• April 2, 2023

Tesla Electric Semi Recalled After Just A Few Months On The Road

Tesla’s electric Semi trucks are being recalled over a faulty electronic parking brake, according to a notice posted online by the NHSTA. The recall comes after Tesla made its first deliveries …

How To Ruin Your Kids With A Lousy Estate Plan

Introduction Estate planning is primarily about the transmission of wealth. However, it should be about much more. Many people don’t want to delve into family skeletons or tackle emotionally charged issues. …

Financial Trauma Is Real: Why Black People Should Consider Financial Therapy

April is financial literacy month and the month-long celebration often comes with appeals to low-income and marginalized communities that suggest the silver bullet to their financial woes is financial literacy–and it’s …

In March, “China Wealth” profiled MBP as a successful New York-based accounting company in China that is now on the move in Southeast Asia with plans to open an office in Singapore this month. (See link here.) It currently has about 150 staff and five offices in China.

Marcum LLP (ranked No. 15 by Accounting Today) and Friedman (ranked No. 33) this week disclosed a plan to merge Friedman into Marcum, creating a national top-12 accounting firm with approximately $1 billion in annual revenue and more than 3,400 employees, the two companies said in a press release.

MBP fits into that as a joint venture between Marcum LLP and Bernstein & Pinchuk; the new combination of Marcum LLP and Friedman, to be operated under the Marcum brand and headquartered in New York, would result in MBP absorbing Friedman’s Asia practice, which currently has two China offices, MBP said.

“The merger between MBP and Friedman’s China practice combined with our expansion to Southeast Asia will substantially increase the resources that we can provide clients in Asia by nearly doubling both the staff and the number of clients we serve in the region,” MBP’s Co-Chairman Drew Bernstein told me by email.


“Rather than licensing the Marcum brand to independent entities, our strategy is to provide a fully integrated, 24/7 service model in which teams on both sides of the ocean collaborate to reduce cycle times and access expertise across the organization,” he said.

“While there continues to be a lot of focus on the conflicts in the U.S.-China relationship, we continue to believe that the American capital markets offer unmatched advantages to growth companies in Asia who are willing to commit to rigorous financial reporting and governance standards. The merger plants a flag signaling our long-term commitment to this market,” Bernstein said.

The merger is expected to close in the summer of 2022.

See related posts:

China’s U.S. Ambassador Talks Pew Poll, Trade, Air Travel: Exclusive Interview

AmCham President Sees Frustration, Risks As Beijing Starts Covid Mass Testing



Leave a Reply

Your email address will not be published.