Crowe Firm History
With $745.2 million in revenue for the fiscal year ending
March 31, 2016, Crowe Horwath LLP continues to be ranked the eighth largest
accounting firm in the U.S. The firm and its affiliates have more than 3,380 personnel
in 32 offices. 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
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 200 independent accounting and
advisory services firms in more than 120 countries around the world.
In 2016, the firm expanded to London with the acquisition of
BaxterBruce, an insurance industry risk consulting firm, and established an
office in the Boston area when the personnel of AbleBridge, Inc.,
Crowe also unveiled a new brand platform in 2016: Smart decisions today.
Lasting value tomorrow. The new brand was created based on market research and
an analysis of the firm’s culture, including its management philosophy, core
values and vision, as well as existing client and people engagement feedback.
Crowe has also added offices in Dallas, Grand Cayman, Miami and Washington,
D.C. Offices in Sacramento and San Francisco, California were added when the
people of Perry Smith LLP joined Crowe. Additional offices in Simsbury,
Connecticut, and Burlington, Vermont, were added when the personnel of Saslow,
Lufkin & Buggy joined Crowe.
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 2016, Crowe was ranked seventh on the Fortune 50 Best Workplaces
for Recent College Graduates list and was named one of Fortune’s
100 Best Workplaces for Millennials.
In 2015, the firm was recognized by Modern
Healthcare as the 10th largest healthcare consulting firm in the
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, Crowe sold its subsidiary Creative Financial Staffing (CFS) to its employees through the establishment of an employee stock ownership
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.