CENTURY OF SERVICE
Ex- PM’s practice still strong and local
A TOWNSVILLE accounting practice founded by a former prime minister is marking its centenary, culminating with an event for current and former staff later this month.
AW Fadden & Co, now the privately owned PVW Partners, was established by the Ingham- born former Australian prime minister and Country Party leader, the late Sir Arthur “Artie” Fadden, in Townsville in October 1918.
It is also 77 years this month since the Coalition government led by Sir Arthur for just 39 days was forced to resign after losing a vote on the floor of parliament.
Sir Arthur established AW Fadden & Co, later taking on a partner Fred Sutton.
He had previously served as town clerk at the Mackay council, while later he was also councillor on Townsville council, which helped to launch his political career.
In 1968, at a time of expansion by the big accounting firms, Cooper Bros & Savage, subsequently Coopers & Lybrand, took over the Townsville operation. Later, as part of a worldwide merger with Price Waterhouse in 1998, the Townsville firm operated as an office of Pricewaterhouse Coopers.
In 2016, when the big firms were withdrawing to financial centres, the PwC Townsville leadership team – Greg Peel, Carl Valentine and Andrew Whitehead – bought the practice back, returning it to local ownership.
Mr Peel said while there had been quite a few iterations of the firm along the way, some things were a case history repeating itself.
“From Sir Arthur Fadden and Fred Sutton, to Coopers and Lybrand, Price Waterhouse and then Pricewaterhouse Coopers, our story has been one of evolution,” Mr Peel said. “But today we are back where it all began. A truly local firm, with our ( motto and) focus on ‘ Regional Australians Growing Regional Australia’,” Mr Peel said.
With a client base of over 500 and 35 staff, PVW Partners is now the largest locally owned accountancy and advisory firm in Townsville.
“I think one of the secrets to our success and longevity has been our focus on locals supporting locals,” Mr Peel said. “Ultimately, we are as committed to the success of an individual or family as they are because while their busi- ness depends on it, so does ours.”
Townsville accountant John Lyons merged his business with the firm in 1983, while his father also worked with AW Fadden & Co.
“My Dad, Murray Lyons, joined AW Fadden & Co before serving in PNG during the Second World War. When my dad became very ill, “Artie” Fadden, treasurer of Australia at that time, flew up to Townsville to see my mum and dad.
“He was such a decent fellow and took the time to assure mum what a good bloke she married,” Mr Lyons said.
“In 1985, I remember being instrumental in inviting Greg Peel to consider joining us from the ATO. He first clocked in at Price Waterhouse, which from there merged to become Pricewaterhouse Coopers, and now to PVW Partners.”
The firm has marked the anniversary with staff functions and is planning a larger event on October 26 with the many people who have worked for the firm.
Mr Peel said they were passionate about their local connections.
They wanted to double the size of the business by 2021.
“PVW Partners will soon be opening a new office in Innisfail and everything really is on the table when it comes to the future. We are incredibly excited about this next chapter,” Mr Peel said.
I THINK ONE OF THE SECRETS TO OUR SUCCESS AND LONGEVITY HAS BEEN OUR FOCUS ON LOCALS SUPPORTING LOCALS.
GREG PEEL