Marcum Llp and Friedman Llp Announce Plans to Merge

Leading national accounting and advisory firms Marcum LLP (“Marcum”) and Friedman LLP (“Friedman”) announced that they are in advanced discussions related to a proposed transaction in which Friedman will merge into Marcum, resulting in a national top-12 firm with approximately $1 billion in annual revenue and more than 3,400 associates.The merger of Marcum (ranked No. 15 by Accounting and Friedman (ranked No. 33) is anticipated to close in the summer of 2022. The transaction will combine two well-regarded national firms with a shared emphasis on superior service, outstanding talent, industry specialization, and a focus on meeting clients’ needs in a rapidly evolving business landscape. The combination will:

  • Deepen the firms’ capabilities in key service areas, including public company audit and assurance, digital assets, cybersecurity, real estate, construction, and other advisory services. It will be one of the largest firms serving Chinese companies listed on the U.S. stock markets.
  • Give Friedman clients access to expanded services, including strategic information technology consulting and wealth management.
  • Combine the best of two employee-centric cultures with a continued commitment to diversity, equity and inclusion; learning and development; and work/life balance.
  • Enable the Firm to enhance and scale investment in technology, talent, and innovation.

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The combined firm will operate under the Marcum brand and continue to be headquartered in New York City, with offices throughout the continental United StatesChinaIreland, and Grand Cayman.”Marcum and Friedman share common roots in the New York area, extensive histories of exceptional client service, similar employee-oriented cultures, and a commitment to leading in emerging growth areas in our profession. We view this transaction as a very natural fit and are excited about our shared future together,” said Jeffrey M. Weiner, chairman and chief executive officer of Marcum, who will maintain both leadership roles once the proposed transaction is completed.”Friedman has experienced record growth, hiring, and revenues over the past two years, giving us a position of strength from which to consider our next strategic move. After extensive discussions, it became clear to us that combining our resources with Marcum would be in the best interests of our clients, partners, and employees,” added Frederick R. Berk, co-managing partner of Friedman.”Friedman has been fortunate during its history to grow through selective mergers, the addition and retention of great clients, and the thoughtful contributions of employees at every level of our firm. Joining with Marcum is the next logical step in that evolution. Our complementary practices and entrepreneurial mindsets form a powerful foundation for long-term strategic growth,” said Harriet Greenberg, co-managing partner of Friedman.

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