Crowe Horwath International has appointed Crowe Horwath US chief executive officer Charles Allen and Ruihua principle partner Yang Jiantao as co-chairmen of the network, effective 1 January 2015.
Allen and Yang will replace outgoing chairman Andrew Pianca, who is coming to the end of his two year term.
The appointment of the co-chairmen follows that of James Powers in July this year. Currently managing partner of the network’s Indianapolis office, Powers is set to take Allen’s place as Crowe Horwath US chairman in April 2015, a position the latter has held since 2007.
Conversely, Yang has been at the helm of Ruihua since it was established as the product of the merger between RSM China and Crowe Horwath China in June 2013.
The RMB 2,675m ($433m), top-three Chinese firm has maintained its stance as a non-exclusive member to both networks, but is expected to eventually select one of the networks for full membership.
Approached by IAB, Crowe Horwath International declined to say whether the decision to appoint Yang as co-chair was indicative of the kind of strengthened relationship between Ruihau and the network that could suggest the firm is closer to selecting Crowe
Horwath International for long-term membership in China.
The network’s spokesperson said: "The board’s decision relative to voting Mr. Yang as co-chairman was based on this history and the knowledge that his future contributions are likely to have a significant impact on Crowe Horwath International’s future role as a global network."
Crowe Horwath International chief executive officer Kevin McGrath said of the appointments: "Chuck and Jiantao have a close working relationship as business leaders in two of the world’s largest economies."
He added: "Having these two individuals as co-chairmen will provide enhanced cultural diversity and perspective."