Private investment executive Jennifer Horrigan joins Grant Thornton’s board
Accounting and consulting firm Grant Thornton has appointed experienced financial services executive Jennifer Horrigan to its national board, with the local branch currently exploring its sale.
Horrigan, presently chairman of Dexus Asset Management and Yarra Funds, brings decades worth of investment banking, relations, and financial communications experience to Grant Thornton’s board at a time when the private equity world is poking around.
Australia is one of the largest remaining territories of the global accounting and consulting firm to have not yet been snapped up by two competing private equity firms, New Mountain Capital and Cinven, with the UK and US and much of the world now divided between them.
“We’re delighted to welcome Jennifer as we continue to evolve the firm and deliver on its strategic priorities,” said Andrea Waters, who was appointed as chair in August. “Jennifer brings practical insights from her experience in financial and professional services, as well as overseeing complex, regulated investment vehicles, and has a strong commitment to stakeholder engagement.”
Based out of Sydney, Horrigan was once a managing director at public relations firm Burson-Marsteller before setting up now Ogilvy-owned Savage & Horrigan at the turn of the century. Since then, she has held numerous senior roles within the financial services space, including notably as COO of Greenhill Australia, which has reportedly been engaged to explore Grant Thornton’s sale.
“Jennifer’s governance credentials combined with her executive experience in investment banking and strategic communications will be instrumental as we shape a better future for Grant Thornton,” stated CEO Said Jahani, who was also appointed to the top role last year. “Her addition strengthens our board’s commitment to quality, client service, and our people’s experience.”
Grant Thornton’s next steps
It could be reasonably assumed that an announcement on the sale of Grant Thornton’s Australian practice is now imminent. Grant Thornton NZ went the way of New Mountain in November, the US-side of the cross-Atlantic private equity battle which now runs the business under a ‘Grant Thornton Advisors’ moniker and has picked up assets across Europe and South America.
“In the context of a dynamically changing professional services sector, both globally and locally, Grant Thornton Australia has been approached by a number of parties looking to partner or invest,” a company spokesperson previously told the AFR. “It’s important that we rigorously evaluate these to determine whether any of them are attractive when compared with self-funding.”
In addition to currently chairing Dexus and Yarra, Horrigan also serves as an advisory board member for sustainability ‘Build-to-Rent’ development and investment platform MODEL, with previous director and chair roles including at that of children’s cancer charity Redkite and ASX-listed companies Generation Healthcare REIT, A2B Australia, and QV Equities.
Horrigan said; “Grant Thornton’s reputation for fostering a collaborative and inclusive culture truly sets it apart. I’ve been impressed by the energy and optimism across the organisation, and I’m excited to join a team that is passionate about making a positive impact and promoting a workplace where innovation, integrity, and care are at the core of everything they do.”
Notably, Grant Thornton Australia’s former chief executive, Greg Keith is now CEO of Grant Thornton International. Prior to its splitting across international lines, the firm globally was ranked as the world’s seventh-largest accounting and consulting organisation of its kind, with revenues in the order of $8.5 billion, approximately $385 million of that presently derived in Australia.
