Crowe Firm History
With $670.19 million in revenue for the fiscal year ending
March 31, 2014, Crowe Horwath LLP had a growth rate of 12.2 percent over the
previous year and led the top 10 largest firms in the profession with the
highest reported growth in revenue. The firm and its affiliates have more than
3,000 personnel in 28 offices. Accounting
Today ranked Crowe eighth on its Top 100 Firms list. Chuck Allen currently serves
as the firm’s chief executive officer (CEO). Jim Powers will succeed Allen in the CEO
position on April 1, 2015.
clients worldwide as an independent member of Crowe Horwath International, one
of the largest global accounting networks in the world, consisting of more than
150 independent accounting and advisory services firms in more than 100
countries around the world.
Continuing with its strategy of being a national firm that is globally
branded, Crowe recently added offices in Dallas, Washington, D.C., and Sacramento
and San Francisco, Calif., through a merger with Perry Smith LLP.
In 2014, Crowe
sold its subsidiary Creative Financial Staffing (CFS) to its employees through the establishment of an employee stock ownership
The firm continues its tradition of a strong financial services
practice. Currently, Crowe ranks first nationally in the number of audits performed
for publicly traded financial institutions, according to SNL Financial.
2014, the firm was recognized by Modern
Healthcare as the 11th largest healthcare consulting firm in the
Crowe has been named one of the best places to work
by professional and business associations, human resource organizations and
local and national media. In 2013, Crowe was named a National Best and
Brightest Companies to Work For winner by the National Association for Business
In 2013, Crowe combined resources with CHAN
HEALTHCARE LLC, a 320-employee company based in St. Louis, Mo., creating one of
the largest providers of internal audit and financial advisory services in the
U.S. healthcare industry.
That same year, professionals of ExtOrg, a
Microsoft Dynamics consulting firm specializing in the automotive supplier
industry, joined Crowe. As part of the transition, Crowe also opened a new
entity in New Delhi, India, where many of ExtOrg’s professionals reside, called
Crowe Horwath IT Services Private Limited.
After serving as Crowe’s chief operating officer (COO)
for five years, Kevin McGrath became CEO at Crowe Horwath International,
effective July 1, 2012. This followed the retirement of former Crowe partner
and Crowe Horwath International CEO Frank Arford.
In 2012, Crowe was ranked on the InformationWeek 500 list for the first
time, and made the list again in 2013. This list, compiled by InformationWeek
magazine, recognized the nation's top 500 innovative business teams that have
made notable improvements to how their companies operate through the use of new
technologies and models.
Crowe Horwath Global Risk Consulting
(CHGRC), a global professional services firm assisting multinational companies
with their governance, risk and compliance needs, was established in 2011. In
addition to its presence in the U.S., CHGRC has offices in London, Beijing,
Paris, Toronto, Montreal and Tokyo.
By 2009, Crowe had consolidated revenue of $575.9 million, 2,427 personnel
and 25 offices.
decade, through expansion and mergers, Crowe focused on its strategy of
becoming a national firm that is globally branded, adding offices in Chicago;
Nashville and Knoxville, Tenn.; Livingston, N.J.; Atlanta; Irving, Texas; Los
Angeles and Orange County, Calif.; and New York City.
heavily in innovative solutions during this decade, which included developing the
not-for-profit tax solution Crowe Tax Risk Assessment and Control (C-TRAC),
healthcare solution Crowe Revenue Cycle Analytics (RCA) and the lender risk
assessment solution, Crowe Navigator. The firm also developed a strong
healthcare group and private equity group practice during this time.
In 2009, global
accounting network Horwath International changed its name to Crowe Horwath
International. The new name combined the international awareness of the Horwath
brand with the United States awareness of Crowe Horwath LLP (Crowe), the
network’s largest member firm in the U.S. Ahead of the international name
change, Crowe changed its name in 2008 from Crowe Chizek to strengthen its
alignment with Horwath International.
Chuck Allen was
elected CEO of Crowe in 2007. Former CEO Mark Hildebrand remained with the firm
and stepped into the new role of executive-in-charge of strategic alliances,
while maintaining his role as chair of the board of Horwath International.
Kevin McGrath was appointed Crowe’s new COO. After 35 years with the firm,
former COO Frank Arford retired from Crowe in order to take on a new role as
CEO of Horwath International.
In 2007, Crowe was
first honored as a Microsoft Partner of the Year for the Midwest District and
established membership in Microsoft Business Solutions President’s Club.
Foundation (later rebranded the Crowe Horwath Foundation) was established in
2006 and was designed to coordinate and better focus the firm’s charitable
giving while encouraging and supporting personnel’s volunteer involvement.
By 1999, Crowe had annual revenue of $144.9 million, 1,137 personnel and
Through expansion and mergers in the ‘90s, Crowe offices were
established in Cleveland; Fort Lauderdale and Tampa, Fla., and Louisville and
Mark Hildebrand was elected CEO in 1999, replacing the role of managing
partner. He appointed Frank Arford as COO.
Crowe was named by
Public Accounting Report as one of the
nation’s 10 largest accounting and consulting firms by revenue in 1995. Crowe
has been named to this list each year since.
In 1994, Ronald S. Cohen retired as managing partner of the firm and
James H. Naus was elected managing partner. That same year, Crowe established
the affiliated firm Creative Financial Staffing LLC (CFS). The purpose of CFS
was to build a network of certified public accountant firms trained to deliver
staffing services as representatives of CFS.
Crowe became a
member of Horwath International in 1991, a worldwide organization of accounting
and consulting firms. The affiliation provided the firm with local,
professional experts located worldwide to aid in providing service to clients
with international needs.
By 1989, Crowe had annual revenue of $35.6 million, 427 personnel and seven
M. Mendel Piser, one of the firm’s original founding partners, retired
from his position as managing partner of the firm in 1982 and was succeeded by
Ronald S. Cohen. Under Cohen, the firm decided to practice in major
metropolitan areas. Through expansion and mergers in the ‘80s, Crowe offices
were established in Grand Rapids, Mich., Oak Brook, Ill., and Columbus, Ohio.
By 1979, the firm had annual revenue of $5.6 million, 126 personnel and three
In 1963, the Tax Services group was created. In 1966, a second Crowe office
opened in Elkhart, Ind. That year the Management Advisory Services group was
created, which evolved into what is today Performance Services and Risk
Early years (1942-1959)
Crowe Chizek was
established in South Bend, Ind., in 1942 by Fred P. Crowe Sr. and Cletus F.
Chizek. Previously, Crowe had worked in public accounting for many years and
served as the St. Joseph County auditor. Chizek was head of the accounting
department at the University of Notre Dame and worked part time in public
accounting. When it was first established, the firm had a single office in
death of Crowe in 1952, Chizek reorganized the firm as Crowe, Chizek and
Company and two firm personnel, M. Mendel Piser and Fred P. Crowe Jr., became
partners. In 1962, the first legal partnership of Crowe Chizek and Company was formulated with
six founding partners: Chizek, Piser, Crowe Jr., Robert W. Green, Joseph A.
Bauters and John J. Pairitz. Chizek served as managing partner of the firm
until his retirement in 1972, when he was succeeded by Piser.