AccountingToday this year listed ParenteBeard as the 21st-largest U.S. accounting firm, with $169 million in yearly revenues (the Big 4 - Deloitte, PwC, Ernst & Young, KPMG, each top $5 billion), and the 8th largest based outside New York or Chicago. But the same list showed ParenteBeard was the only one of the top 25 firms where revenues fell last year (by less than 1%), and the one with the biggest decline in total staff, down almost 6% to 978 (at most firms staffing was up).
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"Certainly, we take the issue of corporate culture seriously and since the merger in 2009, we have been attentive to it. What we’ve found as we’ve grown over the past decade is that we’ve been able to attract new and different talent to ParenteBeard – talent that is passionate about working here. And we’ve made an investment in cultivating that talent. In the end, our decisions are driven by what serves our team members and clients best.”
Big reorganizations might be disruptvie for partners or clients, but they aren't necessarily fatal, as BDO's recent growth in Philadelphia after its earlier flubbed merger here shows.