Grant Thornton

Grant Thornton International Ltd

Type	Global network of independent member firms
Industry	Professional services
Founded	1980
Headquarters	Chicago, Illinois
Key people	Ed Nusbaum, CEO Grant Thornton International Ltd
Products	Assurance services Tax advisory Specialist advisory services Privately held business services
Revenue	$4.6 billion USD (2015)
Number of employees	42,204 (2015)
Website	www.grantthornton.global

Grant Thornton is the world's seventh largest professional services network 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-practising, international umbrella membership entity organised as a private company limited by guarantee. Grant Thornton International Ltd is incorporated in London, United Kingdom, and has no share capital.

According to Grant Thornton International Ltd, member firms within the global organisation operate in over 130 countries. Combined global revenues from member firms in 2015 were US$4.6 billion. There are over 2,500 member firm partners and total member firm personnel of over 42,000.

The earliest origins of the name date back to 1904, when the UK firm of Thornton, Webb & Co was formed. Through a series of name changes this firm merged in 1959 with another UK firm, Baker & Co, which traced its origins to 1868, to form the firm Thornton Baker. In 1975 Thornton Baker merged with Kidston, Jackson, McBain, a UK firm which traced its origins to the Glaswegian accountant, Robert McCowan, who set up in practice in 1844, and was a founder of the Institute of Accountants and Actuaries in Glasgow in 1853.

In the US, 26-year-old Alexander Richardson Grant founded Alexander Grant & Co in Chicago in 1924. 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 organisation of Alexander Grant Tansley Witt. This organisation operated successfully for 10 years.

In 1980 Alexander Grant & Co and Thornton Baker, firms with similar qualities, clients, personnel numbers and values, joined with 49 other firms to form a global organisation, Grant Thornton. In 1986, Alexander Grant & Co and Thornton Baker changed their names to Grant Thornton, reflecting their mutual affiliation and strategic alignment.