Interview with Thomas Milburn, CEO at YHB

Summary

YHB is in the midst of a five-year strategic plan focused on becoming a leading workplace with a team-first culture, embracing leading technology, providing industry-leading expertise, and being socially and sustainably responsible.
YHB is expanding its market presence in the DC Metro region by filling a gap and need for clients, leveraging technology to enter new markets, and offering a different experience than other firms.
YHB is exploring new industry sectors, with a focus on expanding its client accounting and advisory services. The firm’s key industries include financial institutions, architecture, engineering construction (AEC), not-for-profit, and healthcare.
The company is focused on staying independent and growing both organically and through strategic acquisitions.
They have a robust recruiting and retention program to address the shortage of accountants.
The future of accounting is evolving with automation, AI, data analytics, and a more tech-savvy workforce.
The firm has embraced the use of AI and sees it as a tool that can enhance both the client and staff experience.
They are actively looking for opportunities to use AI to improve their practice and are not shying away from it.
The firm’s leadership team has taken a lead in embracing AI and has seen improvements in day-to-day operations.

Tom is YHB’s CEO and leader of the Firm’s strategic initiatives. He began his professional career at YHB in 1997, with a bachelor’s degree in liberal arts and sciences as well as a Master of Accountancy degree, both from Virginia Tech. He is a member of the American Institute of Certified Public Accountants and the Virginia Society of Certified Public Accountants.

Experience

For years, Tom has dedicated his practice to providing accounting, auditing, advisory and tax services to financial institutions throughout the East Coast. A leader of our Financial Institutions Team, he regularly speaks at industry events and leads trainings throughout the region. Tom has previously served on the VSCPA Board of Directors, and now sits on their Nominating Committee.

Internally, Tom has served on YHB’s Diversity Council, Innovation Committee, Human Resources Committee, and Board of Directors. As he transitioned to CEO, Tom now oversees the management and leadership teams at YHB. His hands on, people first approach allows him to drive innovation while continuing to position YHB as a leading Firm in the region. Tom regularly travels to all YHB’s offices to engage with team members and understand the nuances of each location. He is actively involved in leadership roundtables and CEO programs.

Other Interests

In his free time, Tom enjoys traveling and camping with his wife and two adult children. His hobbies include running marathons and playing golf. He is active in the community volunteering with temporary housing not-for-profits and serving food to those in need.

Connect with Thomas on LinkedIn

Interview questions:

Introduction | You were appointed CEO of YHB on October 1, 2023. What is your strategic vision for YHB?

Market Presence | How is YHB’s market presence expanding in the region?

Niches | Are there any new industry sectors or niches that YHB is adding?

Mergers | During your predecessor Scott Moulden’s leadership, YHB merged with 5 other accounting firms. Are there any potential mergers?

Recruitment | The dire shortage of accountants and the challlenges of recruiting were recently highlighted in a Wall Street Journal article How is YHB addressing these issues and challenges?

Future of Accounting | What is the future of accounting?

At YHB, we are all about you. That is why we take a holistic approach to assisting clients with growing, managing, and protecting their hard work. We partner with many of the region’s most trailblazing and passionate leaders and organizations. Our team offers comprehensive advisory, assurance, tax, wealth management & risk advisory solutions to clients of all sizes.