London and South East region managing partner Michael Cleary is to step into McDonnell’s shoes in the UK.
McDonnell, the firm’s longest-serving national managing partner, takes on a global operation of more than 600 offices with revenue in excess of $1.7bn (Pounds 1.18bn). He replaces Robert Kleckner who is retiring after 14 years in the post.
McDonnell said: ‘I have quite literally grown up with Grant Thornton since I qualified in the early 1960s. Becoming national managing partner in 1989, at a time of tremendous change in the profession, was a great honour.
‘I knew we had to carve out a new direction for the firm. Delivering my vision of Grant Thornton’s market leadership was a challenge that was actively, enthusiastically and successfully embraced by all throughout the firm.’
In February, Grant Thornton halted merger talks with mid-tier rival HLB Kidsons due to a failure to agree terms.
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Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
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Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.