The American Institute of CPAs has elected McGladrey partner Richard Caturano as its new chairman.
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In his acceptance speech at the AICPA’s Fall Meeting of Council in Amelia Island, Fla., on Tuesday, Caturano described his path from a blue-collar upbringing in Massachusetts to the highest rungs of the accounting profession. One of his chief priorities as chairman, he said, is to promote broader diversity among CPAs, particularly at the leadership level, so that others can benefit from the same rewarding career opportunities.
“We have to maximize our talent pool by making sure everyone in America - regardless of background, race, gender, religion or anything else - is aware of the rewards and possibilities of the accounting profession,” said Caturano. “In our complex, information-driven, 24/7 world, we must be sure to get the best and brightest, regardless of their backgrounds.”
Caturano was elected to the one-year volunteer post this morning by AICPA’s Council, which wraps up its annual fall meeting Tuesday. William Balhoff, managing director and CEO for Postlethwaite & Netterville in Baton Rouge, La., was voted in as vice chair.
Throughout his career, Caturano has specialized in serving middle-market companies, and he cited the thousands of jobs created by clients as a point of professional pride. He was a founding member of Vitale, Caturano and Company, which built deep expertise in the high-tech, biotech, manufacturing and professional services sectors. By the time it merged with McGladrey in 2010, it had grown into New England’s largest full-service, regional accounting firm and was widely recognized for enlightened employment practices. Caturano is currently executive managing partner of McGladrey's Boston office.
“We built a culture in the firm that embraced change,” Caturano said. “I’ve always believed that’s what CPAs do.”
Besides promoting diversity, Caturano said the accounting profession must continue to be nimble in its response to globalization, cyber-security concerns, the need to create a better financial reporting framework for private companies, and making the profession more attractive to the best and brightest of the new generation, among other issues.
“Rich’s leadership has contributed greatly to McGladrey since July 2010 when we acquired Caturano & Company, a firm that he co-founded,” said McGladrey managing partner and CEO Joe Adams. “Under Rich’s leadership, Caturano & Company experienced unprecedented growth as he led the team in their efforts to understand clients’ needs and to exceed their expectations. On top of his commitment to clients, Rich has been deeply involved in enhancing the accounting profession throughout his career. McGladrey is so proud that he has been chosen for this important leadership role with the AICPA.”
Caturano served as vice chairman of the AICPA for the past year, and was a member of the organization’s board from 2009-2011 and its governing Council from 2006-2008. He was president of the Massachusetts Society of CPAs from 2005-2006. Among other honors, Caturano routinely appears on Accounting Today’s Top 100 list of most influential people in the profession.
He graduated with a B.S. in Accounting and an M.S. in Taxation from Bentley University, and is also a graduate of Harvard Business School’s Leading Professional Service Firms executive education program.
Among other hobbies, Caturano rides a Harley-Davidson Road King motorcycle to unwind and enjoys cooking. In fact, he owns two wood-burning pizza ovens – one in his outdoor dining area and a mobile version that he tows to tailgating events during home games of the New England Patriots.
Caturano and his wife, Barbara, have two children, Christina and Anthony and a grandson, Rhys Richard Ryan. He lives in Gloucester, Mass.