Accounting firm Vitale Caturano has changed its name to Caturano and Co. in a bid to distance itself from a scandal-tainted co-founder.
Richard Vitale resigned from the firm last May after he was accused of helping ticket brokers get favorable legislation passed in Massachusetts without registering as a lobbyist (see Vitale Caturano Co-founder Resigns). Vitale also allegedly lent $250,000 to a legislative leader for a mortgage on the politician’s condominium at below-market rates. He was indicted for lobbying and campaign finance violations in December.
The firm’s other co-founder, CEO Richard Caturano, issued a statement explaining the name change as a way to distance the firm from its past.
“Due to the challenges we have experienced over the past year regarding the name of our firm, my 34 partners and I agree that it is time to move forward and focus on what we do best and enjoy most – providing outstanding service to our clients, growing our business and creating opportunities for our people to advance and enjoy rewarding careers,” he said.
“We have all invested heavily in the advancement of our former name and brand,” he added. “Having said that, I recognize that the name and the brand are intangibles, and what really counts are the people and outstanding service and dedication we bring to every client engagement. That has been our hallmark and will not change.”
The two men co-founded the firm in 1978. Today, it serves several thousand companies, providing services in assurance, tax, management and technology consulting, business risk and controls, transactional services, and business valuation.
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