ParenteBeard LLC Announces Combination with Pressman Ciocca Smith LLP

8 Dec 2010

Combination Enhances Philadelphia Regional Presence

ParenteBeard LLC and Huntingdon Valley-based Pressman Ciocca Smith LLP have combined practices, effective 1 December 2010. The firm will operate under the name ParenteBeard.

"ParenteBeard's entrepreneurial spirit and proactive approach to growth has always been central to our success," said Bob Ciaruffoli, ParenteBeard chief executive officer. "This is an excellent strategic opportunity for ParenteBeard. By combining with Pressman Ciocca Smith, we are joining forces with a local, well-established and highly respected firm that shares our focus on excellence and is committed to providing outstanding client service. This combination builds on our existing strength in the Philadelphia region."

ParenteBeard is the Mid Atlantic's leading regional certified public accounting and business advisory firm with 1,000 employees serving middle market and small business clients across the region. The 150 partner firm has offices located in Pennsylvania, New York, New Jersey, Maryland, Delaware and Texas. The firm is ranked among the top 25 firms in the USA and is an independent member of Baker Tilly International. Established in1940, Pressman Ciocca Smith brings three partners and 20 staff members to the combined practice. Both firms provide comprehensive audit, accounting, tax, and consulting services to large and small companies in a number of industries, including manufacturing, distribution and wholesalers, education, construction, and not-for-profit.

"This combination provides extensive benefits to our clients and our team members," said Rowland Smith, co-managing partner, Pressman Ciocca Smith. "By combining with a firm of the calibre of ParenteBeard, we expand our service offerings and create opportunities for our team. Our deep commitment to client service is enhanced with added resources and capabilities. This is truly a "win-win" for our clients."

Smith added that in today's challenging business environment, it is more important than ever to look for new ways to help their clients achieve their goals. "This combination is a perfect example of two firms coming together to provide more resources and services to give our clients the edge they need to stay competitive," said Smith.

Smith expects the transition will be seamless as both firms share the same values, culture and commitment to quality services. "While Pressman Ciocca Smith's name is changing to ParenteBeard, clients will still be working with the same people that they have come to know and trust through the years. In combining with ParenteBeard, we are positioning ourselves to strengthen the range of personalised services we deliver," noted Smith. "By employing exceptional client service that is our hallmark, our partners and team members will continue to provide our clients with the professional services they want and need."

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