Strength in Numbers

When it comes to crunch time, these accountants keep Tennessee's financial engines humming.

When it comes to crunch time, these accountants keep the financial engines of Tennessee's top businesses, and many of its individuals, running

Katie Porterfield [1]

March 2008 [2]

Tax day is around the corner, and that means accountants are getting more attention than any other time of the year. Clearly though, the role of a good accountant involves much more than filling out forms at tax time. Experienced CPAs are vital to business growth and success. From business plan to succession strategy, they weigh in on every aspect of a business’ life cycle. And for public companies in a post-Sarbanes-Oxley world, they are more crucial than ever.

Despite this, accountants, especially the good ones, remain relatively invisible. They’re not like lawyers, who often find themselves in the limelight during a murder case, highly publicized divorce or civil suit. Unless it’s a scandal of Enron proportions, members of this profession maintain a relatively low profile.

As a result, this list was a bit more difficult to compile than others that BusinessTN pulls together each year. To do so, we talked to the Tennessee businesses that utilize and to the lawyers who rely upon accounting services. And, of course, we talked to those who should know best—the accountants themselves.

Admittedly, the list is Big Three-heavy. (PricewaterhouseCoopers’ Tennessee pull-out deprived the Big Four of a member.) That’s not only because that’s where much of the talent is, but it also has something to do with the fact that Ernst & Young holds the majority of the public company accounts in the state. Along those same lines, the bulk of the state’s public companies are in Nashville, so the list also represents a high number of Nashville accountants.

In addition, this is a list in which women are noticeably absent. No one would deny that the lack of female representation is a problem, and most also agree that this is changing. Walk into any accounting firm, big or small, and chances are you’ll see just as many women as men. And though some women are in charge, a substantial number of the female population has yet to make it to high-ranking positions in larger firms. Still, one has to assume that they are on their way.

Caveats aside, this list contains 25 of Tennessee’s finest accountants, number crunchers who, thanks to the following list will for a while at least have to settle for a higher profile than usual.

Tom Aaron Deloitte & ToucheNashvilleTennessee Managing Partner Tapped for managing partner position after accounting veteran Bill Hawkins retired in 2006. Previously served as the leader of Deloitte’s Southeast region life sciences and heath care practice. More than 23 years of experience. Specializes in providing audit and accounting, merger and acquisitions and consulting services to health care companies and private equity firms. Member of Vanderbilt’s Macc Advisory Board, a committee of industry leaders who work with Owen Graduate School of Management faculty and administrators to ensure that the Master of Accountancy degree is relevant to the industry.

Vic Alexander Kraft CPAsNashville Chief Manager Driving force behind firm affiliate structure, which includes Kraft Asset Management, Kraft Technology Group, Kraft CPAs Turnaround and Restructuring, and 2nd Generation Capital. Since Alexander took over as chief manager in 1993, revenues have increased by 25%. Oversees about 147 employees in offices in Nashville, Columbia and Lebanon. Began at Kraft 26 years ago. Specializes in business valuation, litigation support, mergers and acquisitions, and real estate. Clients include Zeitlin & Co. Realtors, Military Systems Group and Freeman Webb Co.

John Billington Ernst & YoungNashville Audit partner Leads the firm’s Tennessee real estate practice. Also specializes in retail hospitality and entertainment industries. Began accounting career at Dallas-based Word Records and Publishing more than 20 years ago and moved to Nashville after accepting an audit position at Arthur Andersen in 1993. Joined Ernst & Young as an audit partner nine years later. Clients include Delek Holdings, HealthStream and Genesco.

Kevin Chadwell Ernst & YoungMemphis Tax Partner One of Ernst & Young’s leading retail tax partners, well-known throughout the retail industry. Joined Ernst & Young 20 years ago, right out of college. Works with publically traded companies in both retail and manufacturing industries. Clients include International Paper, Home Depot and AutoZone.

Nick Decosimo DecosimoChattanooga Managing Principal Since Nick Decosimo took helm as managing principal about four years ago, Chattanooga-based Decosimo has opened offices in Memphis, Knoxville, Nashville and the Cayman Islands. Among Tennessee’s largest accounting firms, its Nashville office opened in June and now has about 20 employees. Decosimo does not work with clients as much as he did before he became the leader of the firm, but he is an audit expert who also provides general business consulting services. Clients include Olan Mills, Life Care Centers of America and McKee Foods (Little Debbie brand snack cakes).

Tom Decosimo DecosimoChattanooga Principal Built and currently heads (with partners Mike Costello and Paul Cheney) the sizeable valuation, acquisition and litigation support areas of Decosimo. Has been involved in the acquisition of more than 100 Coca-Cola bottling plants and five major league baseball teams, including the St. Louis Cardinals and the Cincinnati Reds, which are still audit and tax clients of the firm. Expert witness in 1988 for the Coca-Cola Co. in landmark Diet Coke lawsuit that required the valuation of more than 35 franchises across the United States at three different time periods. Today, primarily conducts valuations for private businesses in relation to selling, gifting, financing, acquiring and other transactions. Also one of the managing directors for FourBridges Capital Advisors, an independent investment banking group spin-off of Decosimo.

Sam DeVane Ernst & YoungNashville Office managing partner Took on office managing partner role about four months ago, leading a 215-employee office that is also home base for some of the firm’s regional leaders. Such leaders include Brad Withrow, who heads up Ernst & Young’s state and local tax practice for the entire Southeast, and Jon Weaver, who serves as the Southeast area health sciences industry leader. DeVane began his career in Birmingham with Arthur Andersen in 1981. Moved to Nashville with Andersen about 11 years ago and joined Ernst & Young in 2002. An audit partner who focuses primarily on the retail industry. DeVane has worked with Dollar General, Corrections Corporation of America and America Service Group.

Bill Drummond Ernst & YoungMemphis OFFICE Managing Partner Took the managing partner reins of the city’s fifth-largest firm (in terms of number of CPAs) in 2005. Office works with more public company clients than any other in Memphis. In 1975, Drummond began career in the Memphis office that would become Ernst & Young. Go-to audit partner who has worked with the majority of public companies in West Tennessee throughout his career. Current clients include Mueller Industries, AutoZone, Buckeye Technologies and Dunavant Enterprises.

John Gawaluck Ernst & YoungNashville Audit partner Coordinating partner on publicly traded company accounts in an office that is responsible for 70% of the large company audits in town. Began career in Ernst & Young’s Denver office in 1973. Promoted to managing partner of Arizona practice in 1994. Moved to Nashville three years later to head up the HCA account. Rotated off HCA after seven years. Maintains health care and insurance specialties. Largest client today is Unum in Chattanooga. Others include Caremark and Gaylord Entertainment. Serves on Nashville Symphony board of directors.

John Griesbeck Reynolds, Bone & GriesbeckMemphis Managing Member Took over managing member role about three years ago, succeeding brother William Griesbeck. Has logged about 30 years in the industry, all with the firm. Family roots run deep in Memphis. Griesbeck’s grandfather was one of the firm’s founders about 90 years ago. His father is a partner, and he and William have another brother, Lee, who is also a partner. (A fourth brother is also a CPA who left to do consulting.) But with about 50 employees today, the firm is much more than a family firm. In addition to management responsibilities, Griesbeck, who headed up the firm’s audit practice for 15 years, spends much of his time working with financial institution clients.

Bob Hester Deloitte & ToucheMemphis Office Managing Partner Premier tax accountant in Memphis market for more than 25 years. Manages office that, with 150 employees, is the largest in Memphis. Provides strategic tax planning and advisory services to large public and privately held corporations, including FedEx and Gaylord Entertainment. Entered the field in 1976. Before joining Deloitte as managing partner in 2002, served as managing partner of Arthur Andersen’s Midsouth practices, which included Memphis, Jackson and Little Rock.

Donnie Hutcherson Henderson, Hutcherson & McCulloughChattanooga Managing partner The go-to guy for automobile dealerships. Other areas of concentration include manufacturers, wholesalers and distributors, retail establishments and financial institutions. Began career in 1977. In 1981, formed Henderson, Hutcherson and McCullough with Ladell McCullough, who heads up the firm’s audit practice and accounting group, and tax partner Carl Henderson. Under Hutcherson’s leadership, the firm has branched out to provide comprehensive financial and business advisory services and now has a total of 64 employees.

Kevin McDermott KPMGNashville Audit Partner/SEC Reviewing Partner Specializes in serving clients in consumer markets, industrial products, financial services and entertainment business segments. Clients served include O’Charley’s, Thomas Nelson, Pinnacle Financial Partners, Central Parking, J. Alexander’s and Regal Entertainment Group. Joined KPMG’s Omaha office in 1978. Joined Nashville office in 1986 and was named partner in 1988. Serves on the board of directors for Goodwill Industries of Middle Tennessee and Nashville Capital Network.

David Morgan Lattimore, Black, Morgan & CainNashville Co-managing partner Driving force behind the growth and vision of Lattimore Black. Launched firm in 1984 with co-managing partner Mike Cain, who is the current president-elect of the Tennessee Society of CPAs. Firm has grown from 12 employees and one office to 400 people in four offices (Nashville, Chattanooga, Knoxville and Memphis). It’s now a multi-company operation supporting financial, human resources, planning, staffing, technology and health care services. Morgan’s client focus is on high wealth individuals and family groups, to which he provides personal financial planning, retirement planning, insurance consulting and investment advisory services.

Larry Morton Crowe Chizek Brentwood Executive Executive in charge of southern region, which includes Nashville and Knoxville offices, as well as two offices in Kentucky and three offices in Florida. Thirty-one year-veteran who became part of Crowe Chizek in 2003 when the firm merged with Kruse & Associates—which he launched with accounting hall of famer Mike Kruse (now a contract executive with Crowe Chizek) and others 10 years earlier. Audit area expert who works within manufacturing, distribution, construction and health care industries. Also works with nonprofits and service-type industry clients. Clients include Old Time Pottery, Shoney’s and T.W. Frierson. Chairman of advisory committee for the accounting department at Middle Tennessee State University.

Ed Pershing Pershing Yoakley & Associates Knoxville President Launched Pershing Yoakley & Associates in 1983 with Doug Yoakley, who serves as the firm’s secretary/director of tax services. Firm has grown from three employees to about 140 employees in offices in Knoxville, Atlanta and Tampa Bay. Ranked 1st in Knoxville in terms of number of CPAs. Expanded focus of firm to include a broad range of services. Firm ranked as one of the nation’s top 20 health care management consulting firms by Modern Healthcare. Pershing has provided health care advisory services to more than 100 health care organizations, including Mountain States Health Alliance, Covenant Health and the UT Health System.

Sid Pilson Lattimore, Black, Morgan & Cain Brentwood Personal Financial Planning Specialist Well-known and regarded, accounting industry veteran Sid Pilson is probably more widely associated with Ernst & Young than Lattimore Black. With Ernst & Young for 36 years—25 in Nashville—before retiring and joining Lattimore Black in June 2006. Arguably the most experienced tax advisor in Nashville. Works with Nashville’s high wealth individuals, including corporate health care executives.

Mark Puckett BDO SeidmanMemphis Regional Tax Partner Seasoned business advisor who serves public and large closely held companies and high net worth individuals. Specializes in health care, real estate, manufacturing and distribution. Has management responsibility over tax departments of BDO offices in Memphis, Nashville, Dallas, Houston, Richmond and Washington, D.C., and responsible for firm’s tax training program. Serves as a trustee of the Tennessee Federal Tax Institute.

Will J. Pugh Pugh & Co. Knoxville Chairman A Knoxville stalwart for many years. Launched what is now Pugh & Co. in 1969 (name changed from Hickman and Pugh in 1981). Prior to that, served as an auditor with the IRS for seven years. Specializes in business and estate tax planning. Spends about half of his time these days on charity work—serves on board of directors for the YMCA, Leadership Knoxville, St. Mary’s Hospital Foundation and Holston United Methodist Church Foundation. Also on the CPA Examination Review Board.

Jimmy Rodefer Rodefer Moss & Co. Knoxville CEO Entrepreneurial CEO of ever-expanding regional accounting firm. Founded in Greeneville by former KPMG partners Bob Rodefer (Rodefer’s father) and Bill Moss in 1990, Rodefer Moss now has offices in Greeneville, Knoxville, Nashville and Kingsport. Rodefer Moss family of companies includes RM Wolff—which, launched in 2007 after teaming with Nashville valuation and forensic expert Laroy Wolff, focuses solely on valuation and forensic services. In 2007, Rodefer Moss was named one of Inc. magazine’s 5,000 fastest growing businesses, experiencing 215.5% sales growth over three years.

Art Sparks Alexander Thompson Arnold Union City Auditing & Accounting Partner Thirty-two-year industry veteran who is active in statewide accounting fraternity, the Tennessee Society of CPAs, serving on board of directors and as chair of the peer review committee. Oversees technical, accounting and auditing issues in firm that has nine offices throughout West Tennessee and one office in Western Kentucky. Responsible for quality assurance. Also peer review board member and chair of the oversight task force for the American Institute of CPAs.

Gordon Thompson Thompson DunavantMemphis Managing Member Formed Thompson Dunavant in 1997 through merging his full-service audit and tax compliance firm (The Thompson Group) with Steve Dunavant’s tax boutique firm in Memphis. With more than 55 CPAs and 115 employees, Thompson Dunavant is now Memphis’ largest local accounting firm and the city’s 2nd largest firm behind Deloitte. Under Thompson’s leadership, the firm has expanded beyond its core, 200-mile radius (around Memphis) to provide market-specific services, including state and local income tax support and international tax support. Most of Thompson’s client work centers around financial and estate planning, particularly for multi-generational businesses. Also heavily involved with sister firm TD Capital Management, a registered investment advisor entity.

Bill Watkins Watkins UiberallMemphis Member Co-founded what is now Watkins Uiberall in 1971 with Michael Uiberall, who is also a senior member. Served as chief member for about 20 years, stepping down in 2007. Led the firm to its role as the sixth largest accounting firm in Memphis with about 60 employees. Also recently opened an office in Tupelo, Miss. Specializes in audit and tax. Industries served mirror the Memphis economy. Clients include Inman Construction, Delta Medical Center and Bank of Bartlett. Largest governmental firm in the area, works with the Shelby County government, as well as the city of Germantown. Serving a second six-year term as at-large member of the Tennessee Board of Regents. Member of the state political sub-committee of the Tennessee Society of CPAs.

Bob Whisenant Horne LLP CPAs & Business AdvisorsNashville Partner in charge Responsible for Horne offices in Nashville, Jackson and Memphis and firm-wide director of fraud, forensic & litigation support. Joined Horne, a Jackson, Miss.-based firm, in 2003 when it merged with Grannis, Whisenant & Associates, where he had served as managing director since 1988. Since Whisenant became partner in charge of Nashville office in 2005, gross revenues have doubled. Client interaction includes working with law firms and consulting clients on succession planning.

Larry Williams Crowe Chizek Brentwood Executive One of the better known tax guys in Nashville area. With about 39 years of experience, industry expertise includes insurance, real estate development, health care and high net worth individuals. Spent 17 years with Deloitte & Touche (originally Touche Ross). Founding partner of Kruse & Associates, which merged with Crowe Chizek in 2003. Clients include the Plateau Group, Lyndon Insurance Group and Ingram Entertainment Holdings.