BDO USA Launches ESOP Supported by Apollo Capital Debt Deal

Purpose-driven strategy gives participating U.S. employees shared stake in firm's success.

BDO USA, one of the nation's leading accounting and advisory firms, has announced its intention to establish an Employee Stock Ownership Plan (ESOP), providing a broad base of our employees the benefit of ownership and a new model for the firm's continued investment, growth and long-term sustainability. When effective, BDO would be the first large public accounting firm to implement an ESOP. With more than 10,000 participating employees, BDO would be among the largest ESOPs in the country.

"An ESOP is the realization of our purpose of helping people thrive, every day. It is a game-changer for our people, clients and communities, designed to improve lives for generations to come," said Wayne Berson, CEO of BDO USA. "Amid the changing landscape of our profession, the ESOP unlocks the value of our firm today and embodies our strategy to sustain a strong, caring and resilient business for tomorrow. We are proud to establish this ESOP to invest in each other so everyone who contributes to our success has the opportunity to benefit from it."