Crowe Global

Crowe Global, commonly referred to as Crowe, previously Crowe Horwath International,[2] is a multinational professional services network. It is the 8th largest such global accounting network in the world.[3] The network consists of more than 220 firms with over 42,000 employees in 130 countries.[4]

Crowe Global
Swiss Verein
IndustryProfessional services
Founded1915 (1915) (Horwath & Horwath)
1960 (1960) (Horwath & Horwath International)
1991 (1991) (merger of Crowe LLP, firm changed name to Crowe Horwath in 2009)
2018 (2018) (Crowe)
FounderFred P. Crowe Sr.
Ernest and Edmund Horwath
Headquarters
New York City
,
United States of America
Area served
Worldwide
Key people
David Mellor, CEO
Services
Revenue US$4.4 billion (2019)[1]
Number of employees
42,000 (2019)
Websitewww.crowe.com/global

Crowe provides audit, tax, consulting, enterprise risk and financial advisory services. In FY 2018, the network earned a record US$4.3 billion in aggregate revenues.

History
Crowe offices at Market Center in San Francisco, United States
Crowe offices in Sydney, Australia at 1 O'Connell Street (right)
Crowe offices at the Scanlan Building in Houston, Texas, United States
Crowe's Singapore offices at 8 Shenton Way, Singapore.

In 1915, Hungarian immigrants Ernest and Edmund Horwath founded Horwath & Horwath in New York.[5][6] The original practice focused on the hospitality industry.[7] The practice later expanded to include accounting, audit and tax offerings.[8]

Crowe Chizek was established in 1942 in South Bend, Indiana, by Fred P. Crowe Sr. and Cletus F. Chizek. Previously, Crowe had worked in public accounting for many years and also served as the St. Joseph County auditor for eight years. Chizek was head of the accounting department at the University of Notre Dame and also worked part-time in public accounting. Following the death of Fred P.Crowe Sr. in 1952, Cletus F. Chizek reorganized the firm as Crowe, Chizek and Company and two firm personnel, M. Mendel Piser and Fred P. Crowe Jr., became partners. The first legal partnership of Crowe Chizek and Company was formulated in 1962 with six founding partners: Cletus F. Chizek, M. Mendel Piser, Fred P. Crowe Jr., Robert W. Green, Joseph A. Bauters and John J. Pairitz.[9]

By 1960, the umbrella organization Horwath & Horwath International Associates (HHIA) was established.[10] In 1989, the organization shortened its name to Horwath International [11] and in 1991 Crowe Chizek became a member of the network.

Horwath International rebranded in April 2009 as Crowe Horwath International and in June 2018, Crowe Horwath sees a further evolution of their brand with a move to the network name 'Crowe' across their independent member firms globally.[3][12][13]

Organization

David Mellor, the current CEO of Crowe Global, succeeded former CEO Kevin McGrath in April 2018.[14] In June 2018, the global network rebranded and changed its name to Crowe. Over 220 member firms across the world are now known under the new single name.

For 100 years, Crowe Global has been making smart decisions for multinational clients working across borders. Ranked the eighth largest accounting network in the world, the network has a total global workforce of more than 36,500 professionals and global revenues in 2017 reached US$3.8 billion.

Member firms are recognized as leaders in their markets with awards and accolades including: Fortune 100 Best Companies to Work For 2018; top five leader for Strategic Risk Consulting by ALM Intelligence; Le Fonti award for 2018 International Tax Firm of the Year; Consultancy Advisory Firm of the Year 2017 at the Finance Monthly Global Awards; Best Audit Firm by The Accounting and Corporate Regulatory Authority of the Singapore Government

The International Accounting Bulletin named Crowe Global Advisory Firm of the Year in 2013.[15] Crowe Global was named Advisory Firm of the Year for the second time in October 2015 by International Accounting Bulletin.[16] In 2018, the combined revenue of Crowe Global's member firms reached $4.3 billion.[17]

Global structure

Crowe has over 200 member firms across the world, with 750 offices.[18]

Australia and New Zealand

Crowe Australasia is the member firm of Crowe which operates in Australia and New Zealand. In 2015, Findex Group acquired Crowe Horwath International's Australia and New Zealand businesses. The member firm has over 110 offices in the two countries.

France

Crowe France operates 22 offices with over 1,000 staff members. The firm has a collective 17,000 clients.[19]

Hong Kong

Crowe Hong Kong is the firm of Crowe Global in Hong Kong. The firm has 30 partners and principals with 350 staff.[20]

Singapore

Crowe Singapore operates as the member firm of Crowe Global in Singapore. The firm is the nations 10th largest accounting and professional services firm, and has operated in Singapore for 15 years. The firm was founded as TKH and Company, changing its name to First Trust Partnership in 2005, before joining the Horwath International global network in 2006. The firm has 26 Partners and Directors with more than 100 staff. The firms current Chief Executive Officer is Tan Kuang Hui.[21]

The United States of America

Crowe LLP operates in the United States as a member firm of Crowe. The member has more than 4,000 personnel across its offices. The current CEO is Jim Powers, with headquarters based in Chicago, Illinois.

The United Kingdom

Crowe UK operates as the member firm for Crowe in the United Kingdom. The firms current chief executive office is Nigel Bostock, who also sits as a member of the board of Crowe Global and succeed Kevin McGrath who retired from the role on 31 March 2018.[22] Within the firm, Bostock is an audit partner in Corporate and Professional Practices Groups.[23] Before the 2018 international rebrand of Crowe, the firm operated as Crowe Clark Whitehill.[24]

See also

References
  1. "Issues in China contribute to stalled growth for Crowe Global". Consultancy Asia. Consultancy Asia. Retrieved 24 June 2020.
  2. "Crowe Horwath International announces name change". Crowe Global. 5 June 2018. Retrieved 5 June 2018.
  3. "Horwath International Takes on the Crowe name". Public Accounting Report. April 15, 2009.
  4. "World Survey". International Accounting Bulletin (557). February 2016.
  5. Gregory Richards (August 5, 2002). "1990: The other big accounting firm meltdown". Philadelphia Business Journal. Retrieved January 1, 2017.
  6. "PTL's Accounting Firm To File For Bankruptcy". News & Record Greensboro. November 19, 1990. Retrieved January 1, 2017.
  7. "A Proposal to the Hotel Industry". The Alarm Clock. December 1, 1925.
  8. "Crowe Horwath International History". Crowe Horwath. Retrieved January 1, 2017.
  9. "AccountingToday". AccountingToday. Archived from the original on 2016-03-04. Retrieved 2015-06-03.
  10. "Financial Adviser and Placing Agent" (PDF). Aseana Properties Limited. Retrieved January 1, 2017.
  11. "Horwath International". Trademarks on Call. Retrieved January 1, 2017.
  12. "Crowe Adds Horwath to Name". Public Accounting Report. September 15, 2008.
  13. "Crowe Chizek gets new name". Accounting Today. October 6, 2008.
  14. Daniel Hood (April 11, 2012). "New Chief Named at Crowe Horwath Int'l". Accounting Today. Retrieved January 1, 2017.
  15. "Crowe Global and Crowe Horwath Global Risk Consulting named IAB Advisory Firm of the Year". Crowe Horwath. March 21, 2013. Retrieved January 1, 2017.
  16. "2015 International Accounting Bulletin awards winners". International Accounting Bulletin. October 2, 2015. Retrieved January 1, 2017.
  17. Michael Cohn (February 5, 2015). "Crowe Global Revenue Grows for Year". Accounting Today. Retrieved January 1, 2017.
  18. "Crowe Horwath Offices". Crowe Horwath. 21 May 2013.
  19. "Crowe France" (PDF) (Press release). France: Crowe France.
  20. "Crowe (HK) CPA Limited" (Press release). Hong Kong: Crowe (HK) CPA Limited.
  21. "Crowe Singapore" (PDF) (Press release). Singapore: Crowe Horwath First Trust (Crowe Singapore).
  22. "New CEO of Crowe Horwath Announced". Money Management. 27 September 2017.
  23. "Nigel Bostock takes the helm at Crowe Clark Whitehill". Consultancy UK. 14 September 2017.
  24. "Crowe Horwath International announces global rebrand of all member firms". Institutional Asset Manager. 11 May 2018.

Further reading

Seglias, Fernando (2006). Caring Sharing Investing Growing - The Story of Horwath International. Horwath International.
Ferst, Stanley D.; Seif, Juan A. (1984). The History of Horwath & Horwath International, 1956-1983. Horwath & Horwath International.

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