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For immediate release
Wednesday, Nov. 9, 2011 – Calgary, AB
Canada's fastest growing accounting firm, MNP LLP (MNP) is the only Canadian Company to be recognized in the 2011 Accounting Today Top 100 Most Influential People List. MNP CEO, Daryl Ritchie (see biography), named on the top 100 list, credits strategic mergers and acquisitions, value-added services and the corporate culture at MNP for moving the company to a place of international recognition and influence in today's accounting and business community.
The top 100 list is the accounting equivalent of Forbes Most Influential. The Accounting Today issue covering the top 100 list explains that firms in the U.S. states bordering Canada are well aware of MNP and its' understated CEO. The article discusses how Ritchie has quietly built MNP into one of the largest accountancy firms in Canada.
According to Daryl Ritchie, MNP's relationship-based and partner-led approach to mid-market business has allowed the firm to lead the pack with the highest year-over-year growth rates of any of Canada's top accounting firms for more than five years straight (see chart on annual growth rates of top Canadian accounting firms in the following Corporate Backgrounder). "MNP walks the talk of having an organizational culture and values founded upon an unwavering commitment to our people, both clients and team members,” says Ritchie. "MNP is quite simply a fun and rewarding place to work and do business where authentic relationships, an entrepreneurial spirit and a healthy balance between home and work life are at the core of how we run our business.”
MNP has seen strong growth in a shaky economy through mergers and acquisitions with like-minded, quality firms who share the same commitment to people. "To maintain our corporate culture, we have been very strategic about who we invite to join our team,” says Ritchie. "We carefully guard our corporate culture and as a result, we have a low client and employee turnover and are attracting some of the brightest professionals in our industry.”
According to Ritchie, senior partner-led teams who add value by working directly with clients at the local level have catalyzed the company's rapid growth. "We are a partner-owned organization and all partners are empowered to make immediate decisions on behalf of clients without having to go through intensive bureaucratic procedures,” explains Ritchie. "Senior partner-led teams allow MNP to be highly responsive to clients' needs in an economic environment that often demands quick action."
"By staying true to our culture and values, we continue to engage and motivate more than 2,800 MNP team members from Vancouver Island to Quebec,” explains Ritchie. "Putting people first is the way we conduct business and we will never lose sight of that."
MNP (formerly Meyers Norris Penny) is 100 percent Canadian and is the nation's seventh largest full-service chartered accountancy and business consulting firm. MNP, the only large national accounting firm to be based in the West, is headquartered in Calgary, Alberta with more than 70 offices across Canada. MNP serves mid-market private entrepreneurial and publicly-listed companies. With over 65 years in the accounting industry, MNP maintains its unwavering commitment to provide full-service accounting and business counsel to mid-market businesses. As a company operating under the radar of public attention, MNP is poised to become a significantly more visible participant in the corporate business affairs of our nation. For more information, visit www.mnp.ca.
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See the following for a corporate backgrounder and biography for Daryl Ritchie.
Corporate Backgrounder for MNP
Once exclusively a western Canadian firm, MNP is now established as one of the top national accounting and business consultancy firms in Canada with offices from Vancouver Island to Quebec. Headquartered in Calgary, Alberta, MNP is Canada's fastest growing accounting firm with the highest year-over-year growth rates of any of Canada's top accounting firms for more than five years straight. "MNP's rapid growth is a result of a combination of strong strategic acquisitions and mergers, organic growth and the firm's philosophy of building lasting relationships with employees and clients,” says Daryl Ritchie, CEO of MNP.
The chart below shows MNP's growth in comparison to its competitors.
Formerly Meyers Norris Penny, MNP has maintained a strong, unified corporate culture by guarding some basic life principles: work should be enjoyable and fun; every employee is encouraged to be entrepreneurial; clients work directly with senior partner-led teams allowing for independent decisions to be made on a timely basis; and a healthy balance between work and home life is essential.
One of MNP's strengths that set it apart from its competitors is the strong client relationship serviced by senior partner-led teams. By having senior MNP partners working at a local level, MNP is able to come to the right solutions faster and provide timely business advice in economic environments that often require quick action.
MNP is an industry leader for mid-market companies and is able to offer a consistent client service approach to mid-market companies across the firm.
MNP has grown over the years, one handshake and smile at a time. With more than 70 offices across the country and over 2,800 employees, MNP is the seventh largest chartered accountancy and business consultancy firm in Canada. At MNP, finding the right business solutions always begins with relationship.
MNP will be the preeminent, full-service, mid-market accounting and business advisory firm in Canada. MNP specializes in mid-market business and has no plans of expanding out of this area of expertise.
MNP's Culture and Values
MNP has a corporate culture with roots that go back to the company's inception 65 years ago. While MNP has been through mergers and acquisitions across Canada, the firm has maintained a strong, unified corporate culture. MNP's collective expression of this corporate culture is found in the firm's client service philosophy of treating clients like team members. MNP's corporate culture is not one that is mandated through a human relations program. Instead, the culture is a way of life that employees buy into and is expressed in how business in done at MNP. The core values of MNP are centered on people, clients, professions and communities. The following outlines how MNP's core values are expressed in the corporate culture:
MNP's Team Approach
At MNP, employees are referred to as team members. MNP policies and guidelines are prepared with the word team. Teamwork is integral to MNP's culture and its success throughout the firm's history. The prevailing team culture at MNP extends throughout the firm where everyone is on a first name basis. Whether they are partners, managers, administrators, file preparers, the CEO, analysts or executive vice presidents, everyone is equal to everyone else. Every member of the team is valued regardless of vintage or title.
MNP has the depth of services and bench strength of the large, multinational competitors, yet the agile client service philosophy and value-added approach of its mid-tier competitors, giving clients the best of both worlds. The following summarizes the core service offering at MNP:
MNP Niche Services
MNP has invested resources into identifiable client groups in specific industries and cultures, referred to as niches. This focus on niche markets operates on a national, regional and local level. MNP's niche strategy has allowed for niche teams to develop with an in-depth understanding of industry and cultural aspects of individual niche markets. Niche marketing has also resulted in the establishment of MNP team members as thought leaders through presentations and media consultation. The following summarizes some of the existing niche market specialties under the MNP umbrella:
MNP will continue to deliver world-class thinking with local understanding across Canada. MNP's growth over the next five years will come from continued expansion nationally. MNP also looks forward to the continued growth of their existing offices as they focus on introducing their clients to new services.
Biography of Daryl Ritchie, CEO, MNP
Like many employees at MNP, Daryl Ritchie has worked his entire professional career with the firm. Daryl has served as CEO for MNP since 1998, well above the industry standard tenure for CEOs of less than seven years. Daryl is committed to steering the MNP ship and has led the firm's growth through massive industry changes, helping MNP become the seventh largest chartered accountancy and business consulting firm in Canada. People around Daryl know that he has a risk taking ability and the precious skill of taking people along.
Today, the firm employs more than 2,800 people in 70 offices across the country. Prior to his role as CEO, Daryl served in many senior level positions within the firm including Director of Tax Services, Director of Client Services and Regional Managing Partner for Southern Alberta. He was elected to the MNP Board of Directors in 1991 and has served on the board for 19 consecutive years. Daryl is a coach, a mentor, an entrepreneur, a visionary and a proven leader. Under Daryl's guidance, MNP has reached new heights. "I believe in the power of people and what they can do,” says Daryl. By continuing to develop and encourage leadership within the firm and by reinforcing the culture and values, Daryl has helped distinguish MNP from other firms. For the past four years, MNP has been recognized as one of the Best Employers in Canada by an independent study published in McLean's Magazine.
While Daryl is well respected in the accounting industry, he has been relatively under the radar in the national business scene. Recently, Accounting Today appointed Daryl to the Top 100 Most Influential People List. According to Bill Carlino, Editor-in-Chief, Accounting Today, "Daryl is an influencer and change maker in the accounting profession so we felt he deserved to be included this year. Daryl is home-grown, approachable and efficient and has quietly built MNP into one of the largest accountancy firms in Canada," he adds.
Daryl has held various board and committee appointments. Active in his professional community, Daryl is a member of the Praxity Global Alliance of Independent Firms Board. Daryl also demonstrates his leadership as the current President and Council Member of the Institute of Chartered Accountants of Alberta. Daryl was first elected to ICAA as council member in 2006.
Daryl's vision also has national reach. He was the primary architect behind the Government of Canada Net Income Stabilization Program. He has also served on numerous regional and local boards including the Brandon Chamber of Commerce and the Brandon Community Development Corporation.
Daryl obtained his Bachelor of Commerce degree with honours, from the University of Manitoba. He also holds the Chartered Accountant and the FCA designations. Daryl and his wife, Dawna, have five children and three grandchildren.
Photographs are available of Daryl Ritchie upon request.
Related Topics:Awards and Recognition; MNP Team
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