Chicago (Sept. 4, 2003) -- Centerprise Advisors named former top KPMG Consulting executive James B. McGuire as president and chief executive of the national accounting firm consolidator based here.

McGuire, whose appointment is effective immediately, succeeds Rick Stein, who served as interim chief executive when Centerprise founder Bob Basten stepped down after being diagnosed with Lou Gehrig's disease last year. Basten remains Centerprise chairman.

"I think what we can do is redefine the business model," said McGuire. We (Centerprise) came into this with five different firms and five different operating philosophies. We need to integrate that into one umbrella. Beyond that we have a lot of potential opportunity for improvement by either acquisitions or redirecting people to hotter spaces."

Centerprise, 100 firms with annual revenues of $168 million, was formed in 2000 following the merger of Houston-based Mann Frankfort Stein & Lipp and four large regional firms via $250 million infusion of capital from private investors.

Prior to coming aboard Centerprise, McGuire served as executive vice president of BearingPoint -- the new name of KPMG Consulting -- and before that served as chief executive and vice chairman of both the U.S. and global consulting business at KPMG.

"It's a brilliant move," said noted industry consultant Jay Nisberg. "His (McGuire's) appointment lends a certain element of stature and experience. It's Centerprise's statement saying they're ready to flex their muscles."

--Bill Carlino

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