UHY Advisors named Steven McCarty as its new chief executive officer Wednesday, effective Jan. 1, 2019, succeeding longtime CEO Tony Frabotta, who will remain chairman of the Chicago-based Top 100 Firm.

McCarty has been leading UHY’s Corporate Finance business and was industry service leader of UHY’s Professional Employer Organization practice. He’s also a member of UHY’s board of directors in addition to the Michigan Region Executive Committee.

McCarty began his career 27 years ago in UHY’s tax department, moved later to the audit practice and eventually chaired the firm’s Transaction Services and Corporate Finance Group. He is both a CPA and CMA. “I am grateful to our board for putting their trust in me to lead UHY’s national operations,” McCarty said in a statement. “Our firm is growing while the accounting profession as a whole is consolidating.

“Steve has been with UHY nearly 27 years and has proven himself as an exceptional colleague, industry professional and leader within the firm,” Frabotta said in a statement. “Steve has been a trusted confidant to clients and an active participant in the local communities which UHY serves. As the leader of our Corporate Finance practice, he has been instrumental in building that service line and participating in hundreds of middle-market transactions. We are proud to have Steve step up and lead UHY’s innovation and growth on a national level.”

Frabotta has served as co-CEO or CEO nationally at UHY for more than 10 years and has been running the firm’s Michigan practice for over 20 years.

“Tony Frabotta has done a masterful job building UHY partner unity and creating a strong marketing mentality,” said McCarty.

McCarty advises clients on tax, audit and business consulting and has handled various kinds of business transactions, including deal negotiations, buy and sell side strategy, financial analysis and modeling, tax strategies, due diligence, quality of earnings reports, valuations and financing.

He plans to keep extending the firm’s footprint. Last week, UHY acquired Flynn, Walker, Diggin CPA PC, a firm in Saratoga Springs, New York, and it merged in May with Del Conte, Hyde, Annello Schuch in Farmington, Connecticut. In January, UHY expanded in Raleigh, North Carolina, with the acquisition of Bright Point Consulting. The firm is part of the UHY international network.

“I look forward to focusing on the development of our associates and expanding our UHY footprint,” he said. “UHY has a solid middle-market reputation and when coupled with our international reach, we are uniquely positioned to grow around the U.S. and abroad.”