Career moves

CALIFORNIA

Thomas R. Smith, one of the country's leading attorneys in the area of mutual funds, has joined the Investment Management Division of the Securities and Exchange Commission as a senior advisor to Andrew Donohue, the division's director. Prior to joining the SEC, Smith was a partner with the New York office of Sidley Austin LLP, and also served as managing partner at Brown & Wood LLP from 1996 until the firm's merger with Sidley Austin five years later.

After resurrecting its Professor in Residence program earlier this year, the Internal Revenue Service has selected Gregg D. Polsky as its 2007-2008 PIR. Polsky recently joined the faculty at Florida State University's College of Law as the Sheila M. McDevitt Professor of Law. He also spent six years on the faculty at the University of Minnesota Law School. Polsky was also in private practice with the firm of White & Case LLP. He succeeds Calvin Johnson, whose term ended May 31. Polsky's term begins in September. Dormant since the late 1980s, the Professor in Residence program provides a forum for legal academicians to contribute and develop legal tax policy and administration. The professor in residence reports to IRS chief counsel Donald Korb.

Richard Caturano, chief executive at Boston-based regional CPA and business advisory firm Vitale Caturano & Co., has been elected CEO of accounting and consulting network Baker Tilly USA, effective immediately. Caturano will continue in his role as CEO of VC&C. Caturano's appointment was announced at the Baker Tilly International North American Regional Conference, here. Formed in 2006, Baker Tilly USA is a network of 23 independent accounting and consulting firms. It is the U.S. affiliate of Baker Tilly International, which represents 126 member firms in 93 countries.

The American Institute of CPAs named Karin Wiberg to the position of director of the Office of Strategy Management. In that role, she will manage the Institute's strategic planning processes and evaluate the organization's performance. Prior to coming aboard the AICPA, Wiberg most recently served as strategic planning director at Principal Financial Group.

The oversight body for the International Accounting Standards Board said that Olivier Servais will serve as team leader for the organization's Extensible Business Reporting Language initiative.The IAS Committee Foundation said that Servais will coordinate all XBRL-related activities by the foundation, working closely with private and public organizations involved in the advancement of online financial reporting, as well as advising users and preparers of internal standards in considering the appropriateness and timing of XBRL adoption.

Taking over the helm of Deloitte Touche Tohmatsu today, chief executive James Quigley and a new leadership team announced their plans to become the largest professional services network within the next two years.Quigley plans to bring a new focus on the Deloitte brand, as well as to build a stronger commitment to the firm’s people. He also wants to strengthen the connection between Deloitte member firms across regions, increase the number of professionals in key markets in Europe and Asia, and showcase the firms’ consulting capabilities as a market differentiator.

Timothy P. Flynn has been elected chairman of KPMG International for a four-year term, effective Oct. 1. He succeeds Sir Michael Rake who is retiring from KPMG and become the next chairman of BT Group Plc.

Glass, Lewis & Co., a major player in the world of investment research and global proxy advisory and voting services, announced that Lynn Turner will leave his post as managing director of research on June 8.

The Public Company Accounting Oversight Board announced that Martin F. Baumann will succeed Phil D. Wedemeyer as director of its Office of Research and Analysis.

The New York State Society of CPAs has installed David A. Lifson as its new president, while the Virginia Society of CPAs has selected Monique T. Valentine as chair of its board of directors for the upcoming year.

Mark Everson, who forged a reputation for bolstering enforcement policies during his four-year tenure as commissioner of the Internal Revenue Service, will need to import that tough posture as the new president and chief executive of the American Red Cross.Everson, 52, was named to helm the disaster relief agency last month. When he officially assumes his new post on May 29, he will be at the helm of an organization that over the past several years has been beset by a series of high-level resignations, messy internal politics and a hail of criticism for its glacial response to Hurricane Katrina.

CCH, a Wolters Kluwer business, announced that Bob Dias has been named vice president of product and segment management.

The Public Company Accounting Oversight Board has named Mary Moore Hamrick as director of its newly established Office of External Relations.The public affairs and government relations offices will now be combined under the single communications department. To head those offices, the board also announced that two new deputy directors have joined the board. Colleen Brennan will head up public affairs activities, while Kent Bonham will oversee government relations.

The Securities and Exchange Commission's Office of the Chief Accountant announced the selection of three academic accounting fellows, who will serve one-year terms beginning this summer.

Sage Software is unveiling a fresh infrastructure that aims to shift its business units more closely to its customers needs, creating two new business divisions as well as a new chief technology officer position.

Four new members have been appointed to the International Financial Reporting Interpretations Committee.The trustees of the International Accounting Standards Committee Foundation, part of the Interational Accouting Standards Board, made the three-year appointments, which will be up in June 2010.

Sage Software was once a one-legged company. Well, that is more or less true in the sense that the overwhelmingly majority of its revenue came from selling product and from the services surrounding them. And however much came from services, product license revenue was still the core.

The Virginia Society of CPAs has named Stephanie R. Peters as its new president and chief executive.

Embattled mortgage financing concern Freddie Mac said Eugene McQuade, its president and chief operating officer, will exit the company September 1. McQuade, a former executive with FleetBoston Financial Corp. joined Freddie Mac in September 2004 following Fleet's acquisition by Bank of America, and was in line to succeed chairman and chief executive Richard Syron. Freddie Mac, and sibling Fannie Mae have been embroiled in mammoth accounting scandals, with both entities having to restate an $11 billion in earnings. A replacement for McQuade has not been named. However, a management succession committee has been established. Meanwhile, the Securities and Exchange Commission began distributing a $357 million Fair Fund created as part of a financial reporting fraud settlement last year with Fannie Mae. Anyone who purchased Fannie Mae common stock between Jan. 14, 1999, and Dec. 22, 2004, or preferred stock between Sept. 25, 2003, and Dec. 22, 2004 is eligible. The distribution is expected to be completed by October. More information is available at www.SECFannieMaeSettlement.com.