Stephen Chipman is to replace Edward Nusbaum as chief executive
of Grant Thornton US from 1 January next year.

Chipman, who has been with the network for 28
years, was most recently chief executive of the Greater China
management corporation and responsible for leading the development
and growth of services for Grant Thornton in China.

During the past two years, Grant Thornton’s
resources in China expanded significantly to more than 1,600 people
across six offices.

Chipman previously served as the firm’s US
central region managing partner from 2003 to 2006, the managing
partner of the Dallas office from 2000 to 2003, and the US managing
partner of global services and worldwide director of international
business centres from 1998 to 2000.

He helped develop the strategy and business
plan for the launch of the Grant Thornton’s international business
centre network.

Chipman said that the US firm’s development of
global capabilities through the international organisation will be
an important part of his plans for the firm.

“About a third of our revenues come from
clients who have international operations and it is the fastest
growing part of our revenue base,” he explained. “We will also
focus emphasis on the larger emerging markets such as China, India,
Brazil, Eastern Europe and Russia where we see a particularly high
level of client activity.”

Nusbaum, who became leader in 2001, is leaving
the US post to succeed David McDonnell as chief executive of Grant
Thornton International.

Under Nusbaum’s leadership, the US firm
tripled in size, with annual revenues growing from $400 million to
$1.2 billion.

Grant Thornton US is the sixth-largest US
firm, according to International Accounting Bulletin
data.