December 29, 2015
Marcum's recent mergers were featured by Long Island Business News in a year-end retrospective on corporate consolidations.
By Claude Solnik
Mathematics has always been an important part of anything involving money. But in 2015, banks were doing a very different type of addition, uniting forces by merging. Others rolled out new branches, sometimes heading for the Big Apple. Financial institutions raised funds while accounting firms merged, changing the Long Island landscape of financial services. As the pieces in the banking puzzle moved around, the federal trustee tried to reassemble the puzzle comprised of money lost to Bernie Madoff.
Together, these all made 2015 a year of consolidation and growth even amid the wait for interest rates to rise. While that happened as the year ended, many other changes occurred, often attracting far less attention.
Marcum, with large Melville operations, expanded around the nation with mergers that gave it operations in some of the nation's biggest markets.
The firm in November merged Chicago and Deerfield, Ill.-based Frost, Ruttenberg and Rothblatt into its business, marking its entry into the Midwest and bringing additional healthcare expertise.