SPECIAL REPORT: Arthur Andersen Veteran Finds Success in Failure

Managing Partner, CohnReznick LLP, Woodland Hills Years at firm: 7 Residence: Agoura Hills What was the worst day of your career? I started my career at Arthur Andersen. I was a young partner in early 2002 when the firm was thrust into the forefront of the news and ultimately decided to shut down its accounting operations. Although it was a stressful and trying time, it was also a time for reflection and the need for focus. Going through a situation like that provides opportunity for exponential internal growth. I learned that goal setting, forward thinking, optimism and close bonds with colleagues and friends are a platform for success. I emerged from 2002 standing on my feet. In fact, my Andersen experience has been a springboard for success. And those close bonds I mentioned – my friendships with my former Andersen colleagues – are among the closest I have. What is the best career advice you would give to others? Always stay positive and optimistic, even in the face of adversity. Build close relationships based on trust. Develop goals and proactively pursue them. Keep your mind forward thinking. Learn from mistakes (yours and others). Always be honest and transparent and maybe most important – have fun! These are not new concepts. In fact, they are among the lessons provided to me by my mentors as I grew my career. What is your firm’s primary specialty? Our largest industry niche is real estate. We also have deep skills in various consulting areas including due diligence M&A transaction advisory services, IT consulting and financial restructuring. Our firm serves more than 20 industries including commercial real estate, affordable housing, renewable energy, private equity, technology, non-profits, hospitality, manufacturing, distribution, retail and consumer products.  Who are your typical clients? Our primary focus is with middle market clients. But we also serve pre-revenue and emerging entrepreneurial companies all the way up to Fortune 100 companies. Some of our clients are owner managed, others are private equity owned and others are publicly held. While we can’t name our clients, some are household brands and well-known celebrities while others operate quietly and profitably under the radar. Has your firm expanded beyond traditional accounting services? Our firm was built on a foundation of traditional accounting and tax services and we continue to grow these service areas.  We have also successfully grown our advisory services, including IT and cybersecurity, efficiency improvement, forensic, financial restructuring, governance and internal audit, specialty tax credits and international. Any further expansion plans? CohnReznick currently has 30 offices and we intend to grow larger. In some cases, we will grow through the addition of talented partners and in other cases we will grow through the strategic merger of other accounting and consulting firms. Our ongoing growth and expansion is critical to support our goal of being stewards and providing robust career opportunities for our people. Is there something personal your colleagues don’t know about you, such as a personal interest or hobby? When I was in college, I had a deep interest in radio. This wasn’t an interest in endless hours of listening; rather, I was mesmerized with the idea of broadcasting.  I pursued my interest and ended up with two different radio jobs. While in college, I landed a job – well, not a paid job, but it was fun – with the news department at the university radio station, KALX-FM in Berkeley. In the beginning, I ran around campus with a tape recorder interviewing people as a beat reporter and hoping my news story would make it on the air. The next year I earned a spot reading the news for the 3 p.m. news update. This was really a thrill. It didn’t stop with college news. The summer after my freshman year, I found a summer gig (again, it didn’t pay, but it was a lot of fun and great experience) with a cable radio station based in Simi Valley, KCME-FM. I was a disc jockey doing six hour shifts. And the best part is that the format was heavy metal, which I had to learn from scratch. Two of my favorite memories from this job are, first, during a midnight to 6 a.m. shift when I was tired I actually played a Beatles album side (remember, this was a heavy metal station); and second, I played a tape of an unknown band called Poison. I haven’t been on the radio since college, but these were among the best jobs I had prior to public accounting.  – Joel Russell