Professionals on the Move is a collection of brief staffing, promotion and leadership announcements from around the profession.
Nick Florio Joins UHY to Expand Staffing Practice
UHY LLP recently announced that Nick Florio has been hired as Co-Leader of the firm’s Staffing Practice in its Northeast region. Based in UHY’s New York office, Florio advises clients on a range of public accounting issues across staffing, wealth management and M&A, among other specialties.
With over 35 years of experience providing accounting services for public and private companies, Florio has successfully guided clients through all facets of strategic planning to help them make critical decisions while ensuring transactions are tax efficient and seamless. His background also includes extensive knowledge and experience in business valuations and due diligence.
Prior to joining UHY, Florio was a senior partner at a top 25 accounting firm, where he served as part of the firm’s Executive Committee for over 25 years.
Florio is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants and is a licensed CPA in the state of New York. He holds a BBA in accounting from Pace University.
For more information about UHY, please visit www.uhy-us.com.
Avantax Welcomes Financial Advisors Heidi and Nicholas Irwin, Longtime Fixtures of the Lockhart, Texas, Community
Avantax® Inc., a leader in tax-focused financial planning and wealth management, recently welcomed Heidi and Nicholas Irwin, married advisors who transferred to Avantax after many years of affiliation with Edward Jones, where the couple report having managed more than $250 million in total client assets, as of March 20, 2024*. The couple joins current Avantax affiliate Alliance Wealth Strategies LLC.
Heidi Irwin joined her father’s financial planning practice in 2014, decades after he started it in the Central Texas town of Lockhart, known as “The Barbecue Capital of Texas.” Nicholas joined the family business in 2020. The couple chose to transfer to Avantax because they were attracted to the flexibility of the independent financial advisor model and having access to, and the support of, experts in the Avantax Home Office, especially to provide clients with solutions for complex cases.
Having been part of a family-owned business for many years, personal relationships are key to Heidi and Nic, and they said they’ve seen that reflected in the culture of the Avantax Community.
Nic Irwin said his passion for supporting financial planning with investment research and data analytics fits well with Avantax’s emphasis on tax-intelligent planning.
Crowe welcomes and celebrates 52 new partners and principals
Crowe LLP, a public accounting, consulting and technology firm, has elected the following 52 new partners and principals to the partnership, effective today.
“On behalf of our management committee, our Board, our partners and the entire firm, I am very proud to congratulate each one of our new partners on this momentous career achievement,” said Crowe CEO Mark Baer.
Tomas Birriel Michelle Blackstock Jessica Boilard Kathryn Bostick John Chen Connor Doyle Patrick Higgins Ben Ilnicki Christa Jaganath Kevin Kerswick Justin Kuo Jenna Liao Allison Minnis Brennan Nagle Megan Rangen Kate Rudner Elizabeth Sav Chad Schenkel Jeffrey Schermerhorn Vikas Sharma Erin Twitchell
Brandon Barrientos Cary Black Matt Brown Tim Daum Andrew Eisinger Holly Hinz-Martin Helen Ho Brandon Holland Mike Keil Chris Kobylewski Bonnie Laughlin Nila Loveall Matt Marek Jennifer McMahan Leah McQueeney Elizabeth Preng Kaylee Prescott Zach Robbins
Eric Bunner Jay Fogelson Glendon Haney Tom Hoffman Maria Mora Bo Qiu Jacob Rivkin Kristen Sharpe Morgan Strobel
Lauren Beslow (Firm Risk Management) David Feinberg (Finance) Rachael Gibson (Talent Solutions) Doug Knoch (Office of Corporate Development)
KPMG U.S. Chair and CEO Paul Knopp to Helm CAQ’s Governing Board
Paul Knopp, KPMG U.S. Chair and CEO, has been elected Chair of the CAQ’s Governing Board, effective April 1, 2024.
The CAQ’s Governing Board is comprised of a variety of leaders representing the financial reporting ecosystem, including chief executive officers from some of the largest public company audit firms, the American Institute of CPAs, as well as independent board members from investor, board member and issuer communities. The Governing Board oversees the CAQ’s strategic agenda and activities.
Knopp succeeds Tim Ryan, US Senior Partner at PwC. “Tim has been instrumental in leading the CAQ to help address some of the most important issues impacting our profession, from the talent pipeline to helping the profession lead the way in emerging areas of corporate reporting like climate and cybersecurity,” said Lindsay.
Mazars in the US Hires Ryan McLaughlin as Partner
Mazars, a leading audit, tax and advisory firm in the US, recently announced that Ryan McLaughlin has joined as an Audit Partner in the Long Island Office. With over 16 years of experience working in accounting, audit and business advisory with both private and publicly held clients, Ryan will contribute to growth across multiple service lines, particularly in the Long Island market.
Throughout his career, Ryan has led audit teams serving the needs of clients across varied industries, including pharmaceutical, retail and consumer products, manufacturing and distribution, software and technology, and professional services.
Ryan joins the firm from BDO, where he began his career and was appointed to Partner in 2021. In addition to his client work, he was involved in nearly every aspect of BDO’s people development programs and seeks to continue his mentorship efforts with Mazars team members at all levels.
Ryan received a Bachelor of Business Administration (BBA) in Accounting from Siena College (NY) and is a member of the American Institute of Certified Public Accountants and the New York Society of Certified Public Accountants.
From selling garbage bags door-to-door as a child to becoming a billionaire tech pioneer and beloved “Shark,” Mark Cuban’s journey embodies the American entrepreneurial spirit. His straight-talking approach and business acumen have made him one of the most recognizable business figures of our time.
Early Life and Education
Born in Pittsburgh on July 31, 1958, to working-class parents, Cuban learned the value of hustle early. His grandfather, a Russian immigrant, sold merchandise from the back of his car—perhaps planting the entrepreneurial seed that would define Cuban’s future.
After graduating from Indiana University in 1981 with a degree in business, Cuban didn’t follow a traditional career path. Instead, he moved to Dallas with just $60 in his pocket, sleeping on the floor of a friend’s apartment while working as a bartender.
Building His Fortune
Cuban’s first major success came in 1990 when he sold his computer consulting firm, MicroSolutions, for $6 million. However, his true financial breakthrough arrived during the internet boom of the 1990s. Cuban and his business partner Todd Wagner founded Broadcast.com, an internet radio company that streamed audio of sports events and other content.
In 1999, Yahoo acquired Broadcast.com for $5.7 billion in stock—a deal that instantly made Cuban a billionaire and cemented his place in tech history.
The Dallas Mavericks Era
In 2000, Cuban purchased a majority stake in the NBA’s Dallas Mavericks for $285 million. Under his passionate and sometimes controversial leadership, the team transformed from a struggling franchise into NBA champions in 2011.
Unlike traditional team owners, Cuban sits courtside at games, openly criticizes referees, and maintains close relationships with players. His hands-on approach revolutionized NBA ownership culture and turned the Mavericks into a billion-dollar franchise.
Beyond Business: Media and Philanthropy
Cuban’s charismatic personality made him a natural fit for television. Since 2011, he has been a main investor on ABC’s “Shark Tank,” where his no-nonsense approach and investment savvy have helped launch numerous successful startups.
Behind the public persona lies a dedicated philanthropist. The Mark Cuban Foundation supports various causes, including entrepreneurship programs for at-risk youth and research into treating rare diseases. Following the COVID-19 pandemic, Cuban launched Cost Plus Drugs, aiming to dramatically reduce prescription medication prices for millions of Americans.
Looking Forward
Today, Cuban continues to disrupt industries through his forward-thinking investments in AI, cryptocurrency, and healthcare. Despite his billions, colleagues describe him as remarkably approachable and genuinely passionate about helping entrepreneurs succeed.
Cuban remains focused on making healthcare more affordable through Cost Plus Drugs and exploring new frontiers in digital technology. His commitment to transparency in business practices and creating opportunities for others forms the cornerstone of his ongoing legacy.
For aspiring entrepreneurs, Cuban’s advice remains consistent: follow your passion, outwork the competition, and always be learning. As he often says, “Work like there is someone working 24 hours a day to take it all away from you.”
Mark Cuban’s journey from selling garbage bags to building a multi-billion-dollar empire proves that with determination, innovation, and a willingness to challenge the status quo, extraordinary success is possible.
Quantum computing is rapidly emerging as one of the most transformative technologies of the 21st century. Unlike classical computers, which use bits to process information as either 0s or 1s, quantum computers leverage qubits, allowing them to exist in multiple states simultaneously. This property, known as superposition, along with entanglement and quantum tunneling, enables quantum computers to solve complex problems exponentially faster than traditional systems. As this technology advances, industries across the board are exploring its potential to revolutionize computing, security, and data processing.
Real-World Applications of Quantum Computing in Industries
Several industries are already benefiting from quantum computing’s capabilities. In healthcare, quantum algorithms are accelerating drug discovery by simulating molecular structures at an unprecedented scale, significantly reducing the time required for pharmaceutical research. Financial institutions are leveraging quantum computing to optimize trading strategies, portfolio management, and risk assessment. In manufacturing, quantum simulations enhance material science, leading to the development of stronger and more efficient materials. The logistics sector is also utilizing quantum computing to optimize supply chain management, reducing operational costs and improving efficiency.
Key Developments from Tech Giants in Quantum Research
Leading technology companies such as Google, IBM, Microsoft, and Intel are at the forefront of quantum computing research. Google made headlines with its claim of achieving quantum supremacy in 2019 when its quantum processor completed a calculation in 200 seconds that would take a classical supercomputer thousands of years. IBM continues to advance its quantum computing roadmap with cloud-accessible quantum computers and the development of a 1,000-qubit processor. Microsoft is investing heavily in topological qubits, a novel approach aimed at creating more stable quantum processors. Meanwhile, Intel is working on silicon-based quantum chips, striving to make quantum computing more scalable and accessible.
Quantum Cryptography and Its Potential to Redefine Security
As quantum computers advance, they pose a significant threat to current encryption methods. Traditional cryptographic techniques, such as RSA and ECC encryption, rely on the difficulty of factoring large numbers, a challenge that quantum computers can overcome almost instantly. Quantum cryptography, particularly quantum key distribution (QKD), offers a solution by leveraging the principles of quantum mechanics to create theoretically unbreakable encryption. Governments and cybersecurity firms are actively researching post-quantum cryptographic solutions to safeguard sensitive data against potential quantum attacks.
Challenges in Scaling Quantum Technologies
Despite its immense potential, quantum computing faces several challenges before it can become widely adopted. One of the biggest hurdles is qubit stability, as qubits are highly sensitive to environmental disturbances, leading to errors in computations. Error correction mechanisms are still in their early stages, requiring significant advancements before quantum computers can handle large-scale, practical applications. Additionally, quantum hardware is expensive and requires extreme cooling conditions, making commercialization difficult. Researchers and tech companies are actively working on solutions to address these challenges, but widespread implementation remains years, if not decades, away.
Conclusion
Quantum computing is poised to revolutionize industries by solving complex problems beyond the reach of classical computers. From pharmaceutical research and financial modeling to secure communications and logistics optimization, its applications are vast and transformative. However, challenges related to scalability, stability, and cost must be addressed before quantum computers can become mainstream. With continued advancements from tech giants and research institutions, the future of quantum computing holds immense promise, paving the way for groundbreaking innovations in computing and security.
In a strategic move to diversify revenue streams and enhance user engagement, Reddit CEO Steve Huffman has unveiled plans to introduce paid subscriptions for select subreddit content by the end of 2025. This initiative aims to offer exclusive, subscriber-only content within certain communities while maintaining the platform’s foundational free access.
During a recent “Ask Me Anything” session, Huffman described the paid content model as a “work in progress,” emphasizing its significance as one of the “new, key features” slated for rollout this year. He reassured users that the introduction of paid subreddits would not compromise the availability and growth of free content on the platform. This approach seeks to balance monetization efforts with Reddit’s commitment to open access, ensuring that the core user experience remains intact.
In addition to paid subscriptions, Reddit is exploring the development of marketplace features within subreddits. This would enable users to conduct transactions directly on the platform, facilitating the buying and selling of goods and services without the need for third-party platforms. Such a marketplace could significantly enhance user interactions and create new monetization avenues for both Reddit and its users. However, Huffman noted that this aspect of monetization is still under development and may take time to fully implement.
These strategic initiatives come in the wake of Reddit’s financial performance in 2024, where the company reported a net loss, prompting a reevaluation of its monetization strategies. Despite the financial setback, Reddit experienced a 39% increase in daily active unique visitors, totaling 101.7 million users. This growth, although slightly below market estimates, underscores the platform’s expanding user base and the potential for monetization through diversified offerings.
Reddit’s foray into paid content and on-platform transactions reflects a broader trend among social media platforms seeking sustainable revenue models beyond traditional advertising. By introducing exclusive content and facilitating user-driven commerce, Reddit aims to enhance user engagement, attract new audiences, and provide content creators with opportunities to monetize their contributions. As these plans unfold, the platform will need to navigate potential challenges, including user reception and the integration of new features, to successfully balance monetization with its community-driven ethos.