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. Jim Powers currently serves as the firm’s chief executive officer (CEO). He succeeded Chuck Allen in the CEO position effective April 1, 2015. Also on April 1, 2015, Joe Santucci was named the firm’s chief operating officer (COO) and Derek Bang was named the firm’s chief strategy and innovation officer.
Crowe serves 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 plan.
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.
In 2014, the firm was recognized by Modern Healthcare as the 11th largest healthcare consulting firm in the country.
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 Resources (NABR).
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 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.
During this 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.
Crowe invested 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.
The Crowe 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 11 offices.
Through expansion and mergers in the ‘90s, Crowe offices were established in Cleveland; Fort Lauderdale and Tampa, Fla., and Louisville and Lexington, Ky.
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 offices.
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 offices.
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 Consulting Services.
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 South Bend.
Following the 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.