Pevita Pearce
The esteemed accounting and advisory firm BPM has announced a significant leadership transition, appointing Nick Steiner as its new Chief Executive Officer, effective immediately. Steiner, a seasoned professional with over two decades of dedicated service to BPM, steps into the role previously held by Jim Wallace, who is retiring after an illustrious 11-year tenure. This leadership change marks a pivotal moment for BPM, a firm recognized among the top 50 accounting and advisory practices in the nation.
The appointment of Steiner is the culmination of a comprehensive and rigorous succession planning process. Spearheaded by BPM’s dedicated CEO Succession Committee and meticulously reviewed by the firm’s Board of Directors, the selection process aimed to identify a leader capable of steering BPM into its next era of innovation and expansion. The decision was formally ratified through a vote by BPM’s partners, underscoring a unified vision for the firm’s future leadership. This strategic move, announced on August 25th, signals a commitment to continuity while embracing fresh perspectives.
A Leader Forged Within BPM: Nick Steiner’s Ascent
Nick Steiner is no stranger to the inner workings and strategic direction of BPM. Having recently marked his 20th anniversary with the firm, he brings a deep well of institutional knowledge and a proven track record of success. Currently serving as the firm’s Chief Growth Officer, Steiner has been instrumental in shaping BPM’s strategic trajectory and expanding its service offerings. Prior to this role, he was a respected partner in the Assurance and Advisory practices, where he cultivated a reputation for his incisive strategic clarity, a genuinely people-first leadership approach, and an unwavering focus on delivering measurable results.
One of Steiner’s most significant achievements was his leadership of the Advisory Practice Group. During his tenure, he orchestrated an extraordinary expansion, transforming the practice from a revenue stream of under $10 million to a powerhouse generating nearly $100 million. This growth was not merely financial; Steiner was pivotal in positioning BPM as a vanguard in technology-forward advisory services, a critical differentiator in today’s rapidly evolving business landscape. His foresight in embracing and integrating cutting-edge technologies has been a cornerstone of BPM’s competitive edge.
A Vision for the Future: Continuity and Innovation
Sandy Murray, Chairman of BPM’s Board of Directors, expressed strong confidence in Steiner’s ability to lead the firm forward. "Nick is the right leader for BPM’s next chapter," Murray stated in an official release. "He brings deep institutional knowledge, a proven record of growth, and a genuine commitment to our people and clients. His leadership reflects the values that define BPM, and I am confident he will guide the firm forward with clarity, integrity, and vision." This endorsement highlights Steiner’s alignment with BPM’s core values and his capacity to build upon the firm’s established strengths.
Steiner himself conveyed a sense of honor and enthusiasm upon accepting the role. "I want everyone to bring their best, feel empowered to try new things, and celebrate our successes together," he shared in a statement. "Our people and our culture have always been at the heart of what makes BPM special. At the same time, we have a long history of embracing new ideas and technology when they can help us serve our clients and strengthen our business. I believe our opportunity is to bring those strengths together even more effectively—combining the best of our culture with the best of what technology and new ideas can offer—and build an even stronger BPM for the future." This statement articulates a balanced approach, emphasizing the synergy between BPM’s strong human capital and its embrace of technological advancement.
A Career Rooted in Expertise and Client Success
Steiner’s journey with BPM began in 2006, bringing with him over 25 years of comprehensive experience spanning both public accounting and private industry. Before ascending to Chief Growth Officer, his leadership as the Advisory Practice Group leader and his co-leadership of BPM’s Technology Industry Group provided him with invaluable insights into diverse market dynamics and client needs.
His advisory expertise is extensive, encompassing a wide array of critical business challenges. Steiner has guided clients across dynamic sectors such as semiconductors, Software-as-a-Service (SaaS), software development, life sciences, networking, and manufacturing. His experience includes adeptly navigating clients through complex financial transactions and regulatory landscapes, including initial public offerings (IPOs), business combinations, intricate financing arrangements, and demanding Securities and Exchange Commission (SEC) reporting and compliance matters. This breadth of experience positions him to understand and address the multifaceted needs of BPM’s diverse clientele.
Academically, Steiner is well-qualified to lead a prominent accounting firm. He holds an active CPA license in California and is a Chartered Global Management Accountant, demonstrating a commitment to professional excellence. He earned his Bachelor of Science degree in Finance from Santa Clara University and further honed his academic credentials with a Master of Science in Accountancy from the University of Notre Dame.
Strategic Priorities and Enduring Commitments
As he assumes the CEO mantle, Steiner has outlined several key priorities for BPM’s immediate future. Foremost among these is a continued investment in the firm’s people, recognizing that their development and well-being are paramount to sustained success. Strengthening a sense of belonging across the entire firm is also a critical focus, aiming to foster an inclusive and collaborative environment. Furthermore, Steiner is committed to the ongoing elevation of client service, ensuring that BPM continues to exceed expectations and deliver exceptional value.
Crucially, Steiner emphasized that BPM’s core commitments to its clients, colleagues, and the communities it serves remain steadfast. "Our promise endures," he declared. "Because people matter." This powerful statement encapsulates BPM’s client-centric philosophy and its dedication to making a positive impact beyond its business operations.
Jim Wallace’s Legacy of Growth and Transformation
The leadership transition marks the retirement of Jim Wallace, who has served as BPM’s CEO for the past 11 years. Wallace’s tenure is widely credited with guiding the firm through a period of remarkable growth and profound transformation. When he first took the helm in 2015, BPM was a significantly smaller entity, with revenues of $69 million and a professional staff of just over 300, predominantly concentrated in the San Francisco Bay Area.
Under Wallace’s strategic direction, BPM has experienced exponential expansion. Today, the firm boasts revenues exceeding $254 million and a robust team of nearly 1,300 professionals, operating across a network of offices and locations globally. This growth trajectory is a testament to his leadership, strategic acumen, and ability to foster a culture conducive to innovation and client success.
Reflecting on his time as CEO in a statement released last March, Wallace expressed profound gratitude. "Serving as CEO of BPM for more than a decade has been an extraordinary privilege. As I reflect on the past eleven years, what I feel most is gratitude," he said. "What began as a regional firm has become a global organization serving clients, communities, and industries in many markets. While I am proud of the growth we have achieved, what matters most to me is how we achieved it. We grew while staying true to the values that define BPM." His words highlight a leadership philosophy that prioritized not just financial growth, but also the integrity and values that underpin the firm’s success.
Broader Implications for the Accounting and Advisory Sector
Nick Steiner’s appointment as CEO of BPM arrives at a critical juncture for the accounting and advisory industry. The sector is navigating a complex landscape shaped by technological disruption, evolving client expectations, and a growing demand for specialized expertise. Steiner’s emphasis on technology-forward services and his vision for integrating innovation with a strong human-centric culture are likely to set a precedent for how firms adapt and thrive in this dynamic environment.
His background in rapidly growing advisory practices, particularly within the technology sector, suggests a continued focus on expanding BPM’s advisory capabilities. This strategic direction is well-aligned with market trends, as businesses increasingly seek sophisticated guidance on digital transformation, data analytics, cybersecurity, and sustainability.
The successful completion of BPM’s succession process, with a leader deeply ingrained in the firm’s culture and strategic vision, provides a strong foundation for continued stability and progress. For clients, this means a seamless transition and an assurance of continued high-quality service and strategic partnership. For employees, it signals an environment that values internal talent development and fosters opportunities for growth within a forward-looking organization. The firm’s commitment to its people and its client-first ethos, reinforced by Steiner’s statements, positions BPM for sustained success in the competitive accounting and advisory market.
