Big 5 Executives Transition to E-Business Companies
CPAs have always been at the top of the list of advisors in providing value-added knowledge. The commercial marketplace is becoming more and more enamored with moving the best CPAs from their role as advisor to the role of hands-on partner.
AccountingWeb ran several stories last year about high-profile changes at Big 5 firms in which executives have left their firms in favor of Internet start-ups and related ventures that pose immense challenges.
The lucrative e-business market has drawn executives from all industries, as in the case of the new Miami-based consulting firm known as "Adjoined." The co-founder and president, Bill Donlan, has worked for more than a decade in systems integration with Andersen Consulting and PricewaterhouseCoopers. Adjoined's chair, Tom Richardson, also has worked in the accounting field with Arthur Andersen's Management Consulting Services Division.
The CPA mentality also brings along with it significant funding opportunities for investments with these start-ups. Richardson was appointed chair after his own company, Entente Investment, began backing Adjoined. In addition, Bill Pruitt, a co-founder of Entente and a former managing partner of Arthur Andersen in Florida, serves on the new company's board of directors.