After the departure of dozens of employees throughout the company, accounting firm ParenteBeard has restructured its Central Pennsylvania operation with a mix of promotions and new hires.
The company announced recently it has hired 18 people and promoted 14 more in the five-office region in an effort to restock its employment base after about 25 employees went to BDO USA LLC in the summer, according to David Capitano, the new Central Pennsylvania region managing partner.
Nearly 100 employees and 12 partners went to BDO in total.
Philadelphia-based ParenteBeard, one of the 25 biggest accounting firms in the country, countered by restocking its employment base and restructuring its management team, in what Capitano called a sign that “we’re here to stay” in the region.
“We’re going to continue to make an impact in the Commonwealth,” he said. “Yes, we lost people. But the people who have come on have recognized this is a great opportunity for them to come along and be essential to the long-term existence of this organization.”
The biggest move was the elevation of Capitano to the region’s managing partner. He had previously been working out of ParenteBeard’s Scranton/Wilkes-Barre office.
One of the new hires at the firm, David Shearer, actually came to ParenteBeard from BDO, where he had been the managing partner of the Charlotte and Raleigh, N.C., offices. He started Sept. 3. Shearer is now an accounting and auditing partner in the York office.
James Jarrett of the Lehigh Valley office and Jacob Kutz in the York office have been named partners in the firm, effective Tuesday.
Two other company partners have been promoted in the region with new roles.
The company also promoted 14 professionals from the Central Pennsylvania region, which includes between 250 and 300 employees, Capitano said. There are 18 new hires in the region who started in September.
When the employees went to BDO, ParenteBeard closed its Harrisburg office. Capitano said there are no immediate plans to open a new Harrisburg office, but the company is always watching out for expansion opportunities.
“We have (more than) a dozen offices strategically placed in the state, where our people live and work and our clients are based in,” Capitano said. “If someone comes to me and says, ‘Dave, I think we’ll be in a better position in Harrisburg to serve our clients and recruit the best talent,’ then it’s something we’d consider.”
ParenteBeard has five office locations in what it terms its Central Pennsylvania region, in Hanover, Lancaster, the Lehigh Valley, Reading and York.