Loss of partner at accounting firm Greenwalt Sponsel results in new name

Greenwalt Sponsel & Co. Inc. has changed its name to Greenwalt CPAs, following the departure of a top partner from
the Indianapolis-based accounting firm.

Tom Sponsel launched Sponsel CPA Group in September and is leasing 10,000
square feet of office space at the Gateway Plaza building at 950 N. Meridian St.

A disagreement over the direction
of Greenwalt Sponsel’s succession plan led Sponsel to leave, he said following his exit.

Current Greenwalt
Managing Partner Larry Greenwalt acknowledged Sponsel had been expected to succeed him as the firm’s leader in January
2011. But he said in September that Sponsel failed to deliver on certain commitments and even contemplated leaving the firm.

Before Sponsel’s departure, Greenwalt had 31 certified public accountants and 59 full-time employees, ranking
it as the 11th-largest accounting firm in the city, according to the most recent IBJ statistics. Sponsel took at
least three partners with him.

Greenwalt’s origins date to 1945. It had been known as Greenwalt Sponsel since
1987.

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: IBJ is now using a new comment system. Your Disqus account will no longer work on the IBJ site. Instead, you can leave a comment on stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Past comments are not currently showing up on stories, but they will be added in the coming weeks. Please note our updated comment policy that will govern how comments are moderated.