Grant Thornton CEO Exits After Private Equity Deal, Merger (1)

Grant Thornton’s top US leader Seth Siegel, who led the firm through two major restructurings, has stepped down from the role he held since 2022 and will serve instead as a senior adviser at the firm.

Jim Peko, the firm’s chief operating officer, will succeed Siegel as CEO of Grant Thornton Advisors LLC, the firm said Wednesday.

The leadership change comes just days after the firm closed a private equity-backed deal to combine the US firm with Grant Thornton’s affiliate in Ireland, creating a 12,000-person unit. The US arm reported $2.4 billion in revenue in 2023 but has yet to publish 2024 results.

In a separate deal, Grant Thornton’s US arm sold a significant equity stake in the firm to New Mountain Capital last spring.

The restructurings cap a nearly three-decade career at Grant Thornton for Siegel. “With Grant Thornton poised for strong continued growth, I have made the decision that now is the right time for me to step down as CEO,” he said in a statement.

Peko, a chartered financial analyst, previously ran the firm’s advisory practice and its transaction services.

As CEO, Peko intends to stick with the firm’s current strategy and will focus on achieving “meaningful growth” for what he called a “unique global platform,” according to a statement.