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Eide Bailly Plans for New Managing Partner/CEO

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Elizabeth Stabenow

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At a glance, Eide Bailly provides 40,000 clients across the nation with quality audit, tax, accounting and business advisory services from 21 offices in 10 states.

Eide Bailly is honored to be ranked as one of the 10 best accounting firms in North America for quality of life issues and prestige in Vault’s Accounting Firms Rankings 2013: Vault Accounting 50 Report.

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Stende to Lead Firm as Topp Prepares to Retire

FARGO, N.D. — The partners of Eide Bailly elected Dave Stende, CPA, as managing partner/CEO-elect; he will succeed Jerry Topp, CPA, effective May 1, 2013. Topp, who is nearing retirement, plans to remain with the firm for a few years to work on M&A activities and special projects.

“I am both humbled and honored to be chosen by our partner group to lead Eide Bailly,” Stende commented. “Jerry has provided outstanding leadership during the past 10 years, as we have seen the firm triple in size. I plan to build on what he has done.”

When Topp accepted the managing partner/CEO role in 2003, the firm had $54 million in net fees, nine offices, 75 partners and 577 staff members. Today, the Top 25 CPA firm has grown to $158 million, 21 offices, 165 partners and 1,016 staff members. “The past 10 years have been an exciting ride,” Topp said. “Eide Bailly is a firm of the future and Dave has the knowledge and experience to make this a seamless transition. He has served as Eide Bailly’s COO for the past seven years and, during this time, we have worked as a team to build our firm and achieve our growth strategies,” he said.

Stende says he feels well prepared to take on the managing partner/CEO role. “I am ready and excited to take on the challenge of growing the firm, while maintaining our culture – which is the core of who we are,” Stende said. “Eide Bailly has experienced positive growth, even during the recent recession. To experience similar success in the future, we must continue to grow our footprint and enhance our service offerings in order to add value to our clients and to provide more opportunities for our people.” 

Stende has 31 years’ experience in public accounting, providing client services in the areas of auditing and consulting for a variety of industries. He was appointed chief operating officer (COO) in 2006, following one year as partner-in-charge of the Firm's Fargo, N.D., office. 

Topp has been in public accounting since 1978. He has held many leadership roles in his 35 years with the firm, serving as partner-in-charge of the Fargo, N.D., office from 1997 to 2000 and chief operating officer from 2000 to 2003, before being appointed managing partner/CEO in 2003.

Additional Elections
At Eide Bailly’s November Partnership Meeting, the partners also re-elected Linda Koerselman and James Lyons to the firm’s board of directors, both for three-year terms, commencing immediately.

Koerselman, CPA, has more than 31 years public accounting experience with an emphasis in financial institution taxation and consulting, closely held business and individual taxation, and small business consulting. She consults with banks regarding strategic planning issues, such as mergers and acquisitions, estate tax, holding company formations, stock redemptions and minority stockholder tender offers. Koerselman serves as the director of the firm’s financial institutions industry group.

Lyons, CPA, is responsible for managing and leading the firm’s six Colorado offices as partner-in-charge. Previously, he was the managing partner of Gordon, Hughes & Banks, LLP, which was acquired by Eide Bailly in 2008. Lyons specializes in accounting and income tax services, as well as closely held business consulting. He co-chairs the firm’s women’s initiative committee, known as First Focus. Lyons has been in public accounting for nearly 30 years.

About Eide Bailly LLP
Eide Bailly provides 40,000 clients across the nation with our core services of audit & assurance and tax, as well as expanded services, including accounting services, employee benefits, enterprise risk management, financial services, forensic & valuation, technology consulting, transaction services and wealth management. Eide Bailly has offices located in Phoenix, Ariz.; Boulder, Denver, Frisco, Golden, Grand Junction and Vail, Colo.; Boise, Idaho; Dubuque, Iowa; Mankato and Minneapolis, Minn.; Billings, Mont.; Bismarck, Fargo and Williston, N.D.; Norman, Oklahoma City and Tulsa, Okla.; Sioux Falls and Aberdeen, S.D; and Ogden, Utah.