October 31, 2020

Andersen Poaches Someone From KPMG and Issues a Press Release, Part I

Arthur Andersen & Co.

Oh look, Andersen hired someone from a Big 4 firm who didn’t work for Arthur Andersen earlier in their career, unlike this guy.

Andersen welcomes Edward Schulte as a Managing Director in the San Francisco office as part of the Alternative Investment Funds (AIF) practice. Edward has 18 years of experience in public accounting and specializes in the taxation of hedge funds.

“I am excited to have Edward join our team in San Francisco. He brings a great deal of expertise in the taxation of financial instruments including advising companies on issues related but not limited to wash sales, short sales, constructive sales and reportable transactions,” said U.S. Country Managing Director, Dan DePaoli.

“Edward’s expertise in the taxation of financial instruments and advising companies on partnership structuring matters is a great addition to our AIF practice,” said Frank Cassidy, Office Managing Director of the San Francisco office. “His knowledge of hedge, venture capital and mutual funds will help to strengthen the practice in our office.”

Before joining Andersen, Edward was a Partner at KPMG in the alternative investments practice. He was also a Principal with Rothstein Kass.

Edward received his Bachelor of Arts degree in Accounting and Economics from Augsburg University and his Master of Business Taxation from the University of Minnesota.

Edward Schulte

What the press release failed to mention was that Rothstein Kass was a two-time Going Concern March Madness “Coolest Accounting Firm” winner. It was undoubtedly RK’s biggest achievement in its 55-year history.

Schulte wasn’t one of the Rothstein Kass employees who got the hell out after the firm was acquired by KPMG in late May 2014. In fact, that was his second stint with KPMG, as he worked there from 2003 to 2008, moving his way up the ladder from associate to senior associate to tax manager on mutual fund, hedge fund, and private equity engagements, according to his LinkedIn profile.

In between his time at KPMG and Rothstein Kass/KPMG, Schulte worked at EY for a few years as a senior tax manager in the National Asset Management Practice, where he provided consulting and compliance services to hedge, private equity, and mutual funds.

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