Crowe Global
TypeSwiss 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,
United States of America
Area served
Worldwide
Key people
David Mellor, CEO
Services
RevenueIncrease US$4.4 billion (2019)[1]
Number of employees
42,000 (2019)
Websitewww.croweglobal.com

Crowe Global, commonly referred to as Crowe, previously Crowe Horwath International,[2] is a multinational professional services network. It is the 9th largest global accounting network in the world by revenue.[3] The network consists of more than 220 firms with over 42,000 employees in 130 countries.[4]

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 at Market Center in San Francisco, United States
Crowe offices in Sydney, Australia at 1 O'Connell Street (right)
Crowe offices in Sydney, Australia at 1 O'Connell Street (right)
Crowe offices at the Scanlan Building in Houston, Texas, United States
Crowe offices at the Scanlan Building in Houston, Texas, United States
Crowe's Singapore offices at 8 Shenton Way, Singapore.
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] In 1967, it merged with Laventhol Krekstein Griffith & Co. to become Laventhol & Horwath.

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.[citation needed]

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 2019 reached US4.4 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

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. ^ a b "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. Archived from the original on January 1, 2017. 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.

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.