Ed Nusbaum, who has been CEO of Grant Thorntons U.S. member firm, Grant Thornton LLP, since 2001, will become CEO of Grant Thornton International on Jan. 1, 2010.
He succeeds David McDonnell, who is retiring after eight years as CEO of the international firm, which has more than 30,000 partners and staff in over 100 countries.
A successor to Nusbaum at the U.S. firm will be named later in 2009.
It will be a much more global assignment, Nusbaum told WebCPA. Itwill require traveling all over. Ill be splitting my time between ourheadquarters in London and Chicago.
Under Nusbaums leadership, the U.S. member firm tripled in size, with annual revenues growing from $400 million to $1.2 billion. For the past two years, U.S. accounting professors have named it the top U.S. accounting firm for ethics and work/life balance.
Before becoming CEO of the U.S. firm, Nusbaum served as national managing partner of professional services, managing partner of the Philadelphia office and national director of assurance services.
With his new job, he plans to expand the firm further into other parts of the world, especially emerging markets.
We have a large practice in China, but theres an opportunity to grow it even further, he said. In Eastern Europe and other countries, there are opportunities for significant growth. Weve had some tremendous success if you take Brazil, India, and China, and well continue to make investments in the member firms in those markets. Like everybody we feel the effects of the economy throughout the world, but the opportunities are immense, particularly on a long-term basis.
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