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Grant Thornton Announces Promotions

Chicago-based Grant Thornton (FY18 net revenue of $1.87 billion) has admitted 42 new partners and principals, and promoted 39 to managing director.

“Providing our clients with distinctive service, quality results and innovative thinking is what makes Grant Thornton stand out among professional services firms, and we’re proud to count these dynamic new leaders as an important part of our team,” says Bradley Preber, interim CEO of Grant Thornton.

By service line, advisory accounted for the largest number of promotions (43%), followed by tax (28%), audit (25%), and internal client services (4%).

The newly admitted partners are:

  • Danny Allustiarti, audit, San Jose, Calif.
  • Melissa Black, tax, Chicago
  • Eddie Demosthenes, audit, Phoenix
  • Adam Erickson, audit, Minneapolis
  • Bob Forchetti, audit, Philadelphia
  • Laura Frei, audit, Dallas
  • George Geyer, audit, Philadelphia
  • Jeremy Goss, audit, New York
  • Jon Haugeberg, tax, Chicago
  • Hunter Jackson, audit, Charlotte, N.C.
  • Carl Kenyon, tax, Houston
  • Dan Lynes, tax, New York
  • Patrick McAuley, advisory, Charlotte, N.C.
  • Brandan McGaughey, audit, Houston
  • Russell Norris, tax, Charlotte, N.C.
  • Jared Novotny, tax, Minneapolis
  • Shalin Pathak, audit, Chicago
  • Jason Pizza, advisory, Chicago
  • Peter Poulos, tax, Chicago
  • Steven Propester, audit, Oklahoma City
  • Frank Russo, tax, New York
  • Chris Sheehy, audit, Dallas
  • Angie Sosa, tax, Reno, Nev.
  • Bryan Walker, advisory, San Francisco
  • Edward Weaver, tax, Chicago
  • Stacey Whitfield, audit, Columbia, S.C.

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Peko to Lead Grant Thornton’s National Advisory Services Practice

Jim Peko

Jim Peko

Chicago-based Grant Thornton (FY18 net revenue of $1.87 billion) has named Jim Peko as the national MP of its advisory services practice.

Peko succeeds Srikant Sastry, who is credited with transforming the advisory practice into a full-service consultancy that has nearly doubled in size and revenue over the past five years.

Peko most recently served as national MP of the firm’s transaction services practice, where he guided a wide range of clients through a variety of complex transactions. The practice grew 17% annually over the last three years. Peko has served as a member of the firm’s partnership board for the past 20 months. In 2018, Consulting magazine named Peko a “Top 25 Consultant.”

“Jim has built a high-growth practice focused on creating value in a volatile market, and he has done so through innovative leadership and a people-first management style,” says Brad Preber, interim CEO of Grant Thornton. “He takes over a well-positioned advisory practice, and we know Jim will help our clients continue to grow and thrive.”

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Grant Thornton and Ephesoft Form Alliance

Chicago-based Grant Thornton (FY18 net revenue of $1.9 billion) has formed an alliance with Ephesoft, a provider of enterprise content capture and data discovery solutions.

Grant Thornton now offers Ephesoft Smart Capture® solutions to clients so they can manage unstructured data. This helps companies improve invoicing, accounts payable and contract management. It also helps simplify complex tasks, such as taxes and revenue recognition.

“Today’s businesses struggle with reams of documents and large volumes of unstructured data,” says Nick Vellani, advisory practice leader for the Central region at Grant Thornton. “This creates workflow and collaboration nightmares – which is where Ephesoft comes in.”

Ephesoft offers a customizable platform for both cloud and on-premises architectures, allowing companies to streamline their document capture processes across networks, departments and locations.

“Ephesoft’s patented, supervised machine learning technology reduces the overall document processing time by an average of 65% and increases employee productivity by as much as 400%,” said Ike Kavas, founder and CEO of Ephesoft. “Now we can work with Grant Thornton to help more clients in more locations gain control over their documents and unstructured data.”

Grant Thornton has already deployed the Ephesoft platform for several clients, and uses it in-house to improve the tax services it provides to clients.

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Grant Thornton Names Alan Herrmann as West Region Tax Practice Leader

Alan Herrmann

Chicago-based Grant Thornton LLP (FY18 net revenue of $1.9 billion) has named Alan Herrmann as the firm’s West region tax practice leader. In his new role, Herrmann will manage tax operations across Grant Thornton’s 13 West region offices to expand the firm’s presence, collaborate across service lines and develop talent.  “Alan has proven himself to be an impressive tax professional dedicated to creating innovative solutions that best meet the needs of our clients,” says Brian Lucas, national tax operations leader at Grant Thornton. “His business acumen and leadership skills will spur continued growth across the firm’s West region.”

Herrmann joined Grant Thornton in 2002, and has experience in the taxation, planning and structuring of consolidated corporations, partnerships, limited liability companies and S corporations. He works with clients across numerous industries to provide tax planning services and consults on specific tax issues, such as ASC 740, reorganizations, mergers and acquisitions, and accounting methods. He is also actively involved with Grant Thornton’s Washington National Tax Office.

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Grant Thornton Announces Leadership Transition

Chicago-based Grant Thornton LLP (FY18 net revenue of $1.9 billion) announced that CEO Mike McGuire will assume the role of CEO emeritus, effective Aug. 1. In this role, McGuire will serve as a brand ambassador for the firm, focusing on business development and supporting key client relationships. McGuire also will help execute a seamless leadership transition for the firm.

“It has been the honor of my life to lead Grant Thornton over the past five years, and I am so proud of all we’ve accomplished as a team,” says McGuire. “Our firm is on a great path to continue to create value for our clients, build on our leading quality and culture, accelerate innovation and growth, and disrupt our profession.”

Mike McGuire

“As fast as the marketplace is changing,” McGuire continued, “I believe we now need to transition as quickly as possible to new leadership that can take us on the next leg of our journey to become the ‘firm of the future’ over the next five years or more. I will do everything in my power in the coming years to help the firm navigate this transition and continue to succeed.”

Since becoming CEO in 2015, McGuire and his leadership team have steered Grant Thornton to record-setting revenue and driven its audit quality results to the top of the profession, while also investing in the firm’s culture and brand. In addition, under McGuire’s leadership, Grant Thornton has invested in innovative capabilities aimed at transforming the professional services industry in the years to come. The Partnership Board released a statement saying that, “Mike McGuire has taken our firm from the ‘now’ to the ‘next’ and on to the ‘new,’ and we thank him for his vision and leadership.”

The Partnership Board will continue its previously announced long-term CEO succession process that is currently underway with a leading executive consulting firm.

Bradley J. Preber

The firm will be led by Bradley J. Preber who will serve as interim CEO-elect, effective immediately, working closely with McGuire and other members of the senior leadership team until formally accepting the position of interim CEO on Aug. 1. Preber is currently the chairman of the Partnership Board and national managing partner of Business Risk Services for the firm. He also serves as the Phoenix OMP. Preber will temporarily step aside from these roles while he serves as interim CEO. Preber has served in a number of executive roles since joining the firm from another global public accounting firm in 2003.

Preber said, “Mike McGuire has positioned the firm well for future success, and I am prepared to lead our firm forward as our board continues the succession process.”

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Grant Thornton’s Tax Practice Embraces Data Visualization

Chicago-based Grant Thornton (FY17 net revenue of $1.8 billion) has equipped the 1,600 professionals in its tax practice with Microsoft Power BI – a data visualization tool. The firm announced that the move demonstrates Grant Thornton’s commitment to innovative technologies that benefit clients.

Using Power BI, Grant Thornton will be able to aggregate large amounts of data into graphs and charts that tax professionals can instantly understand – helping them go beyond spreadsheets. “Making Microsoft Power BI available to all professionals at every level of the tax practice reflects our belief that data is the future of tax accounting and professional services,” says Jamie Fowler, national MP of tax services.

Applying data visualization tools to tax data makes it easy for anyone to understand a company’s tax position. Moreover, it can yield unexpected business insights. “Because tax information touches almost every aspect of a business from sales to compensation, performing data visualizations as part of a tax engagement often provides revelations that go beyond taxation,” adds Fowler.

Power BI will complement Grant Thornton’s previous deployments of data-visualization software – and also serve as the foundation for new offerings. All Grant Thornton tax professionals are receiving extensive training in Power BI and related efforts.

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Grant Thornton Recognizes Its Rising Stars

Patrick Hughes

Patrick Hughes

Chicago-based Grant Thornton (FY17 net revenue of $1.8 billion) has announced that Patrick Hughes has been promoted to lead corporate development for the firm and Sylvia Cho has been recognized by Consulting magazine as a “Rising Star of the Profession.”

Hughes, based in the firm’s Chicago headquarters, leads the execution of mergers and acquisitions on behalf of Grant Thornton in the United States. Most recently, he led Grant Thornton’s acquisition of life sciences management consultancy TayganPoint Consulting Group, which closed in October 2018.

Sylvia Cho

Sylvia Cho

For the last decade, Hughes has served as a financial advisor to more than 50 public and private clients. Before joining Grant Thornton in 2014, he spent five years at Phoenix Capital Resources, an investment banking boutique. Prior to that, he was an investment banking analyst for Harris Williams & Co.

Cho, transaction services principal in the advisory services practice, received the Rising Star award recognizing the best young talent the profession has to offer – 35 consultants under the age of 35 poised to change the industry, the firm says.

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Grant Thornton Admits Roiz as Partner in Philadelphia

Angelica Roiz

Angelica Roiz

Chicago-based Grant Thornton LLP (FY17 net revenue of $1.8 billion) has admitted Angelica Roiz as a partner in the firm’s Philadelphia office. Roiz serves clients in the not-for-profit and higher education practice, and is part of Grant Thornton’s National Higher Education sector committee.

“Angelica brings her industry acumen and 13 years of experience to our not-for-profit clients in the Philadelphia region,” says Sean Denham, Grant Thornton’s Philadelphia OMP and Atlantic Coast regional MP. “She is deeply committed to serving our not-for-profit clients and engagement teams, and we’re proud to announce her appointment to partner.”

Roiz joined Grant Thornton in 2005 and has served a wide variety of clients in the firm’s not-for-profit and higher education practice. She has directed audits for multiple large clients, including those subject to Uniform Guidance audit requirements and those with complex endowments. Additionally, Roiz serves as the local office champion for Women at Grant Thornton in Philadelphia, and is a member of the National Women at Grant Thornton external relations committee.

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Grant Thornton Appoints Director for Advisory Services

Oliver Dennison

Oliver Dennison

Chicago-based Grant Thornton (FY17 net revenue of $1.75 billion) has announced that Oliver Dennison has joined the firm as a managing director in the financial services advisory practice.

Based in Grant Thornton’s New York office, he will be responsible for global banking clients and driving fintech-enabled business solutions, with a focus on risk and compliance.

Dennison has nearly 20 years of experience as a senior manager and technology consultant, working for financial organizations and multinational corporations in Europe and North America. Most recently, he was a director leading the enterprise risk technology function within Deutsche Bank Americas.

“Having spent his career in financial services, Oliver has witnessed rapid, technology-driven industry change,” says Nigel Smith, national financial services advisory leader. “His experience leading the re-engineering of business processes and catalyzing change through technology is a strong addition to our solutions-focused client approach, especially as fintech continues to transform financial services.”

Before Deutsche Bank, Dennison was director of CFO program services for Credit Suisse and spent nine years at RBS Global Banking & Markets.

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Deltek and Grant Thornton Form Alliance

Software provider Deltek has formed an alliance with Chicago-based Grant Thornton (FY17 net revenue of $1.75 billion).

“The alliance will help both public and private companies of all sizes, including government contractors, to comply with accounting rules, regulations and standards using both technology and expertise,” Grant Thornton announced.

Grant Thornton will provide Deltek’s customers with specialized know-how in systems integration, change management, finance optimization, digital transformation, compliance and business consulting. Deltek clients that service the government can benefit from Grant Thornton’s specialization in government contract compliance – including professional services companies, manufacturers, high-tech services companies and engineering firms.

“Government contractors can now tap into an integrated team that utilizes Deltek’s solutions and applies Grant Thornton’s acumen in transformation, change management and compliance,” says Greg Wallig, OMP of the firm’s Metro D.C.-Arlington, Va., office. “It’s important to have the best solutions and system integrators teamed together to provide clients with the highest-value transformation services.”

Matt Strazza, senior vice president of global sales at Deltek, says, “Grant Thornton understands the unique challenges that government contractors and project-based businesses face when looking to transform their business. As businesses change and grow, they need to adjust their systems and transform to maximize effectiveness. Together, Deltek and Grant Thornton will offer organizations world-class solutions and best practices to solve those issues and maximize the value of their Deltek investments.”

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