Grant Thornton International

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Grant Thornton International Ltd
Global network of independent member firms
Industry Professional services
Founded 1980
Headquarters London, United Kingdom
Key people
Ed Nusbaum, CEO
Grant Thornton International Ltd
Products Assurance services
Tax advisory
Specialist advisory services
Privately held business services
Revenue Increase$4.7 billion USD (2014)
Number of employees
40,000 (2015)

Grant Thornton is the world's fifth largest professional services network[1] of independent accounting and consulting member firms which provide assurance, tax and advisory services to privately held businesses, public interest entities, and public sector entities. Grant Thornton International Ltd is a not-for-profit, non-practicing, international umbrella membership entity organized as a private company limited by guarantee. Grant Thornton is incorporated in London, United Kingdom, and has no share capital.

According to Grant Thornton International Ltd, member firms within the global organization operate in over 130 countries. Combined global revenues from member firms in 2014 was US$4.7 billion. There are over 2,500 member firm partners and total member firm personnel of over 40,000.

Early history[edit]

In 1924, 26-year-old Alexander Richardson Grant founded Alexander Grant & Co. in Old Chicago. Grant had been a senior accountant with Ernst & Ernst (now EY). Alexander Grant was committed to providing services to mid-sized companies.

When Grant died in 1938, Alexander Grant & Co. survived the change in leadership and continued to grow nationally. In 1969, Alexander Grant & Co. joined with firms from Australia, Canada, and the United States to establish the organization of Alexander Grant Tansley Witt. This organization operated successfully for 10 years.

By 1980, Alexander Grant & Co. joined with 49 other accounting firms, including Thornton Baker in the UK, a firm with similar qualities, clients, personnel numbers and values, to form a global organization, Grant Thornton. In 1986, Alexander Grant & Co. changed its name to Grant Thornton, reflecting its affiliation with the United Kingdom firm Thornton Baker, which also changed its name to Grant Thornton.[2]

Recent significant mergers[edit]

Bradenham Manor in Buckinghamshire, England, owned by Grant Thornton as a training facility.
  • In 1987 Grant Thornton merged with Carter Chaloner & Kearns
  • Grant Thornton UK merged with RSM Robson Rhodes in July 2007[3]
  • Grant Thornton Russia merged with Rosexpertiza in January 2012[4]
  • Grant Thornton China merged with Ascenda CPA in January 2012[5]
  • In May 2012 Grant Thornton Australia merged with several former BDO offices in Melbourne and Sydney.
  • In July 2013, Grant Thornton Johannesburg merged with the local PKF member firm.[6]

Although many of the firms now carry the Grant Thornton international name, they are not all members of one international partnership. Each member firm[7] is a separate national entity, and governs itself and manages its administrative matters independently on a local basis. This is similar to other professional services networks.

Member firms[edit]

Grant Thornton's UK headquarters in Euston, London.

Grant Thornton member firms service international work through their local International Business Centres—located in 40 major commercial centers throughout the world.

Grant Thornton International Ltd carries out an annual global research project: the International Business Report,[8] which surveys the views and expectations of over 11,500 privately held businesses across 40 economies.

See also[edit]