Search Results for: Cohen & Company

Cohen & Company Shifts into New Gear

Insurance Acquisition Corp., a subsidiary of Cleveland-based IPA 100 firm Cohen & Company, will merge with automotive e-commerce firm Shift Technologies Inc. of San Francisco.

Founded in 2013, Shift uses proprietary technology to deliver a comprehensive and seamless experience for both car buyers and sellers, including listings, test drives, paperwork, financing and more. When the deal is completed in the third quarter of this year, Shift’s existing management team will lead the combined entity, which will operate under the name Shift Technologies Inc.

“We are excited to partner with Shift and its world-class management team as it leverages its technology platform to disrupt the $840+ billion used car market,” says Insurance Acquisition Corp. board chairman Daniel Cohen. “With its tremendous, ongoing success in its core markets, we believe that this merger and its accompanying capital infusion will enable Shift to expand its product offerings and execute on its growth strategies.”

More news from Cohen & Company

Cohen & Company Launches New Stablecoin Website

Cleveland-based Cohen & Company, an IPA 100 firm, is launching a new website designed to provide transparent reporting to the stablecoin market. Available to the general public, Stableinsight (stableinsight.cohencpa.com) allows visitors to select from certain stablecoins, view the current and historic circulating coins and the collateral balance backing the coins.

The website uses data provided by third parties who have hired independent accounting firms to provide reports on their system and organization controls. Investors can use the site to monitor and confirm the number of coins listed are fully backed by fiat currencies or other collateral as prescribed by the coin issuer.

“We pride ourselves on being the leader in the alternative investment space,” says Corey McLaughlin, national MP for alternative investments. “Our clients and colleagues depend on our knowledge and experience to continue to be forward-thinking and providing the tools needed to navigate our market. Our team goes beyond traditional audit and tax services to offer these services and tools – with the launch of this website we are honoring that commitment.”

Cohen & Company Adds Partner to Investment Industry Services

Jeff Haneline

Cleveland-based Cohen & Company (FY18 net revenue of $83.9 million) has announced that Jeff Haneline has been admitted as an audit partner.

Having spent several years in a fund administration role, Haneline has insight into the nuances and intra-workings of a large administrator. “Seeing the issues from both sides of the fence is an invaluable quality to bring to the client relationship,” the firm announced.

He primarily works with a variety of advisors and service providers of ETFs, open-end mutual funds, closed-end interval funds, MLP funds and hedge funds ranging from emerging managers to multi-billion-dollar entities. He is based in the Milwaukee office.

Cohen & Company Admits Partners

Peter Gilroy-Scott

Peter Gilroy-Scott

Cleveland-based Cohen & Company (FY17 net revenue of $67 million) admitted four partners in the investment industry services division.

Peter Gilroy-Scott has more than 20 years of tax and accounting experience both in the U.S. and abroad. His expertise spans the areas of alternative investments, financial services and investment banking. He has an understanding of the structure and operations of hedge funds, commodity pools, foreign corporations and other investment vehicles. A leader in the fund tax group, Gilroy-Scott’s role includes tax return preparation services, tax planning, research and other consulting services for investment vehicles in the alternative investment industry.

Dianne Killian

Dianne Killian

Dianne Killian has more than 20 years of experience. She supervises and reviews tax compliance and provides consulting for private equity and alternative investment operating entities. Specializing in the taxation of flow-through entities, Killian’s background focuses on private equity funds, special purpose vehicle entities, mezzanine funds, alternative investment funds, and working with the principals of the management companies and fund general partners to minimize their tax risk and exposure.

Jay Laurila

Jay Laurila

Jay Laurila specializes in tax work for regulated investment companies, hedge funds, ETFs, MLP funds, private equity funds, fund-of-funds and other private investment funds. He leads client service teams focused on a wide range of tax matters, including federal, state and international taxation of financial instruments, accounting methods and product structures. Having previously worked at a Big 4 firm for 13 years, Laurila’s experience spans a wide range of tax-related investment management disciplines.

Thom Stranger

Thom Stranger

Thom Stranger provides accounting, consulting and auditing services to a wide variety of entities, including commodity pools, hedge funds, commodity trading advisors, investment advisors and other operating entities. With more 20 years of public accounting experience, he also has industry insight as a former CFO at a group of companies that included an insurance agency, two captive insurance companies and a risk retention group.

E. Cohen & Company Names Cameron and Maxwell as Principals

Robin Meisner Cameron

Robin Meisner Cameron

E. Cohen & Company (FY16 net revenue of $8.2 million) of Rockville, Md., names Robin Meisner Cameron and Kimberly Maxwell as principals of the firm.

Cameron has three decades of experience in the preparation and review of individual, corporate, and partnership tax returns with a specialty in high-net-worth individuals and attorneys. She also assists entities with the tax requirements of their initial registrations, ongoing tax compliance, and consults on mergers and acquisitions as well as other transitional issues.

“Ultimately, this business is about the people we serve; their needs, goals and aspirations. At ECC we pride ourselves on helping our clients meet those goals while keeping them in compliance with applicable laws and regulations,” says Cameron.

Kimberly Maxwell

Kimberly Maxwell

As principal, Maxwell will continue to enhance the firm with her expertise specializing in audit, assurance, tax and consulting services for nonprofit and business clients. She has more than 20 years of experience in serving the needs of not-for-profit and business entities.

“I look forward to continuing to work with our clients and staff to help them achieve their goals. It is extremely rewarding to provide guidance to clients on complex business issues and regulations in a constantly changing environment. ECC is an innovative firm for which I am proud to represent and continue in my career,” says Maxwell.

Cohen & Company Opens Downtown Chicago Office, Admits Partners

Cleveland-based Cohen & Company (FY17 net revenue of $67 million) admitted new partners and opened a new office in Chicago.

Vince Curttright

Vince Curttright

The new office is led by Vince Curttright, an audit partner formerly with a large, national firm. Curttright has more than 15 years of experience specializing in domestic and offshore investment partnerships and companies, registered investment advisers and proprietary trading firms. His clients spanned both public and private entities in the financial services industry, and have ranged from start-ups to multi-billion dollar entities with a variety of trading strategies, including commodity funds, long and short equity, private equity, cryptoassets, derivative instruments and fixed income.

“The next logical step in our growth strategy was to solidify our presence in the Chicago area. With public and private fund clients already in Chicago, being present in the marketplace allows us to provide a deeper level of service and expertise. Chicago makes perfect sense for us – it’s a stronghold for the financial markets specifically in the alternative investment area, and that is a major focus for Cohen & Company,” says Chris Bellamy, co-president, investment industry services.

Josh Lefcowitz

Josh Lefcowitz

Josh Lefcowitz was admitted as partner in the valuation practice. He has more than 15 years of public accounting experience providing valuation, forensic accounting and dispute advisory services for a wide array of purposes. Lefcowitz has experience serving clients across a range of industry sectors, including investment fund. In addition, he has experience related to business valuations and other services associated with intangible assets, purchase price allocations, intellectual property, oil and natural gas rights, and goodwill impairment testing. Lefcowitz will support the firm’s private company and investment industry clients, and will be located in the Pittsburgh office.

Bill Yahara

Bill Yahara

Bill Yahara joins the firm’s New York office as a tax director, with more than 15 years of public accounting experience working on clients in the alternative investment industry. Also joining the New York office is John Passantino as a senior audit manager. Passantino’s prior experience with a national firm focused on hedge funds, private equity funds, funds of funds, management companies and broker-dealers.

Furthering the development of the tax services team in the Milwaukee office is Jim Rosing, tax manager, with experience in both public accounting and tax administration services for hedge funds, mutual funds and private equity funds, with a focus on international tax issues.

“We identified the Chicago market, private equity and valuation as strategic growth opportunities for the firm. Working together as a cohesive team, we were able to identify the right resources that are the right fit for our clients and our firm,” says Corey McLaughlin, co-president, investment industry services.

E. Cohen & Company Admits Keninitz as Principal

Donald Keninitz

Donald Keninitz

E. Cohen & Company (FY16 net revenue of $8.2 million) of Rockville, Md., admitted Donald Keninitz, as principal in government contractor consulting and merger and acquisitions services.

Keninitz has more than 35 years of experience in accounting, auditing and consulting, and adds resources and expanded services to better meet the needs of entrepreneurial and middle-market businesses in the D.C. area.

“I believe the addition of Don elevates the firm’s position in the community and strengthens its ultra-high-end consulting services,” says managing principal, Eric Cohen. “Don has extensive experience in business valuation, deal structuring, due diligence and strategic planning; and is a terrific addition to our team who have been working with business clients for over 30 years.”

“The process of mergers and acquisitions can be a complex one,” Keninitz says. “There are multiple legal, accounting, financial, managerial and cultural variables that need to be considered when two companies join forces. E. Cohen & Company CPAs can make things easier for business owners and managers during this otherwise chaotic and challenging process, and I am thrilled to be a part of the team.”

Cohen & Company Announces Addition of John Butler to Insurance Team

Cleveland-based Cohen & Company (FY17 net revenue of $67 million) welcomes John Butler as a managing director for the U.S. insurance asset management platform and global insurance-linked securities program, effective Nov. 1.

Butler has 20 years of industry experience in global investments in insurance companies as well as investments in insurance-linked securities, and specialized in the origination, analysis, structuring and portfolio management of private fixed income, catastrophe bond and reinsurance related transactions.

“The combination of his extensive product knowledge, strong industry relationships and deep management experience make John ideally suited to take on this role. This strong addition to our team exemplifies our continued commitment to Cohen & Company’s global insurance related investment strategies,” says Lester Brafman, CEO.

Cohen & Company and Arthur Bell Investment Industry Merge

Cleveland-based Cohen & Company (FY17 net revenue of $67 million) has acquired Hunt Valley, Md.-based Arthur Bell.

Chris Bellamy, the current president of Cohen & Company’s investment industry services division, and Corey McLaughlin, managing member of Arthur Bell, will co-manage the practice.

Arthur Bell has dedicated itself to the alternative investment community, focusing on audit, tax and consulting services for hedge funds, commodity pools, funds of funds, private equity and other investment vehicles for more than 40 years.

Cohen & Company has a dedicated investment industry services division that is focused on providing audit, attest and tax services exclusively for the investment industry and has a national client base including mutual funds, exchange-traded funds, hedge funds, private equity, investment advisers and fund service providers.

“It was clear from the beginning that both firms love what they do, and it shows through our mutual dedication to our clients. We are exceptionally proud of the talent and commitment of our combined teams, and the enthusiasm and collaboration that went into this process,” says Randy Myeroff, CEO, Cohen & Company. “The increasing complexity of the investment industry and market factors have placed tremendous strain on those in the investment arena. Combining key service areas within the firms has uniquely positioned Cohen & Company to address the multitude of issues that can arise, so that each client can feel confident they are getting the best possible expertise and advice.”

McLaughlin sates, “Our firms share a common vision and focus in the investment industry that is unparalleled. Our combined expertise in hedge funds, mutual funds and ETFs will be a tremendous advantage to our clients that are evolving to innovate and attract new investors. Our focus will continue in the alternative investment industry, with elevated service offerings that more holistically support our clients’ expanding business goals.”

“The scale and ability that our firm now has is unlike any in the industry – enhancing our client service and solidifying ourselves as the foremost audit, tax and consulting firm in this space,” says Bellamy.

2017 IPA 100 Fastest-Growing Firm Profile: Cohen & Company

Cohen & Co., which has enjoyed organic growth of more than 17% over the previous fiscal year, has been ranked as one of the fastest-growing firms among the largest 100 firms in the nation. When the acquisition of GHD CPAs and Advisors of St. Clair Shores, Mich., was added, the firm grew by 34.5%, bringing it from No. 74 on the IPA 100 list in 2016 to No. 61 this year. INSIDE Public Accounting asked MP Randall Myeroff to offer his insights into his firm’s success, growth goals, top clients and predictions on how the accounting profession may change over the next 10 years. Congratulations to the entire Cohen & Company team.

Randall Myeroff

Randall Myeroff

Firm: Cohen & Company
CEO: Randall Myeroff
Headquarters: Cleveland
FY17 Net Revenue: $67 million
Organic Growth Rate: 17.1%
Total Staff: More than 400; 53 partners
No. of Offices: 10
Year Founded: 1977

To what do you attribute your ability to grow the firm so significantly?

Our growth, recently and over our 40-year history, is anchored in technical excellence and a passion to serve our clients. To do this, we have been committed to the trifecta of over-hiring at the entry level, attracting skilled lateral talent and having crazy-low attrition. Great people and great culture allow us to listen, engage and deliver sustainable value to our clients in ways that set us apart in the market.

Tell us about the types of services you provide to your top three clients.

With a higher percentage of tax professionals than many firms our size, strategic tax planning and compliance make up an important part of our value proposition. That planning covers the full business life cycle from start to disposition, including personal planning for the owners. Attest services are also a significant part of what we do and how we bring value to our clients. And as their needs and businesses have evolved, so has the strength and reach of our advisory services, including M&A advisory, transaction services and management consulting.

What are your growth goals for the next five years?

Our goal is to continue annual organic growth of 10% to 15% over the next five years, coupled with opportunistic acquisitions of talent and firms in either our current geographies or new geographies that align with our strategic plan.

What type of client is an ideal fit for your firm?

We are passionate about what we do, so we love working with others who are passionate about what they do. Our private company services division helps private company owners, family businesses, executive management and private investors who lead companies with revenue in the tens of millions to over $1 billion. Our investment industry services division works with newly seeded funds to well-established, multiple-fund families who want to remain compliant and thrive. Our firm works with innovative, motivated leaders who want more — whether that means help finding additional tax savings, remaining compliant or navigating the challenges of running a successful organization.

Can you predict how accounting firm services will change over the next 10 years?

Technological advances will have a significant impact on the accounting industry, and all industries, over the next 10 years as artificial intelligence and robotics further automate certain tasks and activities. In addition, we believe consolidation within public accounting will continue to accelerate as firms navigate ownership succession, compete in the war on talent and continue to focus on critical specialization of services.