In a major deal expected to close this summer, New York-based IPA 100 firm Marcum LLP (FY20 net revenue of $689.1 million) is merging in fellow New York-based IPA 100 firm Friedman LLP (FY20 net revenue of $144.7 million). The combined firm will operate under the Marcum brand and employ nearly 3,400 staff members.
“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,” says Marcum chairman and CEO Jeffrey Weiner, who will maintain both leadership roles once the proposed transaction is completed.
The combination is expected to deepen the firms’ capabilities in key service areas, including public company audit and assurance, digital assets, cybersecurity, real estate, construction and other advisory services, while providing Friedman clients with access to expanded services, including strategic information technology consulting and wealth management.
“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,” adds Friedman co-MP Harriet Greenberg. “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.”