Minority Business America — Financial Services - Mitchell & Titus, LLP

Accountable
Partnerships
A unique relationship between
Ernst & Young and Mitchell
& Titus creates an avenue for
MBEs to discover an innovative
approach to supplier diversity.
(see page 130)

Minority Business America — Financial Services
Mitchell & Titus thrive as Ernst & Young
member firm
By Justin Jones
There have been plenty of groundbreaking
moments in the storied
history of Mitchell & Titus
L.L.P. since Bert Mitchell and
Robert Titus joined forces in 1974.
What started as a small firm that wanted
to offer better opportunities for minority
CPAs and provide high-quality services to
businesses has blossomed into the largest,
minority-controlled accounting firm in the
United States.
With more than 175 people and offices in
New York, New Jersey, Baltimore, Philadelphia,
Chicago and Washington, D.C.,
M&T has set the bar that many — if not all
— minority accounting firms want to reach.
When M&T CEO Anthony Kendall
was asked if the co-founding visionaries
could have conceived that the enterprise
they started in 2006 would be a member
firm of Ernst & Young Global Limited,
his response was, “They would not have
imagined it. They were just trying to build
the best organization they could. They
could not see that far out — that more
than 30 years later they would become a
member firm of Ernst & Young Global.”
Anthony Kendall
But, Mitchell and Titus did know what
kind of organization they wanted. “They
knew they wanted to build a firm of high
quality, where people had a chance to excel
and realize their potential,” Kendall
said. “That was their goal and dream. To
achieve what the firm has accomplished
today was probably beyond their dreams
at that time.”
A unique relAtionship
As a member firm, M&T follows Ernst
& Young’s quality, risk management and
independence procedures, in addition to
having access to leading technological
resources and the collective knowledge
base of the other member firms around
the world.
However, M&T has maintained its brand
identity and operates under its current ownership
as a minority business enterprise.
“We are in a unique situation because
this membership allows us to bring the
most advanced and sophisticated tools to
the marketplace and to our clients that I
don’t think other firms our size can offer,”
Kendall said. “It also allows us to attract
clients that maybe three years ago
we could not attract, because we
did not have the appropriate tools
and resources.”
Meanwhile, as companies con-
tinue to come out of the economic
downturn, Steve Howe, Ernst
&Young’s Americas area managing
partner, believes this relationship
is a differentiator that
will help Ernst &Young grow and succeed
in the future.
To date, Ernst &Young has member
firms in more than 140,000 countries.
“Through our relationship, we are proving
that diversity makes business sense,”
Howe said. “We’re serving clients together
and we’re committed not only to bringing
more minorities into the accounting profession,
but also to supporting entrepreneurship
and supplier diversity. The M&T
relationship hits on all of these critical areas,
and it’s a real expression of the value
of inclusiveness at Ernst & Young.”
Keys to success
This successful relationship also is a
testament to both companies’ dedicated
efforts to provide the highest quality of
service for their clients.
“We believe there is only one way you
can sustain growth, and this is by providing
quality service to your clients. If we
don’t produce quality, our success will not
be sustainable,” Kendall said. “If you look
at Ernst & Young, their tagline is ‘quality
in everything we do.’ If you put two organizations
together that are committed to
quality, the outcome will be high quality.
We both recognize that quality has to be
first and foremost. This is one of the reasons
why it’s easy for us to work together.”
The other keys to success, Kendall continued,
are the companies’ mutual respect,
great leadership, trust, open communication
and a commitment to work through
any situation.
“We believe there is only one way you can
sustain growth, and this is by providing quality
service to your clients. If we don’t produce
quality, our success will not be sustainable.”
— Anthony Kendall
130 MBN USA l CONFERENCE EDITION 2010 www.mbnusa.com

of
here is unique in the accounting the future holds for this relationship, he
profession. We are both proud of acknowledged it looks bright.
it and want to continue to move “I’m not sure either of us truly under-
rt
forward in a constructive and instood what we were capable of doing. I
novative way.”
say this because Mitchell & Titus and
The
Intelligent Communications
Ernst & Young are the only two firms that
A bright future
operate in the same geographic area, pro-
Ask Tim Steve what Howehe
thinks As a result about of getting Ernst &Young’s something viding done. similar Maybe services,” just our Kendall logo and said. tag line and
advertising - communications relationship with - website M&T, “we’ve development “This - multicultural is unique, and marketing we had to figure
had great client wins together,” out how two member firms would each
“Bringing this mix of talent and the Howe said. “It’s been very rewarding to provide similar services, using the same
synergies we are able to create has been see the benefits that Mitchell & Titus have tools in the same marketplace,” he said.
Influence
critical in allowing us to focus on our derived as a member firm through access “Although this could be considered chal-
clients’ needs by delivering a broader, to our global learning and development lenging, we have learned innovative ways
diverse and inclusive team that meets programs, technology platforms and over- to work together to ensure that it’s benefi-
the goals of our clients,” said Tom Mc- all support.”
cial to our clients. I think this relationship
Grath, senior vice chair of markets for the For Kendall and M&T, this relationship has exceeded our expectations, and we
Americas. “The model we have created has been equally rewarding. As for what are just at the tip of the iceberg.”
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“We’re serving clients together and we’re
committed not only to bringing more
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but also to supporting entrepreneurship and
supplier diversity.”
— Steve Howe
Communications
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www.mbnusa.com CONFERENCE EDITION 2010 l MBN USA 131