Grant Thornton pays tribute to Julius Feinstein – Doyen of the South African accounting profession (1916 – 2012)
26 March 2012 | Category: Corporate, News, People
Inextricably linked to the history of Grant Thornton South Africa, previously known as Kessel Feinstein, Julius Feinstein was a man who dedicated seventy-five years to our firm. He was a magnet whose energy and insights attracted the esteem and friendship of many of South Africa’s leading professionals and the giants of our country’s business world.
Such people include Liberty Life’s Donald Gordon and Sage’s Louis Shill as well as our firm’s successive national chairmen, namely Malcolm Segal, Ernest Mazansky and Leonard Brehm. Personally mentoring all of them, he nurtured their growth, influencing their respective careers as well as the family-like spirit that distinguishes our firm.
Julius Feinstein, formally addressed as Mr. Feinstein and fondly referred to as “JF” was an inspirational role model – revered for his wisdom, professional acumen and standards of client service. Yet he was a man, who despite his status was modest, patient and sincerely concerned about the wellbeing of others. His emphasis on integrity, responsibility, respect and compassion will always underpin our firm’s culture and values.” said Leonard Brehm, our former National Chairman.
A man with determination
Born in 1916 to Lithuanian immigrant parents, Julius Feinstein grew up in Johannesburg. After matriculating in 1933, the young Feinstein was determined to become a Chartered Accountant – a qualification which then took five years, with academic and practical training combined
He studied at the University of the Witwatersrand but did not start his articles simultaneously. The Great Depression impacted on the number of trainee positions available. Furthermore, his mind was set on joining one firm only. That being Isaacs & Kessel – a small but highly regarded firm which was established in 1920.
In 1933, the firm, Alder Isaacs, based in the Nederlandse Gebou in Johannesburg, consisted of merely two partners and Benjamin Kessel, six trainees (one of which was Julius Feinstein’s late brother) and two support staff.
At that time, the firm could not take on more trainees. However, after he spent a year doing odd jobs Isaacs & Kessel gave him the break he so desperately wanted. He joined the firm as an articled clerk on 2 January 1935, earning a salary of 4 pounds a month.
A man with talent
Feinstein qualified as a Chartered Accountant in 1939.
In recognition of his achievements and commitment, Julius Feinstein was rapidly promoted. At just twenty-six, he was made partner.
Not only was he an astute accountant but he had a talent for building life-long relationships with new clients. These included the law firm, Edward Nathan and the Glazer Family, both of which are still our clients today. Ten years later, the firm honoured his contribution by renaming the firm, Isaacs, Kessel, Feinstein. In 1964, following the retirement and the death of Benjamin Kessel, Julius Feinstein became the firm’s most senior partner, a position he was to hold for nearly forty years.
A man with vision
Julius Feinstein was a visionary. He aspired to expand the firm’s presence nationally and growing its capabilities and client portfolio. He also realised that being linked to an international association with a global organization was an essential step.
With Julius Feinstein at the helm, these goals were achieved. He was instrumental in pioneering mergers with other independent firms in Cape Town, Durban and Pretoria. He brought in more partners who offered a diverse spectrum of professional skills to a broad range of businesses, including listed companies. The result was: the formation of Kessel Feinstein South Africa – a firm reputed for its auditing and accounting professionalism, but also for its business advisory acumen. He also led the firm when it joined an international association.
In 1992, when celebrating his 50th anniversary as a partner, Julius Feinstein said, “I have never known another job. Leaving the profession never interested me. Being part of the firm’s growth has given me great satisfaction.”
Ten years later, having seen the fruition of his dreams for the firm, Julius Feinstein retired after 60 years as a partner but he remained on as a consultant.
Today, Grant Thornton South Africa employs over 871 people and has offices in Cape Town, Durban, Johannesburg, Port Elizabeth and Pretoria.
A man of with a social conscience
Outside the firm, Julius Feinstein played numerous other roles. For fifteen years he was treasurer of the South African Friends of the Hebrew University of Jerusalem. In 1999, the University honoured his dedication by establishing the Julius Feinstein Chair of Accounting.
Furthermore, he was a member of the Special Court for Hearing Income Tax Appeals; and in 1997, former President Nelson Mandela appointed him a member of the Diamond Commission.
A family man
Despite his commitment to his career, Julius Feinstein was a family man, devoted to his late wife, Muriel; his children Melanie and Alan, their respective spouses Clifford and Miranda, his three grandsons and great-grandchildren. They were his pride and joy.
A man of culture
As a man who always cherished the finer things in life, he was a regular golfer until well into his eighties. He was also an avid reader, loved classical music, especially Russian violinist, David Oistrakh. His greatest passion was South African contemporary art. While modest about his collection, which includes works by William Kentridge, Judith Mason, Edoardo Villa, Deborah Bell and Derrick Nxumalo, it’s reputed to be an outstanding private representation of contemporary South African art.
Related posts:
--Ends--
Notes to editors
You may quote freely from this publication, provided you acknowledge the source. This publication is an outline for information purposes and should not be relied upon for detailed planning. Readers are advised to consult professional advisors for guidance relating to new or existing legislation which might affect their business and personal decisions.
About Grant Thornton South Africa
Grant Thornton South Africa is a member firm of Grant Thornton International Ltd (Grant Thornton International). Grant Thornton South Africa was founded in 1920 (previously Kessel Feinstein). We are leaders in our chosen market, providing assurance, tax and specialist business advice to dynamic organisations – listed companies, large privately held businesses and private equity backed organisations.
We employ 673 people in South Africa with 76 partners and directors. Grant Thornton has a national presence with offices in Bloemfontein, Cape Town, Durban, Johannesburg, Nelspruit, Port Elizabeth, Pretoria and Rustenburg. South Africa is a major force in Africa, alongside 18 member firms on the continent. We operate in Algeria, Botswana, Egypt, Gabon, Guinea, Ivory Coast, Kenya, Mauritius, Morocco, Mozambique, Namibia, Nigeria, Senegal, Togo, Tunisia, Uganda, Zambia and Zimbabwe and are ideally positioned to facilitate clients’ expansion plans in these countries.
About Grant Thornton International Ltd
Grant Thornton is one of the world's leading organisations of independent assurance, tax and advisory firms. These firms help dynamic organisations unlock their potential for growth by providing meaningful, actionable advice through a broad range of services. Proactive teams, led by approachable partners in these firms, use insights, experience and instinct to solve complex issues for privately owned, publicly listed and public sector clients.
Over 35,000 Grant Thornton people, across more than 100 countries, are focused on making a difference to clients, colleagues and the communities in which we live and work.
Grant Thornton International and the member firms are not a worldwide partnership. Services are delivered independently by member firms, which are not responsible for the services or activities of one another. Grant Thornton International does not provide services to clients.
Grant Thornton International is the fastest growing global accountancy network and has recently been awarded 2013 'Network of the year’ by The International Accounting Bulletin (IAB). The International Accounting Bulletin awards are designed to celebrate accounting achievements over the past year by emphasising the individuals and businesses that have moved the industry forward. To win the ‘Network of the Year’ award, firms had to demonstrate strength across a number of key areas which included evidence of top-level network-wide audit quality, a strengthened position in strategically important markets and a strong industry leadership.
Comments
2 persons spoke out on "Grant Thornton pays tribute to Julius Feinstein – Doyen of the South African accounting profession (1916 – 2012)"
Speak out
Tell us what you're thinkingBookmark and share
Share and save this post with others by posting this to your favorite social media sites (Facebook, Linkedin, Twitter, Digg, Delicious, etc.)
Messages of condolences received via email
26/03/12
Dear David,
I am sorry to hear your news. Julius was one fo the leading lights in the South African profession.
He will be sorely missed. Please add my sincere condolences to those many others that I am sure will flood in at this sad time.
With my deepest respect.
Jon Geldart
Global Head Marketing Communications, Grant Thornton International
26/03/12
Dear Team Grant Thornton, I have just learned of the sad passing of Julius Feinstein.
Julius was a giant in his profession & a true professional in every respect. He will be missed by all that had the privilege of knowing him. He instilled a unique culture into the firm, a culture so capably carried out by you his partners. I convey to you, his partners my sincere condolences. Please be so kind as to convey the same message to his family.
Best regards
Colin Datnow, Interbrand
26/03/12
Dear David, I am sad to hear these news.
Julius has been the brain and soul of the firm. I am sure he will be missed greatly by all those who knew him.
Gernot Hebestreit, Global leader business development and markets, Grant Thornton International
26/03/12
Julius Feinstein’s death is indeed the end of an era.
I remember him well and recall times with the other founding partner Mr Kessel and my late Father, Louis Jacobson, who was a client of his in the 1950s. In fact Mr Kessel gave me a watch for my Barmitzvah, which I would still use if it had not been stolen in a robbery of our house in the late 1980s.
I gathered that my Grandfather, Harris Jacobson, was one of Mr Kessel’s first clients. So there have been three generations of us as clients of Kessel Feinstein/GT, and late brothers of my Father and cousins of mine too. I think I may have mentioned all this before, but with Mr Feinstein’s passing it all springs back to me again…
All good wishes always,
Dr David Jacobson, Toronto
26/03/12
To the children, grand-children and great-grandchildren of Kessel Feinstein,
Please accept my sincere condolences on the passing of Julius Feinstein. He was a most wonderful man.
Wishing you long life.
Sincerely
Gerald Rubenstein, Chairman, Vestacor
26/03/12
David,
Thank you for letting me know. I did tell my dad the sad news news and he said that he always remembered his warm meetings with Julius in Frank’s office.
My dad sends his condolences to you all.
Regards,
Clive Brazg
27/03/12
Dear David,
So sorry to have read about the death of Julius Feinstein.
He was an amazing man who was blessed with a long life and a brilliant career. I still recall the wise counsel and advice he presented over my career at Liberty and the friendly and interesting lunches at his office with all my old friends at Kessel Feinstein.
He was so highly regarded and his passing marks the end of an era. Please send my deepest sympathy to the family.
Regards
Farrell Sher
27/03/12
Dear Mr Feinstein’s family
I have known and worked with Mr Feinstein for more than 30 years. He was a wonderful example and a great person. I will miss him dearly.
May he rest in peace.
Warm regards
Dot Wolfaardt, Grant Thornton Johannesburg
27/03/12
Dear Pamela,
It is with great sorrow that we heard of the passing away of Mr Feinstein. SAICA would like to express our deepest condolences to your firm and Mr Feinstein’s family at this difficult time.
Kindest regards
Matsobane Matlwa, CEO, SAICA
28/03/12
To Mr Feinstein’s Family
It was with great sadness that I read the message on Monday that Mr Feinstein had passed away.
In my years at Kessel Feinstein and then Grant Thornton, Mr Feinstein had become not only an institution, but also an inspiration. I will always remember him as a true gentleman, in all my years at the firm I had never heard him raise his voice.
Please accept my condolences. He will be greatly missed.
Kind Regards
Christelle Grohmann, Director, Grant Thornton Johannesburg
28/03/12
Dear Pam, Trust you are well.
It was with sadness that I read in the newspaper of the passing away of Julius.
He really was the doyen of the profession and someone who everyone looked up to and admired. An amazing man who dedicated his life to his family and the firm. Always so alert and up to date on current affairs and the affairs of clients who he still acted for, even in later years.
Please convey my sympathy to his dear family and to the Partners, Principals and Directors of Grant Thornton.
We all have fond memories of Julius, especially those of “us” who were part of the original National firm of Kessel Feinstein in South Africa, of which I was the only remaining Cape Town partner until my departure from the firm in 2008.
Regards.
Kenny Zaacks
28/03/12
Dear David
A great gentleman has passed on MHDSRIP. Thank you for giving me the news.
Best wishes
Basil Landau
29/03/12
Hi David
Thanks for the notice regarding the passing of Julius Feinstein. He was a great person and despite his severe demeanour he was a real mensch. He was a special person for me and and was a huge asset for the firm. We had good times together and he will always be remembered by his partners,staff and clients.
I interviewed Julius and Benny Torch in April 1962 in Annan House. During the interview I asked him if I had a chance of ever becoming a partner. He turned to Ben and said “Listen to him. He dosn’t have a job yet and wants to be a partner.” He gave me a job at R175 per month and the rest is history. He did not forget the interview either.
Thanks.
Monty Kobrin
28/03/12
Dear David,
I was very sad to hear of the passing of Mr Feinstein. I first met him on my initial visit to the firm ( and to South Africa ) over twenty years ago and then again on each of my many subsequent visits. I had the highest respect for him and enjoyed my many discussions with him. Please extend my deep sympathy to his family and to all at the firm who knew him.
With my warm personal regards,
David McDonnell, former Global CEO, Grant Thornton International
29/03/12
The Partners, Grant Thornton South Africa
Dear Friends,
I knew Julius Feinstein literally for the 72 years of my life.
He was a young associate of Isaacs & Kessel , when he first handled the audit of my father’s and uncle’s original business and as such he attended my Bris in July 1940.
Our family’s association as clients goes back to 1930 when Isaacs and Kessel-later Kessel Feinstein became their auditors. As a family, and on a personal note, I never made a decision before the mantra “lets get Julius’ ‘view” was intoned.
He was involved in every property transaction, every retail decision and every major family decision we ever took.
With an association with Mr. Feinstein, (as I could only call him, despite exhortations to use his first name) going back for so many years, I was delighted that my children have continued as clients of the firm-an 82 year old relationship.
Despite having lived in the UK for the past 21 years, I never missed an opportunity to visit and seek advice from “Mr. Feinstein” whenever I was in South Africa and was delighted to have been instrumental as Chairman of the South African Friends of The Hebrew University, in setting in motion the Julius Feinstein Chair of Accountancy, which was so kindly sponsored by his partners and long-standing clients.
As the doyen of the accountancy profession in South Africa, you have lost his great wisdom and kindly, inspirational presence.
I mourn with you, the loss of a monumental presence in my life.
Anthony Spitz
28/03/12
Thanks Peter
I am glad you thought to let me know, and was sorry to hear of Julius’ death. Illogically, he was one of those eternal figures one expects to be always around, and yet had become very frail in the last couple of years. I just returned yesterday from Dubai so was unable to make the funeral, and would perhaps have missed this news.
He was a terrific professional and great character, and will certianly be missed.
Hope you are well, best to you,
Neil Dundas, Curator, Goodman Gallery
28/03/12
Dear Pamela
Very sorry to hear about the passing away of Mr. Feinstein. Please accept our deepest and heartfelt condolences.
Kindly keep me updated of any memorial service that is planned.
Regards,
Jay Ramesh, Managing Partner, Grant Thornton Botswana
30/03/12
Hi Dov
Farrell called me and let me know that JF had passed away. A great life and a great man . My condolences to his family .
Love to you all and speak to you soon.
Regards
Joe Bean, Alphapage, LLC
30/03/12
I was so very sad to read of the passing of Julius Feinstein , please convey my sincerest condolences to David as I know how much David respected and loved him.
Sincerely
Sharon Fox
01/04/2012
With great sadness that I read about Mr Feinstein’s (JF) passing away.
My memory is clear – the first day I made partner in the Johannesburg office Mr Feinstein had a 3 hour chat to me about the responsibilities of a partner but more importantly how to lead a good life balance. I will never forget that conversation.
My thoughts are with family and friends at this time
Kind Regards
Andrew Rigele, Partner – Audit & Assurance, Grant Thornton Australia
I kept in fairly regular telephonic communication with Mr. Feinstein from my home in Miami, Florida, USA.
I always assured him of the enormous influence that he had had over me. I was articled to him, and throughout my stay at the Firm, ultimately as a partner, looked to him for guidance.
I miss him. It was an honor to have known him.
My personal condolences to daughter Mel and son Alan, and the the members of the Firm.
URIAS (Mickey) Simon