consultants. I now have a tool kit of solutions for dealerships that strategically address inefficiencies impacting their bottom line, and the resources to fix them.”

Brady Ware Dealership Advisors now offers comprehensive consulting services designed to focus on being more tax efficient, safeguarding dealership assets and helping dealerships with succession. Dealerships can choose from 20 different services designed to improve processes and procedures in different departments. Some of the new services focus on fixed and variable operations enhancement, fraud and safeguarding assets, employee placement services, warranty reimbursement and digital marketing.

Digital marketing and advertising, for instance, is one of the largest monthly expenditures apart from labor but ROI is difficult to measure for many dealerships. “The way people buy cars is very different today than it was 10 years ago,” says Justin Ward, digital marketing consultant. “By the time a person hits the lot, they’ve done their research, picked out their car, and are likely just coming in to pick it up.” Dealerships don’t have a full understanding of what their dollars are buying and how that translates to ROI, he says. “That’s where we come in.”

McCarthy says, “You can’t manage what you can’t measure. This team allows us to measure every aspect of the dealership business and create solutions that help them fill a need, grow their operation and best position them for the future.”

Brady Ware has offices in Ohio, Indiana and Georgia.

More news from Brady Ware

RKL Wealth Management’s Stephanie Etter Promoted to Chief Compliance Officer

Stephanie J. Etter

Stephanie J. Etter

RKL Wealth Management LLC, a subsidiary of Lancaster, Pa.-based RKL LLP (FY17 net revenue of $67.9 million), announced that Stephanie J. Etter has been promoted to chief compliance officer.

In her new role, Etter is responsible for developing and monitoring the firm’s compliance program, ensuring that all activities of the firm meet regulatory requirements and acting as a liaison with legal and regulatory bodies on compliance-related issues.

“We congratulate Stephanie on her promotion to this significant leadership role for our firm. Her years of experience in operations working in conjunction with our compliance professionals combined with her dedication to client service excellence make her a natural choice for this new role,” says president Laurie Peer.

Etter most recently served as the firm’s operations manager and served as a liaison between the operations team and top management while establishing and implementing processes and procedures. Prior to joining the firm, she spent 16 years in the wealth management industry.

More news from RKL LLP

Friedman Headquarters Moving in May

New York-based Friedman LLP (FY17 net revenue of $101.5 million) is relocating its New York office from 1700 Broadway to One Liberty Plaza at 165 Broadway on May 6.

“We are proud soon-to-be residents of Lower Manhattan – home to innovative tech startups and longstanding firms in a vibrant neighborhood where people come to work, live and visit,” the firm announced.

Friedman has five offices in New Jersey, and is also located in Long Island, N.Y., Philadelphia, Beijing and Shanghai and has been serving offering accounting, tax and consulting services since 1924.

More news from Friedman

Citrin Cooperman Expands Health Care Practice

Josh Berlin

Josh Berlin

New York-based Citrin Cooperman (FY17 net revenue of $244 million) announces that it has expanded its health care practice with the hiring of Josh Berlin and Heather Spillman, who have joined as principals. Berlin will lead the practice with Aaron Cohen, John Bryan and Michael Criscione.

Both Berlin and Spillman served as MP and associate partner, respectively, in the Watson Health division of IBM.

Cohen says, “Their breadth and depth of management consulting experience within the health care industry really allows us to grow the services we provide to our clients substantially.”

Citrin Cooperman’s Healthcare Practice provides services to over 350 health care organizations nationwide, focused on providers of all types, payors across the industry, and employers driving health care change. The group advises organizations on various programs, critical transactions and finance initiatives, and business execution.

“Health care is a uniquely complex industry, with rapid advancements in technology, continued changes in policy, and new, non-traditional partnerships emerging constantly,” Berlin says. “We joined Citrin Cooperman to bring the breadth and depth of our cross-industry expertise to complement a team of health care advisors embracing the agility and strategic thinking required to remain competitive as the industry quickly evolves.”

Berlin brings more than 20 years of experience advising health care organizations – including providers, payors, employers, governments, non-profits and advocacy – as a strategist, expert and advisor, depending on the client need and situation. In his career, Berlin has served as a leader at BearingPoint, KPMG, Dixon Hughes Goodman and IBM, also bringing a background in law to his role.

Heather Spillman

Heather Spillman

Spillman says, “The wave of consolidation and change in the health care space has materially altered the industry landscape. Health care organizations small and large will need to be strategic in their relationships and proactive in keeping up with innovation, and I’m looking forward to working with these organizations, leveraging the tremendous insight and resources the team here has to offer.”

Spillman advises various clients in the health care industry, including payors, providers, and employer clients across strategy, clinical and technical teams. She has experience providing health care clients with various services including strategic planning, network optimization, population health strategy, care management strategy, analytics strategy, and M&A strategy. Spillman also brings experience from BearingPoint, Deloitte, KPMG, Dixon Hughes Goodman and IBM.

More news from Citrin Cooperman

BDO’s Merger, Growth into Biopharmaceuticals Explained

In light of BDO’s recent acquisition of BioProcess Technology Consultants (BPTC), INSIDE Public Accounting asked leaders from both firms to discuss further expansion within the life sciences industry, growth strategies and how the merger will help clients.

BPTC is a chemistry, manufacturing and controls consulting service. Chicago-based BDO (FY18 net revenue of $1.46 billion) sees the merger as expanding its existing services in developing new biopharmaceutical products while minimizing risk.

IPA spoke with Eric Jia-Sobota, national leader of BDO’s Industry Specialty Services and Life Sciences practices, and Howard Levine, Ph.D., managing director and national leader of the Bioprocess Technology Group within BDO’s Life Sciences practice.

IPA: It’s starting to become more common for accounting and advisory firms to acquire consulting firms, but often they’re related to technology, such as cybersecurity. Acquiring a consultancy related to the biopharmaceutical industry is unusual. Why the interest?

Jia-Sobota: Our clients frequently look to leverage the industry experience and client-specific insights our collective team has, including in the life sciences realm. The life sciences industry is an important vertical for BDO – especially as technology’s infiltration of the space continues to create both new opportunities and mirroring risks.

For instance, while breakthroughs in CAR-T and other cell gene therapies have huge potential, biopharmaceutical manufacturers can’t neglect investment in their manufacturing processes as demand for biopharmaceuticals continues to rise. While it may be tempting to invest in new facilities to alleviate production capacity shortages, in the long term, companies must invest in new technologies and methods for bioprocessing.

Biopharmaceutical manufacturers need to develop cost-effective methods for scaling their operations, or else lose a competitive edge to those whose investments in technology and new processes make their therapies more affordable. The addition of BPTC enhances our ability to help biopharmaceutical manufacturers meet these evolving demands and de-risk product development while at the same time capitalizing on new, tech-enabled opportunities to further improve patient outcomes.

IPA: What was so attractive about BioProcess Technology Consultants that made BDO pull the trigger on an acquisition?

Jia-Sobota: BDO and BPTC’s technical and operational services to life sciences entities are complementary, with a focus on helping organizations navigate risk, make informed investment decisions and seize new opportunities. The addition of BPTC supports the continued growth and diversification of life sciences capabilities at BDO.

IPA: How will this acquisition help BDO clients? Can you give me an example?

Levine: The addition of BPTC enhances BDO’s ability to advise clients on technical, strategic and regulatory aspects of biopharmaceutical development at all stages in the product lifecycle. For instance, there is growing concern within the biopharma sector that current processes and facilities may not have capacity to meet rising global demand for high-volume biologics. Through the addition of BPTC, BDO can further assist companies in implementing process intensification practices that can help bridge the gap between supply and demand, while also improving process efficiency and even product quality.

IPA: BPTC founder Howard L. Levine is quoted as saying his firm helped companies address “unmet medical needs and increase patient access to novel medicines.” How so?

Levine: While emerging technologies and innovations – like CAR-T therapies and others – show promise for treating formerly intractable diseases or injuries, rising costs limit their accessibility for patients. The professionals from BPTC who have joined BDO will complement our ability to help clients ensure the long-term success of therapies by helping them improve their cost-effectiveness while maintaining or improving efficacy. This may include developing and implementing process intensification strategies – such as continuous bioprocessing.

IPA: How does this acquisition fit into BDO’s growth strategy?

Jia-Sobota: The addition of BPTC aligns with recent investments BDO has made in innovation across the firm – including added resources in technology solutions, digital transformation, risk advisory and data privacy. These additions position us well for continued growth in the coming years and align with our commitment to offering our clients a comprehensive suite of services across both industry agnostic – and specific – business imperatives.

IPA: What can clients expect in the future in terms of additional acquisitions like this one?

Jia-Sobota: As part of our commitment to client service, we are continuing to make investments in innovation that can bolster the support we provide clients across industries.