Thorntons history

Marilyn Nemec was named the first female partner in 1973.

Net revenue exceeded $50 million in 1974.

In 1979 the accounting firm began an annual study that ranked the 50 states according to their "manufacturing climates." Based on polls of state manufacturing associations, Grant rated the states according to 18 factors such as taxes, qualified workforce, and state disbursements for highways.

Thornton member firm in 1982 of this site it is necessary to enable JavaScript your.

Growth, Unrest, and Change: 1985-90

In 1986 the company merged with U.K. accounting firm Thornton Baker, and the company changed its name to Grant Thornton.

P&A Grant Thornton was born in 1988, headed by two prominent leaders in the accounting profession in the Philippines, Benjamin R. Punongbayan and Jose G. Araullo.

Between January and December 1989, accounting historian Peter Boys prepared a series of simplified family trees showing the development of the big accountancy firms of the day.

That same year, a new executive partner, Robert E. Nason, was appointed to help Grant consolidate gains that have been made after the scandal four years ago, said Lee Berton on February 14, 1990, for the Wall Street Journal.

The firm became a limited liability partnership in 1995.

In 1997, after international trade barriers were lowered, Grant Thornton established international business centers in four major United States cities.

The centers helped "small to mid-sized companies to develop business relationships in emerging markets around the world," said Caitlin Kelly for Accounting Today in January 1998.

In 1999, PricewaterhouseCoopers LLP approached Grant Thornton with merger talks, but eventually the two companies decided not to merge.

In June 2000 Grant Thornton pulled out of a different kind of merger.

In March 2001 the firm's executive committee asked CEO Domenick Esposito to resign because of disagreements about the direction of the firm.

By July 2002 Grant Thornton had acquired from the fallen Andersen: 7 offices, 43 partners, and 396 staff.

In 2004, Women at Grant Thornton was established to enhance the recruitment, retention and advancement of women into leadership positions, and the firm’s Phoenix office opened.

Working Mother magazine named Grant Thornton for the first time in 2006 as one of the 100 Best Companies for its commitment to progressive workplace programs, including child care, flexibility, advancement and paid family leave.

Net revenue exceeded $1 billion in 2007.

Stephen M. Chipman was named chief executive officer in 2009.

2010 Dodd-Frank Act enacted broad reforms for the United States financial services industry.

In 2011, Grant Thornton acquired experienced audit, tax and advisory professionals from LECG, Huron Consulting, and CCR in Boston.

In 2012, the firm opened the Grant Thornton Shared Services Center in Bangalore, India, in partnership with Grant Thornton India.

J. Michael McGuire was named the firm’s chief executive officer-elect in 2014, succeeding Stephen Chipman on Jan.

In 2016, this platform was expanded in select Chicago metropolitan area stores.

In 2019, Thorntons was acquired by a joint venture between Arclight Capital Partners and BP. The acquisition was made final on February 11, 2019.

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