Grant Thornton CEO steps down

Top 10 Firm Grant Thornton announced that its CEO, Seth Siegel, is stepping down from his position after 30 years with the firm, though he will still remain involved as a senior advisor.

“I have called Grant Thornton home for almost three decades and am proud to have been part of this amazing team and organization, which has solidified its standing as the destination of choice for clients and talent alike,” said Siegel in the firm’s official statement. He felt that, with Grant Thornton positioned for what he said was strong continued growth, it was the right time to step down.

In a LinkedIn post, Siegel said the move will allow him to pursue other ambitions, focus on his health and spend more time with his family.

The new CEO will be Jim Peko, currently chief operating officer of Grant Thornton Advisors LLC.

“I thank Seth for all he has done to help transform Grant Thornton so adeptly for the future,” said Peko. “He has been a colleague, mentor and friend to so many of us, and a tireless advocate for the firm’s best interests. As CEO, my priorities will focus on accelerating our current business strategy and solidifying our standing in the marketplace as a unique global platform, driven by quality, culture and differentiated capabilities. We will continue to be the employer of choice for the industry and always capitalize on compelling opportunities before us as we drive meaningful growth.”

Siegel expressed his confidence in Peko.

“Jim and I have worked closely together for many years, and he is the right leader for this new chapter — one who knows Grant Thornton well and has been integral to our many recent accomplishments and our quality-focused delivery,” he said.

Siegel became a partner in 2006, became managing partner of South Florida in 2020, and became CEO in 2022.

The announcement comes shortly after the completion of the merger between Grant Thornton Advisors LLC in the U.S. and Grant Thornton Ireland. At the time it was said that Siegel would continue in his leadership role at the combined firm, while former Grant Thornton Ireland CEO Steve Tennant would become a member of Grant Thornton Advisors’ executive committee.

The private equity firm New Mountain Capital acquired a majority stake in Grant Thornton’s U.S. firm last March. Grant Thornton laid off about 150 employees in the U.S. last November across the advisory, tax and audit businesses after the deal was announced. Grant Thornton’s U.K. firm also received private equity investment last November from Cinven, which acquired a majority share.