Grant Thornton's revenues hit $2.4B

October 10, 2023

Grant Thornton LLP reported Tuesday it reached a record annual revenue of $2.4 billion for the fiscal year ending July 31, 2023.

The move comes after the Chicago-based firm divested its public sector advisory practice in August 2022 to Guidehouse, a consultancy operated by the private equity fund Verity Capital. When adjusted for the divestiture, Grant Thornton reported its year-over-year revenues grew 11.6% on a pro-forma basis.

"In FY 2023, we trained our focus on strategic appointments and decisions that have provided high-quality results and personalized service to our clients, while also accelerating growth for our firm at a time of unprecedented change in the accounting and consulting industry," said Grant Thornton CEO Seth Siegel in a statement. "By working holistically across our service lines, industry teams and geographic markets, our talented teammates will continue to bring the full strength of our firm to everything we do."

The firm added a number of new members to its senior leadership team over the course of the year. It appointed a chief transformation officer to steer change initiatives, and created a new position of chief strategy officer to accelerate growth. GY hired a national managing partner of geography to help coordinate a go-to-market execution plan in its nearly 50 markets across the country. The firm also named a number of regional heads to align geographic service with industry and service line solutions, along with a new chief people and community officer as well as senior appointments on GT's audit quality and risk team, among others.

[Accounting Today]