New York-based IPA 100 firm Marcum LLP (FY21 net revenue of $799.1 million) and fellow New York-based IPA 100 firm Friedman LLP have completed their megamerger, which was originally announced in May.
With the addition of Friedman’s nearly 850 partners and associates, the combined firm will operate under the Marcum brand and employ more than 3,500 staff members. Friedman co-MPs Frederick Berk and Harriet Greenberg have been admitted as partners at Marcum, with Berk joining the Marcum executive committee and assuming the role of co-leader of the Marcum real estate group.
“With our mutual priority on client service excellence, the strong synergies between our businesses, the alignment of our operating philosophies and a shared culture focused on team member success, Friedman and Marcum see tremendous opportunities in this partnership for both our clients and our people,” says Marcum chairman and CEO Jeffrey Weiner. “Fred and Harriet built an outstanding organization, and we welcome them and the entire Friedman team to Marcum.”
“One of the great things about Marcum is that they are a truly entrepreneurial firm, which means they are constantly evolving their best practices as clients’ needs and market forces change and optimizing career opportunities for their professionals,” adds Berk. “It’s a very dynamic environment, and one in which our team and our clients will thrive.”
“Mergers of this size and stature are rare in the accounting profession because so many things have to line up,” says Allan Koltin, CEO of Koltin Consulting Group, who advised both firms on the combination. “In this deal, Friedman and Marcum both saw the strategic and cultural fit on day one. What was amazing throughout the process was how compatible the firms were and how often they recognized a best practice in each other that will become the standard for the merged operation.”
