Forbes has named Joseph Damiano, CEO and Managing Partner of SAX LLP – a Top 100 accounting, tax, and advisory firm – to its inaugural list of “America’s Top 200 Accountants.” The Top 200 list highlights the most exceptional practicing CPAs throughout America — the elite in the accounting profession. The CPAs selected were recognized for their impressive track records and the barriers broken to emerge as leaders in their fields, as well as how they’ve advanced the CPA profession and given back to their communities.
“It’s truly an honor to stand alongside such exceptional professionals recognized by Forbes,” expressed Damiano. “This acknowledgment as one of America’s most esteemed CPAs underscores the invaluable contributions of the entire SAX family. Together, they’ve fueled our firm’s remarkable growth trajectory, delivering unparalleled service to our clients and propelling us to new heights in the accounting profession. I am honored to serve as SAX CEO and Managing Partner.”
Since becoming managing partner in 2015, Damiano has reinforced SAX’s strong company culture, initiating a new organizational direction that emphasizes SAX LLP as its clients most trusted advisor. This shift has contributed to the firm’s expansion from a single office to four growing locations, including the firm’s first international office in India. AUM has more than tripled from $656 million to over $2 billion, while revenue nearly quadrupled from $27 million to $93.5 million since 2015. SAX LLP has grown from 20 partners to 61, and now has more than 324 full-time employees.
“Joe’s visionary leadership and the dedication of his team have propelled SAX LLP to unprecedented heights in the accounting profession,” said Leon Grassi, CMO and Head of Business Development at SAX. “Under Joe, the firm has shattered conventional boundaries, paving the way for unparalleled growth, expansion, and influence within the industry. He is truly deserving of this honor.”
While Damiano is committed to organic growth, he also seeks a careful balance between organic expansion and M&As. During his tenure as managing partner, he has successfully overseen eight acquisitions. The emphasis on company culture still exists through this process, as all M&A partners must reflect SAX’s culture, understand each client’s vision and provide solutions that exceed expectations while helping assure success. For example, under Damiano’s leadership, SAX has greatly expanded the high-end specialized tax services with the addition of lateral partners in the Trusts & Estate, High-Net-Worth Individuals, State and Local Tax, Tax controversy, Federal Tax Credits and Incentives, and iTax specialties.
To expand from strictly compliance services to overall consulting services, Damiano implemented service line progressive-thinking practice areas that address growing client needs in every aspect of their lives and businesses. This includes but is not limited to Investment Banking, Transaction Strategy & Transformation, Strategic Business Transformation, Fractional Finance / Outsourced CFO, HR Consulting, Cybersecurity and Managed IT. He formed an Innovation Committee to support the growth and innovation of the firm and create opportunities that are critical to sustaining a healthy firm culture, attracting and retaining exceptional talent, and rising above competition.
Under Damiano’s direction, SAX has also optimized technology to better serve clients. The most recent example is initiating the process to build a new digital roadmap to harness the power of AI for enhanced productivity, efficiencies and scalability for the firm.
Read more here: America’s Top 200 Accountants
