Monday, February 16, 2009

Two NYC Mergers Announced

Two New York City mergers were announced today. Parente Randolph, LLC, has combined its practice with New York City-based, Lazar Levine & Felix LLP. Crowe Horwath LLP is merging with Hays & Company LLP and admitting six partners to open a new Crowe New York City office.

David Lifson and Ed Kuczmarski of Hays & Co. will lead a 50-person Crowe Madison Avenue team. “This is another step to accomplishing our vision of becoming a national firm that is globally recognized and will firmly establish Crowe’s entry into the New York market,” said Chuck Allen, Crowe’s chief executive officer. Crowe already has offices in Livingston, N.J., and Philadelphia, Pa.

The $16 million Lazar Levine & Felix and Parente Randolph merger will create a firm with 650 team members and 82 principals.

“We do expect this to provide growth opportunities and that will lead to an increase in staff,” says a company spokesperson. Parente’s not able to define how large that increase might be.

“Our services complement each other and their location ties in directly with our growth plan,” adds Robert J. Ciaruffoli, chairman and CEO of Parente Randolph. “Having solidified our footprint in New Jersey and expanding into New York City, we look forward to the new business development opportunities and attraction of talent this merger will bring.”

Parente Randolph provides assurance and tax services, corporate finance, governance and risk management, forensic accounting, and business systems, human resources and healthcare consulting.

Lazar Levine & Felix will add matrimonial services and a family office practice to the service list. Both firms already offer business valuation and litigation support services.

Joining Parente Randolph as Principals are Paul Adams, Eric J. Barr, Amiram (Kiki) Bielory, Ted M. Felix, Jay B. Goldberg, Lawrence Gotfried, Henry B. Guberman, Moshe Levitin, Joan Lipton, Nazeleen Sataur, Thomas R. Vreeland. Retired partners O. David Fischer, Melvin Lazar and Spencer Wissinger, III, will continue to provide services to the new entity.

The Lazar Lipton Valuation Services LLC affiliate of Lazar Levine & Felix, will become a division of Parente Randolph

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