Councilor, Buchanan & Mitchell (CBM) has named Peter B. Reilly, CPA, CVA as the firm’s new chairman of the board of directors, effective January 1, 2021. Mr. Reilly, who has served as CBM’s president and managing partner since 2013, succeeds Patricia Drolet, CPA, PFS, who served in this capacity since January 1, 2019.
During his presidency, Reilly oversaw the significant growth of CBM, the expansion of existing service lines and the addition of new practice areas through a series of DC-area acquisitions. In 2014, CBM integrated Drolet’s Washington, DC-based firm, Drolet & Associates, expanding the firm’s footprint in the not-for-profit and professional services industries. Subsequent mergers included with May & Barnhard, a Bethesda, MD-based tax and financial consulting practice, May Barnhard Investments, which now serves as CBM’s financial and investment advisory arm, and Chaconas & Wilson, a DC-based tax practice.
During Reilly’s presidency, CBM also grew from less than 50 staff to a team of more than 100, greatly expanded the diversity of its team including at the leadership level, and began offering personal financial planning and divorce litigation services. CBM has been recognized by the Washington Business Journal as one of the top 25 accounting firms in the Washington, DC region for the past thee years, and by the Accounting and Financial Women’s Alliance as a top equity firm for leadership based on the greatly increased number of women partners.
“It has been thrilling to lead CBM’s rapid expansion over the past seven years,” said Reilly. “I look forward to taking on new responsibilities as chairman of the firm’s board and supporting Dan Weaver through our transition. I am fortunate to be able to collaborate with such a talented leadership team.”
In addition to Reilly, CBM’s executive committee includes incoming president and managing partner Dan Weaver, Tax Practice Director Richard Morris and Financial Planning Practice Director Debbie May.
“We look forward to Pete’s ongoing leadership in his new capacity as CBM board chair,” said Drolet. “CBM has continued to expand its presence throughout Bethesda and the Washington, DC metropolitan region, and the firm’s reputation remains as strong as ever. It’s been an honor for me to serve as board chair, but I know the firm will accomplish great things in the coming years.”
CBM is also in the midst of celebrating its 100th anniversary in 2021, and Reilly has helped shape the course of ongoing celebratory activities including an upcoming gala, the publication of a centennial book, charitable activities (click here to read more about our CBM100-Charities initiative) and the production of 100th anniversary merchandise.
Councilor, Buchanan & Mitchell (CBM) is a professional services firm delivering tax, accounting and business advisory expertise throughout the Mid-Atlantic region from offices in Bethesda, MD and Washington, DC.