Drinker Biddle’s Director of Growth Strategies for the CFO Alliance, Nick Araco, was mentioned in a recent Forbes article, titled, “CFOs Have Bigger Roles Than Ever Before – And They Like It That Way.” The article discusses the emerging trend of CFOs becoming company leaders.
In a survey of Fortune 1000 CFOs, 81 percent felt they worked at companies that viewed their finance operations as a “strategic business partner,” involving the CFO in top-level decision-making as never before. During the economic downturn, CFOs were given strategy and crises management responsibilities. The role of the CFO grew as a result and has yet to recede, even as business recovered.
Nick Araco has been tracking changing concerns of CFOs for almost a decade. In his role overseeing business consulting at McGladrey, an accounting and consulting firm, Nick received regular calls from CFOs wanting advice. In 2008, he founded the CFO Alliance, an organization that connects financial executives online and through events. The group now has more than four thousand members across the U.S.
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