Hagaman has had a hand in leading Withum as part of its management team for more than 35 years, including more than a decade as CEO and managing partner. Probably his biggest move from the past year is one that won’t go into effect until 2023: his exit from that top post. Withum announced Hagaman will step down when his term ends next year. The move, he said, is bittersweet. “However, we must make room for the future generation of leaders, and I am confident my successor has all of the skills required to keep Withum moving forward as a major firm in our great profession.” That successor is Withum Partner Pat Walsh, who serves as market leader for the National Tax Services practice. But just because his time at the helm of the company is coming to an end, it doesn’t mean Hagaman is slowing down. In 2022, the firm was named a Top Accounting Firm by Accounting Today, boasting a 24.05% increase in revenue over the year prior.
Hagaman has been recognized for his contributions as well in the past year, becoming the first graduate to receive the Outstanding Alumni Award from Stockton University School of Business for his endowment of its First-Generation Student Endowed Scholarship. Last fall, the New Jersey Chamber of Commerce recognized him as a “Business Advocate of the Year.” Just days before that, Withum – which has 17 offices and more than 1,300 professionals – announced it would acquire Mendham’s Masffei, Massiello & Co. Announcements that three more firms would join their practice with Withum were made before the end of the year.
Hagaman commented on that growth at Withum’s Annual State of the Firm Event in January. “Our firm is growing, and that’s something we’re eager to celebrate,” he said. “Great things happen when people from different backgrounds, cultures and skills come together, and that’s what One Withum is about.” The firm is keeping up with the times, as well, as evidenced by its establishment of an ESG practice in the past year, and with the launch of a program to reimburse up to 25% of eligible child care provider expenses. The firm has been recognized for its efforts to create and foster an inclusive environment: earning a score of 100 on the Human Rights Campaign Foundation’s 2022 Corporate Equality Index and scoring a 90 on Disability:IN’s 2021 disability equality index, qualifying it as a DEI Best Place to Work during its first year participating in the program. Over the past 12 months, the firm also received accolades for its internship program, and more recognition for the services it provides. Forbes named Withum to its America’s Best Tax and Accounting Firms 2022 list – it had previously been recognized for the former and added the latter distinction this year – and Construction Executive identified it in the Top 15 on its Annual Top Firms List.