Monday, July 6, 2015

12 partners leave Parente Beard, join BDO; up to 97 staff may follow

Bank auditors switch from Philly to national firm

12 partners leave Parente Beard, join BDO; up to 97 staff may follow


It's official: Chicago-based accounting firm BDO USA LLP says "12 partners and as many as 97 employees formerly with the banking practice of ParenteBeard, LLC," the largest accounting firm based in Philadelphia, are joining BDO offices in Philadelphia, New York, Long Island, Wilmington, Woodbridge NJ, and new offices in Harrisburg and Reading, confirming and extending what I reported here and here last month.

Under an agreement between the two firms, 97 support staff who work with the 12 partners may be solicited by BDO to follow the partners to their new firm; or they may choose to stay at ParenteBeard, people at both firms said.

"Through the addition of these professionals, we are adding premier banking sector resources to BDO's existing financial institutions industry practice in the Mid-Atlantic and Northeast regions," said Wayne Berson, CEO of BDO USA in a statement. Combined with other recent East Coast expansion, he added, "this is powerful evidence that our expansion strategy is gaining traction in the marketplace.”

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PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

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