You’d be smiling too if you were Wayne Berson.
Wow, what a day at Bravo Delta Oscar! Not only did BDO USA announce that supreme leader and ex-cricket player Wayne Berson was re-elected by partners to a third term as CEO, but the firm achieved another record-setting year of revenue, topping out at $1.64 billion for the fiscal year that ended June 30.
Party time. Excellent.
- 2012: $618 million
- 2013: $683 million
- 2014: $833 million
- 2015: $1.05 billion
- 2016: $1.29 billion
- 2017: $1.41 billion
- 2018: $1.47 billion
Of BDO’s three core business lines, advisory blew the other two out of the water, with nearly 40% revenue growth over the past year, according to a press release. The firm’s tax business increased revenue by 8.4%, while assurance went up 4.3% in the last year.
The assurance practice accounts for 46% of the firm’s revenue, while its tax practice represents 33% of total revenue and advisory 21%.
Even though its revenue grew by nearly 12%, BDO still won’t overtake Grant Thornton for sixth place in the U.S. accounting firm revenue rankings. Last year, the Purple Rose of Chicago reported revenue of $1.8 billion, so barring any massive drop in revenue for FY 2019 when its numbers are released in a couple weeks (it is GT, so you never know), BDO will remain in seventh place.
As for Berson, whose new term as CEO ends on June 30, 2024, if he completes his third term, he will be the longest-serving CEO not with the last name of Seidman in the firm’s history.
Berson joined BDO in 2001, and prior to being promoted to the big chair in 2012, he was the Atlantic assurance regional managing partner and chairman of the BDO USA board of directors. He is currently the chair of the global board of directors of BDO International and will serve as vice chair of the governing board of the Center for Audit Quality beginning on Oct. 1.
And he will always have a special place on this site for taking two pies to the face to celebrate money raised for National Red Nose Day.
Even after seven years at the helm, Berson still seems to have the adoration of partners and the current chairman of the BDO USA board:
“Wayne and his leadership team have brought our firm incredible success over the past seven years,” said Bill Eisig, chairman of the board of directors of BDO USA. “His commitment to the values that define BDO and a growth strategy that includes championing innovation, providing exceptional client service and building a world-class workforce has transformed our firm. With his term extension, Wayne will continue to lead BDO forward and ensure we are delivering on our clients’ complex needs and challenges.”
And if you have the love of your partners, what else do you need?