Banking & Finance

Cohen Acquisition Should Benefit Youngstown Office

CLEVELAND – The union of Cohen & Company and Arthur Bell, based in Baltimore, should benefit the Youngstown office of Cohen, Chris Bellamy and Corey McLaughlin say.

Bellamy and McLaughlin are co-presidents of investment industry services for Cohen. Bellamy comes from Cohen, McLaughlin was managing member of Arthur Bell, but say they’ll run their division as equals.

The two public accounting firms will operate under the Cohen name and become one of the top-50 CPA firms in the nation, the Cohen-Bell announcement says. Pro forma, the larger Cohen firm will have more than 550 employees in nine offices that stretch from Wisconsin through Michigan, Ohio, Pennsylvania, New York and Maryland. The firm is projected to have nearly $100 million in revenues from its worldwide operations.

The firms decided to join forces based on their services to the investments industry, the audit of mutual funds in particular, Bellamy and McLaughlin say.

To that end, the Youngstown office in the Commerce Building downtown, should grow to 65 employees from 50. “We’re expanding our office again,” Bellamy says.

Chris Bellamy will serve as co-president of investment industry services.

The local office recently expanded from 35 with much of that growth coming from its support in providing audits of mutual funds and privately managed alternative investment funds.

Cohen works with more than 1,000 funds and 1,500 businesses across the United States. The announcement says, “With the depth of audit and tax expertise for both registered and nonregistered funds,” the announcement continues, the larger firm’s “caliber of service and technical aptitude is unmatched.”

The larger Cohen “becomes the premier firm of the alternative investments industry,” Bellamy says.

Its investment industry services division is “focused on providing audit, attest and tax services exclusively for the investment industry,” the announcement says, “and has a national client base [composed of] mutual funds, ETFs, hedge funds, private equity, investment advisers and fund services providers.

SOURCE: Cohen & Company.

Published by The Business Journal, Youngstown, Ohio.