Pat Walsh, a partner and market leader for Withum’s national tax service practice, will succeed Bill Hagaman as CEO and managing partner of the Princeton-based firm on Jan. 1, 2023, the firm announced Friday.
The transition was planned and expected.
Hagaman, the well-known and widely respected leader of Withum, has been in charge of the firm since taking over the managing partner role in 2010. Under his leadership, the firm has grown its revenue six-fold while expanding into a more national presence.
Hagaman redefined the firm’s growth strategy by segmenting the client base into industry verticals to enhance its go-to-market strategy, allowing the firm to branch out into nontraditional advisory services.
His biggest impact, however, may entail his impact on company culture.
Internally, Withum’s culture thrived — and is now well-known within the industry for its unique work environment centered around family-first values and what is known as the “Withum Way.”
Hagaman’s leadership inspired Withum team members to work hard and play hard, dancing and lip-syncing in their annual culture videos, while always encouraging philanthropy and personal growth alongside a commitment to being a catalyst for the growth and success of the firm’s clients.
“It is certainly bittersweet to begin planning the transition to my next professional stage,” Hagaman said. “When I joined Withum in 1980, I expected to stay five years as part of my own professional development plan and then move on elsewhere. What I discovered was I found a second home and family and remained here for 43 years.
“Withum is a part of my DNA. However, we must make room for the future generation of leaders, and I am confident my successor has all of the skills required to keep Withum moving forward as a major firm in our great profession.”
Walsh has over 30 years of public accounting experience, specializing in corporate taxation, income tax accounting, international taxation and tax structuring.
Hagaman has had impact statewide
Bill Hagaman has impacted New Jersey and the state business scene in many ways over the past decade.
He is a longtime executive committee member of the New Jersey Chamber of Commerce, among other roles. Last winter, he was one of seven — and the only CEO — to be honored as a Business Advocate of the Year.
He was given a national leadership award by Jobs for America’s Graduates after working tirelessly to raise more than $100,000 for the organization.
And he recently endowed a scholarship for first-generation students at Stockton University, his alma mater, which honored him as an outstanding alumnus from its business school.
A Seton Hall University graduate with an accounting degree, he also attended New York University, earning his MBA from the Stern School of Business.
Prior to joining Withum, Walsh was a managing member of his own firm, Walsh & Borresen, which joined Withum in March 2014. Walsh has been a member of Withum’s management since that union, giving him all the relevant and comprehensive experience to take on this new role.
Like Hagaman, Walsh believes in people-driven, forward-thinking leadership. Walsh believes that looking to the future inspires innovation, making world-class service the reality, not just the expectation. Walsh said fostering an environment that supports collaboration, inclusiveness and integrity are integral to his vision for the firm.
“I’m honored to have the opportunity to follow Bill to serve as the next managing partner of Withum,” he said. “I look forward to working with Bill over the next year to ensure a seamless transition.
“The success and growth we’ve achieved are a testament to the team members and leadership of our firm. Withum is and continues to be a platform for entrepreneurs that provides growth and opportunities for our people, our clients and our communities.”