ParenteBeard takes over Baltimore firm

ParenteBeard LLC, the largest accounting firm based in Philadelphia, says Raymound Peroutka, former managing director and chief executive at Baltimore-based accounting firm Invotex Group, has joined ParenteBeard witht hree other partners and 22 additional staff.

Nine-year-old Invotex had a Washington branch office. ParenteBeard has over 1,000 professionals and is an independent member of the Baker Tilly International accounting network.

ParenteBeard lost a string of partners last year after consolidations. When I asked Bob Ciaruffoli, the firm's chairman-CEO and architect of both its expansion and its move to Philadelphia (from Wilkes-Barre), he said this is what happens when you do mergers. He's kept growing.