RSM Names Nedder National Tax Leader

E.J. Nedder

E.J. Nedder

Chicago-based RSM US LLP (FY18 net revenue of $2.1 billion) has announced that E.J. Nedder has been named national tax leader and a member of RSM’s leadership team, effective Sept. 1.

Nedder succeeds Jeff Johannesen who recently accepted a position as RSM’s chief strategy & innovation officer. As national tax leader, Nedder will be responsible for setting and implementing RSM’s tax strategy. He will also serve as a member of RSM’s leadership team, reporting directly to MP and CEO Joe Adams.

During his 15 years as a partner at RSM, Nedder has held various tax leadership roles at the local, regional and national levels. He most recently served as RSM’s national tax consulting leader. Nedder is also the current chairman of the RSM US LLP Board of Directors. He has served two separate terms, and his current term will conclude this fall.

Weaver Announces Industry Group Leadership Changes

Houston-based Weaver (FY18 net revenue of $127.1 million) has reorganized its financial and commercial industry groupings. The leadership changes enable specific teams to better focus on the firm’s primary industry areas: financial services, commercial services, public sector and private client services.

Effective June 1, Brian Reed, PIC of transaction advisory services and private equity services works with both Kevin Sanford, leader of the national financial services industry group and Melvin “Trey” Hunt III, PIC and leader of the commercial services industry group. The following industry leaders work primarily with Sanford in the national financial services industry group: Matt Anderson, PIC, alternative investments; and James Mihills, PIC, financial institutions services.

Working with Hunt, the following leaders will focus on specific industries: Rob Myatt, who now leads energy services; Brad Jay, who has led manufacturing and distribution services, is now also responsible for technology services; Mark Lund, continues to lead construction services; and Colby Horn, promoted to director of real estate and hospitality services.

Public sector services continue under the leadership of PIC Sara Dempsey. Private client services is co-led by Justin Reeves, PIC, North Texas, and Elizabeth Bunk, PIC, South Texas.

“As a significant part of Weaver’s strategy, our industry groups drive the organization because our clients care that we understand their business,” says Sanford. “They count on us to understand the industry regulations they face, the market and labor trends they feel, and the opportunities and threats that exist and drive their strategic decisions.”

Andersen Tax Welcomes Managing Director Rangel to the Houston Office

Abdon Rangel

Abdon Rangel

San Francisco-based Andersen Tax (FY17 net revenue of $247 million) welcomes Abdon Rangel as a managing director in the Houston office, who will join the firm’s commercial practice. Rangel has more than 20 years of experience in all aspects of the oil and gas industry, and specializes in global tax consulting, federal tax planning, and mergers and acquisitions.

Jason Graham, office managing director of the Houston office, says, “Abdon is an important hire as he transitions into our well-established oil and gas practice, given his deep experience working with oil and gas companies. It was crucial to find someone qualified to take the lead over the energy practice that we have successfully built over the years.”

Before joining Andersen Tax, Rangel was the VP of tax and risk management at Linn Energy, previously one of the largest E&P MLP and institutional investment companies. He also has previous experience at KPMG and PwC, where he was a partner.

Andersen Tax CEO and global chairman, Mark Vorsatz, says, “Abdon brings to the firm expertise and leadership as well as experience in tax planning, tax return compliance and working on upstream, midstream and downstream publicly traded companies. He demonstrates our core values of stewardship and providing best-in-class service and I look forward to his future contributions.”

Middle-Market CEOs Remained Optimistic About Business in the Second Quarter, Finds Marcum CEO Survey

CEOs of the nation’s middle-market companies remained solidly optimistic about the general business environment in the second quarter, according to a survey by New York-based Marcum LLP (FY17 net revenue of $469.5 million). However, the percentage of CEOs with a negative outlook more than tripled during the period.

An overwhelming majority of 96.51% of CEOs rated their business outlook neutral to positive in the survey for the second quarter of 2018. This represents a marginal decline from 99.17% in the first quarter. There was a corresponding increase in CEOs expressing a negative outlook on business, which up-ticked to 3.49% in the second quarter, from less than 1% in the prior period.

The survey’s reading on CEO optimism for the second quarter translates to a weighted average of 7.41, down from 7.77 in the first quarter.

“CEOs maintained a highly positive outlook on the business environment for their companies and their industries overall during the second quarter. However, we saw declines in the upper registers of the rating scale, in the 7 to 10 range, which suggests that CEOs were somewhat less positive in the second quarter than in the first. Interestingly, there was also a diversity of opinion among CEOs, even within the same industries, with some assessing their business outlook at the highest rating and others selecting the lowest. This will be something to keep our eyes on in the next two quarters and beyond,” says Jeffrey Weiner, Marcum’s chairman and CEO.

The Marcum CEO Survey is a quarterly gauge of middle-market CEOs’ outlook of the current business environment and their priorities for the next 12 months. It is a companion to Chief Executive Group’s monthly CEO Confidence Index, America’s largest monthly survey of chief executives.

For the complete Marcum CEO Survey for the second quarter of 2018, visit www.marcumllp.com.

MCM CPAs & Advisors Names Next MP

Brad Smith

Brad Smith

Louisville, Ky.-based MCM CPAs & Advisors (FY17 net revenue of $54 million) recently appointed its next MP. Brad Smith, MCM’s current assurance services team leader, will succeed current MP Diane Medley on July 1, 2019. This transition is a part of the Medley’s intended succession plan, aimed at providing a springboard for future leaders and allowing the firm to continue growing and serving clients well into the future.

“This is a testament to the dedication, thoughtfulness and leadership that Brad has shown in his nearly 16 years with the firm, and especially in his stewardship of MCM’s assurance services team,” says Medley. “Under his direction, MCM has a bright future ahead of it.”

Over the course of the next year, Medley and Smith will work together to gradually transition the role across all seven of the firm’s offices in Kentucky, Indiana and Ohio. Following the transition, Medley will remain with MCM full-time in the role of chair, where she will continue to work with select clients and serve in a strategic firm leadership position.

Smith has been with MCM since 2002. His primary focus with clients is middle market growth-oriented companies in the manufacturing, distribution, services and construction industry niches.

“I look forward to working with Diane and our partners as we continue to execute on MCM’s strategic plan,” says Smith. “I want to ensure we’re always building on the strong foundation provided by our firm’s founders.”

Deloitte Board Fails to Re-Nominate CEO Engelbert

Catherine Engelbert

Catherine Engelbert

New York-based Deloitte (FY17 net revenue of $18.6 billion) has told its partners that the first woman to run a Big 4 firm in the U.S., Cathy Engelbert, has not been renominated for a second four-year term, the Wall Street Journal reported June 28.

The Journal reported that the announcement “stunned” Deloitte partners and that it came as a “complete shock.” The newspaper reported, “The rationale wasn’t made clear, and dozens of partners, unhappy the firm didn’t provide an explanation, sent a letter to Deloitte’s board demanding more information and transparency on the matter.”

Deloitte did not comment, saying it will provide an update when the firm has its formal leadership election in early 2019. Engelbert also did not provide the Journal with a comment.

Engelbert, who has been with the company since 1986, was named CEO in 2015. She ran the audit practice prior to becoming CEO.

The Journal, citing anonymous sources, reported that some are concerned that the move signifies a shift in focus toward consulting and away from auditing. One person “familiar with Deloitte’s CEO election process,” told the Journal that the situation “certainly isn’t just normal succession.”

Engelbert possibly could be renominated for a second term at a later phase of Deloitte’s CEO-election process. A candidate recommended by the board must be approved by two-thirds of Deloitte’s voting partners and principals. Her current term ends next spring.

Since Deloitte named Engelbert CEO, KPMG named Lynne Doughtie as chairwoman and CEO in 2015. At Ernst & Young, Kelly Grier became chairwoman and managing partner July 1.

Weaver Announces Tax Services Restructure and Leadership Changes

Houston-based Weaver (FY18 net revenue of $127.1 million) has restructured and expanded its tax services to enhance the firm’s ability to deliver specialized services and greater value to clients. The restructuring also expands the opportunities for employees to develop their leadership and specialized technical skills.

Effective June 1, Weaver’s tax practice includes three groups: business tax services, private client services and investment fund services. Sean Muller is the COO for all tax services. Business tax services is now led by two partners: Clint Siddons, promoted to PIC for the North Texas region; and Robert Henry, promoted to PIC for the South Texas region. For the private client services group, Elizabeth Bunk was promoted to PIC for the South Texas region and Justin Reeves to PIC for the North Texas region. For the investment fund services group, Lisa Head was promoted to PIC of investment fund tax services. Working with Mark Watson, PIC of tax quality and risk management (QRM), are Sam Wren, promoted to the PIC of business tax QRM, and Laura Roman, promoted to a new role as the PIC of tax education.

“Recently, we’ve added several new partners and practices such as our investment fund group,” says Muller. “We have seen a significant increase in value from placing more focus on tax work for private equity and other alternative investment funds, as well as their portfolio companies. Growth in this sector helps us enhance the technical expertise of our team members and provide more insightful service to these niche clients.”

“This opportunity allows us to work with all of our partners and staff to take our tax service line to new heights,” Muller continued. “Together, we will deliver new value to our current and future tax clients. I look forward to what the future holds for the firm and the tax practice.”

The business tax services group focuses on compliance and consulting for public companies; private equity portfolio companies and large companies.

Weaver’s private client services group captures the majority of the firm’s current tax clients, focusing on individuals and small to mid-size businesses. They will provide tax compliance and consulting as well as estate, gift and trust tax services.

Weaver’s investment fund services group focuses on compliance and consulting for hedge funds, venture capital funds and private equity funds.

Herringer Elected President of NYSSCPA

Jan Herringer

Jan Herringer

Jan Herringer, partner at Chicago-based BDO USA LLP (FY18 net revenue of $1.5 billion), began her one-year term as president of the New York State Society of CPAs (NYSSCPA) on June 1.

A member of the NYSSCPA since 2005, one of Herringer’s goals as president will be diversity and inclusion within the profession, expanding the work of the NYSSCPA Diversity and Inclusion Committee, which aims to attract and advance aspiring professionals regardless of race, gender, sexual orientation, religion or disability status. She has been an integral part of the NYSSCPA’s Women’s Initiative for the profession, which will culminate with a Women’s Initiative Conference in January 2019.

Prior to her presidency, Herringer also served as a member of the NYSSCPA Board of Directors and Executive Committee, and as past chair of the Accounting and Auditing Oversight and Auditing Standards committees, and was a member of the Board’s Audit Committee in 2014. Throughout her membership, she served on multiple statewide and chapter committees. Herringer is the current member of the NYSSCPA Legislative Task Force. She also serves as a member of the governing council for the AICPA.

Herringer is currently BDO USA’s National Assurance Group partner, responsible for ensuring firm compliance with all applicable auditing standards through the review, development, and updating of firm methodology and supporting forms and templates, as well as responding to questions from the field on audit-related matters. She actively participates in the standards-setting process through the development of comment letters on auditing and reporting matters. Herringer spent more than 11 years with BDO as part of the firm’s National Assurance practice, focusing on the auditing standards of the Public Company Accounting Oversight Board (PCAOB), the AICPA’s Auditing Standards Board and the International Auditing and Assurance Standards Board.

“Jan’s inclusion initiatives will be crucial in continuing our goal of building a diversified profession that values and attracts the best talent for the future of the profession,” says Joanne Barry, NYSSCPA Executive Director and CEO. “That, coupled with Jan’s respect on a national level in the auditing standards arena, will provide a year of robust representation for the members of the NYSSCPA.”

ConvergenceCoaching Announces Transformational Leadership Program™ Graduates

ConvergenceCoaching LLC announced the 2017-18 Spring Transformational Leadership Program™ (TLP) graduating class.

“Our Spring 2017-2018 program completed on May 30th and we are pleased to congratulate our most recent TLP graduating class,” says Tamera Loerzel, partner at ConvergenceCoaching. “We are honored to have been a part of our graduates’ leadership journey. It is truly our privilege to guide NextGen leaders as they practice new leadership and management techniques and position themselves for future leadership with their firms.”

Congratulations to the graduates of the Spring 2017-2018 program:

  • Marianna Willey, tax senior manager with Bader Martin PS
  • Kevin Majchrowicz, partner with Brock Schechter & Polakoff LLP
  • Laura Clark, tax senior manager with Caler Donten Levine Cohen Porter & Veil PA
  • Breanna Howard, senior manager with Cooper Norman
  • Sharon Cook, senior tax manager with Gelman Rosenberg & Freedman CPAs
  • Walt Derengowski, audit partner with Gelman Rosenberg & Freedman CPAs
  • Ricardo Trujillo, partner with Gelman Rosenberg & Freedman CPAs
  • David Sternberg, partner with Green Hasson Janks
  • Debby Baker, manager with Grimbleby Coleman
  • LeeAnne DeCosta, supervisor with Grimbleby Coleman
  • Kathy Wilson, shareholder with Grove Mueller and Swank PC
  • Chad Pfeiffer, partner with HBE LLP
  • Sarah Langham, senior manager with HoganTaylor LLP
  • Melania Powell, senior manager with HoganTaylor LLP
  • Zach Chalifour, partner with James Moore & Co.
  • Kari Young, senior manager, Jones & Roth PC
  • Ashley Christie, director with Katz Sapper & Miller
  • Chris Baxter, senior manager with Peterson Sullivan LLP
  • Erika Allen, senior manager with Peterson Sullivan LLP
  • Kristi Meier, principal with Presley & Partners
  • Carrie Steffen, president with The Whetstone Group
  • David Schwartz, manager with Wilkin and Guttenplan PC

“Our firm has accessed the TLP to help nine of our future leaders increase their self-awareness and develop new skills. Through TLP, they refine their performance, identify their passions and interests and clarify their pathway with our firm,” says Clive Grimbleby, MP with Grimbleby Coleman CPAs Inc. “We truly appreciate ConvergenceCoaching’s shared faith and values and their personal investment in our leaders’ success.”

The ConvergenceCoaching®, LLC Transformational Leadership Program™ is a one-year accelerated “finishing school” for CPA firm high potentials. “With the rapid pace of succession and leadership transition, part of our mission is to provide truly transformative leadership development so future leaders are ready to take on new and meaningful leadership roles in their firms,” says Jennifer Wilson, co-founder and partner. “Each bright graduating class affirms our enthusiasm about the future of the profession. And we are grateful to have just kicked off our 2018-2019 Spring program with a new group of 26 talented NextGen leaders.

LBMC Names New Leaders

Courtney Bach 

Brentwood, Tenn.-based LBMC (FY17 net revenue of $89.8 million) announced executive leadership appointments to help accommodate company growth in the areas dedicated to serving a variety of health care client needs. The company has named three professionals as new leaders: LBMC Healthcare specialists Courtney Bach and Meredith Douglas as audit and advisory division shareholders and the addition of former KPMG’s health care information security expert, Mark Johnson, to lead the LBMC Healthcare Cyber Security Division.

“I am pleased to congratulate Courtney and Meredith as our newest shareholders and to welcome Mark to our LBMC family,” says Jeff Drummonds, CEO of LBMC. “These exceptional leaders bring nearly 50 years of collective experience and expertise in health care audit and advisory, compliance, risk and information security and join us at a transformational time for our firm. I look forward to seeing them lead the way as we continue to provide solutions for our clients’ expanding needs – both in the near and long term.”

“Courtney, Meredith and Mark are all proven to be leaders in their respective areas of healthcare expertise,” says Greg Eli, Healthcare Practice Leader of LBMC.  “As we continue to focus on expanding our Healthcare Practice nationally, these three specialists will allow us to sustain our significant growth, while maintaining our commitment to client service that has helped make LBMC the firm of choice in Tennessee. These individuals are very deserving of their promotion within our Healthcare Practice.”

Meredith Douglas

Bach has more than 10 years of professional experience in health care audit and advisory services. Over the past 10 years, Bach has directed audit, consulting and due diligence health care engagements for hospitals, behavioral health providers, continuing care retirement communities, independent and assisting living facilities, nursing homes and hospice care organizations.

Douglas began her career with LBMC and has more than 13 years of professional experience in health care audit and advisory services. She manages and oversees teams on audit, review and consulting engagements for all types of health care organizations. Douglas works with a number of hospitals, both for-profit and not-for-profit, behavioral health and long-term care providers, health care technology companies, ambulatory surgery centers and independent physician associations, providing these organizations annual attest services, as well as advising and consulting on complex financial accounting and reporting matters.

Mark Johnson

Johnson has more than 26 years of information security experience providing solutions to commercial companies, non-profit organizations and various United States Federal Government agencies, including the design, development, implementation and administration of information security strategic programs. He is a nationally recognized leader in information security and comes to LBMC from KPMG where he led the national healthcare industry cyber security services.

Johnson joins the nationally acclaimed LBMC Healthcare Information Security division where he will lead the growing healthcare security client needs as they build and maintain security programs that reduce risk, mitigate threats and maintain compliance.