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Marcum LLP Admits 5 New Partners

New York-based Marcum (FY18 net revenue of $549.7 million) announces the admission of five new partners in two divisions – tax and business, and advisory services.

Marcum’s newest partners are:

  • Dean Drummund – advisory and consulting group, Boston
  • Andre Benayoun – tax and business services, Fort Lauderdale, Fla.
  • Martin Martinez – tax and business services, Houston
  • Amie Gartenberg – tax and business services, New York
  • Patrick O’Reilly – advisory services, Portland, Maine

“All five of these new Marcum partners bring outstanding expertise and additional depth to specific niches within the firm’s service portfolio, which creates more value for our corporate and individual clients,” says Jeffrey M. Weiner, chairman and CEO.

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Marcum LLP, Hofstra Survey Shows CEOs Planning to Invest in Future

New York-based Marcum (FY17 net revenue of $469.5 million) and Hofstra University’s Frank G. Zarb of Business are partnering to survey business leaders on their perspectives on the business environment, short-term plans for growth and investment, and selected business or news developments.

The survey is being conducted as part of the business school’s MBA curriculum. Results will be presented in three installments this year.

Results from the first survey found CEOs to be “strongly bullish,” both in their current and short-term future outlook, Marcum announced.

“CEOs whose companies realized a tax savings in the first year of the new tax law described how they plan to invest the funds back into their companies, citing business expansion, debt reduction, operational improvements and increasing employees’ salaries as their first priorities,” the firm announced. The CEOs surveyed stressed recruitment and availability of talent as top priorities in capital spending and business influences.

Marcum CEO and Hofstra alumnus Jeffrey Weiner says, “It is a very positive signal for the economy and the national mood that the first Marcum-Hofstra survey revealed CEOs’ strong optimism about the business environment, despite the economic and policy flux that has characterized the past year, and the complex new tax code that has changed the dynamics of commerce from the local to the international level.”

Janet Lenaghan, dean of the business school, says, “Partnerships like this one between Marcum and the Zarb School are vital to training the next generation of business leaders. This survey, with its in-depth, real-time insight about the business climate, help us provide a pipeline of talented students who are poised meet the demands of industry and prepared to take their place in C-suite.”

Highlights of the first Marcum-Hofstra survey include: 

  • 49% rated the availability of talent among their top influences for business planning over the next 12 months.
  • 29% said talent recruitment will be one of their top capital investments in the next year.
  • 18% of CEOs gave their outlook on the business environment the highest rating of “10” and 96% rated their outlook at “5” or higher.
  • 64% of CEOs plan to invest more in their companies over the next 12 months. Technology was most frequently selected as a top-three investment priority (47%), and equipment was the No.1 priority overall (20%).
  • The three greatest influences on business planning selected by CEOs were technology (53%), economic concerns (53%) and availability of talent (49%).
  • The top external issues cited by CEOs as impacting their businesses included economic trends (76%), cost of labor (49%), cybersecurity (38%) and inflation (38%).

CEOs were also asked whether their jobs were harder now than in the past. A majority, 57%, answered “no.” Of the 43% who said the CEO job is harder now, the most frequent reason given was the challenge of “attracting and retaining customers/clients” (18%).

CEOs were also asked about the impact of the 2017 Tax Cuts & Jobs Act on their business’ tax liability. More than a quarter (27%) of respondents said their companies’ tax obligations decreased in the first year under the new tax law, while 18% said their companies’ taxes increased. About half (46%) saw no effect on their taxes.

Zarb MBA students designed the questionnaire, analyzed the survey results, and reported on the influence of these factors on executive decision-making. “The students, in addition to honing their research skills, gained a deeper appreciation of the role that external forces play in the evolution CEOs’ strategic priorities,” says Andrew Forman, associate professor of marketing and director of the co-op MBA program.

C-suite executives at 255 companies in more than a dozen industries participated in the Marcum LLP- Hofstra University CEO Survey.

For the complete Marcum LLP-Hofstra University CEO Survey and an archive of prior surveys, visit

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Marcum LLP Merges in Guyder Hurley

New York-based Marcum (FY17 net revenue of $469.5 million) has merged Guyder Hurley of Braintree, Mass., into its Boston office as of March 1.

The Guyder Hurley team adds 17 associates, including one partner and one managing director, to Marcum’s New England region.

Founded in 2000, Guyder Hurley is a full-service accounting firm specializing in the affordable housing industry. The firm’s clients include public housing authorities, HUD multi-family housing projects, low-income housing tax credit developments, state and local affordable housing developments, health and human service organizations, and community development organizations. The firm’s service portfolio encompasses financial statement and compliance audits, compilations and reviews, bookkeeping, tax and consulting.

“There are clear natural synergies between Guyder Hurley’s housing specialization and our national government services group, as well as with Raffa-Marcum’s nonprofit and social sector group. The complementary nature of our businesses is a blueprint for expanding our portfolio of services to our clients and our mutual opportunities to grow,” says CEO Jeffrey Weiner.

“Marcum’s openness in recognizing the value that we can add to their business and the ability they give us to expand our service profile nationally is a formula for success,” says assurance services partner Michael Guyder.

The firm’s government services group provides auditing, accounting, financial reporting and management advisory/consulting services to a broad spectrum of governmental entities. In addition to public housing authorities and related entities, the group’s clients include counties, school districts, local municipalities, community redevelopment agencies, special districts, quasi-governmental agencies, public employee retirement systems and utilities.

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Marcum LLP Welcomes 5 New Partners

New York-based Marcum (FY17 net revenue of $469.5 million) has admitted five professionals to the partnership group.

Mark Cummings is an assurance services partner in the Boston office. He has more than 20 years of experience in assurance, reimbursement and tax in the health care industry, serving skilled nursing facilities, continuing care retirement communities, assisted living facilities, home health and hospice agencies, and physicians’ practices. He serves clients in the New England market with revenues ranging from $1 million to more than $300 million, in both the for-profit and nonprofit sectors.

Lindsay N. Timcke is part of the advisory and consulting practice in Boston and a member of the firm’s cybersecurity and IT risk and assurance services groups. He specializes in the development and implementation of cybersecurity programs and Enterprise Risk Management (ERM) assessments for preventive and detective risk-based programs. Timcke has 25 years of experience assisting nonprofits, educational institutions, and public and quasi-government agencies, including several Fortune 2000 companies.

Richard Izzi is a partner in the New York advisory group, where he leads transaction services for the New York, New Jersey and Connecticut area. He specializes in transaction advisory services to buy- and sell-side clients including private equity funds, strategic investors and lenders. His expertise includes refinance and recapitalizations, financial modeling, working capital analysis, carve-out analysis, purchase agreement consultation and dispute resolution. He is a certified Six Sigma Green Belt.

Douglas McKay is a tax partner in the firm’s alternative investment industry group, based in New York. He has more than 20 years of experience and specializes in partnership and private equity taxation. He advises private equity funds, real estate funds and their general partnerships and management companies on complex tax matters. His knowledge of partnership taxation, international tax compliance, and state and local tax compliance has been applied to private equity, real estate funds and their portfolio companies.

Andrew Finkle is a partner and tax leader in the transaction advisory services group in the Philadelphia office. He is also a Mid-Atlantic regional leader in Marcum’s private equity practice group. He has more than 30 years of experience advising middle-market businesses on transactional, day-to-day advisory, compliance, and accounting-related tax matters. He is also a tax attorney. Finkle leads a team of transaction tax advisory professionals providing counsel to U.S. and multinational strategic buyers and sellers, private equity groups, and other financial buyers on the tax implications of complex business transactions, including mergers and acquisitions, restructurings, joint ventures, spin-offs, bankruptcies, work-outs and dispositions.

Marcum Merges in Maine Firm

Kirk Purvis

New York-based Marcum (FY17 net revenue of $469.5 million) announced that Dawson Smith Purvis & Bassett of Portland, Maine, merged into Marcum’s New England region on Jan. 1.

The team of seven partners and 20 professional and administrative associates will remain at the firm’s current location at 15 Casco St. It will be Marcum’s second Portland office. Kirk Purvis will serve as OMP.

Founded in 1990, Dawson Smith Purvis & Bassett offers a full range of accounting services, including tax and financial planning for closely held businesses and high-net-worth individuals, litigation support and business valuation, marital dissolution and personal financial planning, among many other services.

“Dawson Smith Purvis & Bassett’s loyal client base, developed over nearly 30 years, is a testament to their commitment to excellence and technical proficiency. They will be a strong addition to Marcum’s New England region,” says Jeffrey M. Weiner, Marcum’s chairman and CEO.

In addition to Portland, Marcum’s New England region includes Boston, Providence, R.I., and four offices in Connecticut – Greenwich, Hartford, New Haven and West Hartford.

“Marcum’s extensive resources and industry specializations will significantly diversify our service offering to our clients while providing a rich opportunity for our professionals to collaborate as part of a national team,” Purvis says.

Marcum also merged in Silverman Kendall of Horsham, Pa., on Jan. 1.

Marcum to Merge In Silverman Kendall

New York-based Marcum (FY17 net revenue of $469.5 million) will merge in Silverman Kendall of Horsham, Pa., on Jan. 1.

The Silverman Kendall team will join Marcum’s Philadelphia office in Center City. Samuel A. Silverman and Jordan M. Kendall will both become Marcum partners.

Founded in 2001, Silverman Kendall is a firm specializing in manufacturing companies and professional service organizations, with a niche in the commercial printing industry. It provides a full range of accounting and consulting services to family-owned businesses, owners, executives and other high-net-worth individuals.

“Sam Silverman and Jordan Kendall built a very highly regarded firm with a focus on serving an industry that is instrumental in business-to-business and consumer commerce. Their niche expertise and their history as advisors and confidantes to their clients make them a perfect fit for Marcum,” says Jeffrey M. Weiner, chairman and CEO.

Silverman says, “We clicked with Marcum from the outset. The mutual chemistry and the business logic of joining a national firm of Marcum’s depth and stature will bring immediate benefits for our clients across the country as well as for our service team.”

Marcum Partner Named Technology Leader of the Year by LEA Global

Peter Scavuzzo

Peter Scavuzzo

New York-based Marcum (FY17 net revenue of $469.5 million) announces that Peter Scavuzzo has been named Innovative Technology Leader of the Year by LEA Global, an international association of accounting and advisory firms.

Scavuzzo was recognized for leading Marcum’s digital transformation and his advocacy of leveraging technology to ensure the firm maintains long-term competitiveness.

“The winner in the technology leader category promotes initiatives that are focused on digitally modernizing traditional processes and engaging technology to drive efficiency and maximize productivity,” says Karen Kehl-Rose, LEA Global president, adding that he “focuses on driving business innovation, digital transformation, customer digital experience, data analytics and security/risk aversion.”

Scavuzzo is responsible for creating and executing the strategic technology programs across all Marcum Group companies. He has played a key role in his firm’s expansion from two to 32 offices, successfully integrating more than 30 M&A transactions and expanding and relocating more than 15 offices.

Audit Expert Joins Marcum as Assurance Partner

Dan McIntosh

Dan McIntosh

New York-based Marcum (FY17 net revenue of $469.5 million) announces that Dan McIntosh has joined the firm as an assurance services partner in the firm’s San Francisco office.

McIntosh specializes in performing financial statement and internal control audits, including SOX Section 404 and business process analysis and improvement. He has more than 13 years of experience working with public and private clients to address a wide range of financial, operational and technology risk issues.

Prior to joining Marcum, McIntosh led global and domestic audit teams with a Big 4 accounting firm.

Two IPA 100 Firms Merge: Raffa and Marcum

Washington, D.C.-based Raffa (FY17 net revenue of $49.1 million) combined with New York-based Marcum (FY17 net revenue of $469.5 million) on Oct. 1, the firms announced.

A recognized leader in the nonprofit and social sector, the Raffa team joins Marcum’s not-for-profit practice group, which will be known as Raffa – Marcum’s Nonprofit and Social Sector Group. Both firms are listed on the 2018 IPA 100 list, with Raffa at No. 84 and Marcum at No. 16.

Founder and CEO of Raffa, Thomas Raffa, is national leader of the combined nonprofit specialty group. Kathy Raffa, the firm’s president, is now Marcum’s OMP in Washington., D.C.

Raffa brings to Marcum 18 partners, 11 of them women, and 280 associates. Raffa is the only IPA 100 firm to be majority-owned by women partners. The merger expands Marcum’s team to 250 partners and more than 1,700 associates.

Raffa has been focused on serving mission-based organizations and socially directed businesses through a range of operational and strategic functions, including managed services in accounting, technology, human capital, and business, succession and sustainability planning.

“The pursuit of social good through business has never been more prominent or more needed,” says Tom Raffa, in a statement. “I have worked my whole adult life to impact systemic societal change, and Raffa has been a tribute to this purpose. Now is the time to take what works at Raffa and bring it to scale. Marcum is the perfect firm to make this vision a reality.”

In keeping with its service mission, Raffa was also distinguished as the largest B-Corp certified CPA firm in the world, scoring in the top 10% of all B-Corps worldwide and recognized as a “Best for the World” honoree in 2018 and 2017. The exclusive B-Corp certification establishes that a firm has met rigorous standards of social and environmental performance, public transparency and legal accountability to balance profit and purpose.

Raffa’s mission has enabled the firm to “do well while doing tremendous good,” says Marcum CEO Jeffrey Weiner. “They have a proud history of providing unparalleled expertise around a spectrum of services and back-office solutions that support and strengthen their nonprofit clients’ operations.”

Kathy Raffa says the firms share a culture of entrepreneurship and leadership and a commitment to community, diversity and inclusion. “I am thrilled to expand Raffa’s women’s leadership, cultural and gender diversity, and the gratification that comes from helping clients who are making the world a better place.”

Marcum Admits Six to Partnership

New York-based Marcum (FY17 net revenue of $469.5 million) has announced that it has admitted six associates to the partnership group.

“This year’s class of new partners exemplifies the superior talent, professionalism, and dedication that Marcum associates bring to serving the best interests of their clients and our firm,” says Jeffrey Weiner, chairman and CEO. “Each one of them is a role model not only for other associates on the career track, but for all of us.

With the 2018 promotions, Marcum partners now total 217. The new partners are:

  • Bradford Taylor, Advisory Services, Boston – Taylor provides valuation, litigation support and financial analysis services to both private and public companies in a variety of industries. He specializes in the valuation of business enterprises, intangible assets, and common and preferred equity, and has provided litigation support in divorce matters, shareholder disputes, economic damages and lost profits.
  • Cesar Estrada, Tax and Business Services, Fort Lauderdale, Fla.– Estrada’s clients have included multi-subsidiary consolidated groups, family businesses, financial services groups and foreign investors. He provides traditional tax compliance and research services as well as complex tax planning for C corporation conversions, subsidiary liquidations, entity structure analysis, partnership interest buyouts and international taxation.
  • Karen O’Connor, Tax and Business Services, Melville, N.Y.–O’Connor works closely with large multistate and multinational companies, as well as family-owned businesses. She provides tax consulting, planning, financial statement disclosures and ongoing tax compliance services to both public and private entities.
  • Michael Brady, Tax and Business Services, Philadelphia– Brady provides strategic tax planning, research and compliance, ASC 740 review and planning, and complex business advice to clients in the real estate, law, health care, manufacturing, telecommunications, software development and equipment leasing industries.
  • James W. Miller, Assurance Services, New Haven, Conn. – Miller is an integral member of the firm’s national construction industry group. He has more than 13 years of experience compiling, reviewing and analyzing financial statements for construction contractors and allied companies. He has been involved in sensitive, high profile engagements regarding fraud and litigation support and due diligence projects for business acquisitions.
  • John L. Hughes, Assurance Services, New York – Hughes primarily works with mid- to small-cap companies involved in mergers and acquisitions and capital financing transactions. He also advises private companies going public on capital-raising strategies, reverse mergers, initial public offerings and the securities registration process.