With your help and support, I am pleased to announce that we had another incredible year at Stout. Throughout 2019, we continued to build on our successful long-term track record. Our firm expanded on many fronts, our expertise continued to shine, and our client base remained robust. These accomplishments all stem from our team’s tireless, relentless pursuit of excellence and strict adherence to our team-oriented core values of being Positive and Team-Oriented, Accountable, Committed, Entrepreneurial, Relationship-Focused, Super-Responsive, and Great Communicators.
Our global reach continues to grow. We strengthened our presence in Europe by opening new offices in Berlin and Milan in 2019 and London, effective January 2020. We also expanded our domestic reach with our new San Francisco location. These additions round out our footprint to 24 offices across the world.
We had record revenue growth, as well, with a year-over-year increase of nearly 21%. Our team’s dedication to outstanding client service drove this success, backed by longstanding client relationships, commitments from new clients, and numerous high-profile engagements. In addition, our core service areas of Investment Banking; Transaction Advisory; Valuation Advisory; Disputes, Compliance, & Investigations; and Management Consulting expanded their revenue and client base. Within these core service areas, we also launched several new practices, including Artificial Intelligence & Digital Transformation, Transformative Change Consulting, and Technical Accounting.
None of these accomplishments could have happened without developing and expanding our talent base. We continue to build on our comprehensive training and mentoring programs to prepare our team members to take the next steps in their careers, and our robust recruiting process has brought in topnotch talent from outside of Stout. We highlight in this report our new senior team members and our recently promoted colleagues – the largest-ever number of professionals promoted at Stout in a single year. In addition, we partnered with PGA golfer Sam Ryder as one of our brand ambassadors. Like our many colleagues at Stout, Sam embraces the firm’s core values. The perseverance he has demonstrated early in his career exemplifies Stout’s brand promise of Relentless Excellence. When Sam is not competing on the PGA Tour, I hope you can meet him at one of our many client events this year.
I continue to be most appreciative of our hundreds of colleagues who demonstrate the excellence within our firm and go beyond expectations. Whether it is a client engagement, industry event, charitable cause, or nonprofit board membership, our extraordinary people make great things possible at Stout. On behalf of all the extremely dedicated team members at Stout from around the world, I look forward to more outstanding things to come in 2020.