Citrin Cooperman & Company, LLP

Citrin Cooperman & Company, LLP Company Profile

THE SCOOP

The young entrepreneurs

Joel Cooperman and Niles Citrin were still in their 20s when they founded their eponymous firm in 1979.  The pair started their careers at a larger, established public accounting company; building their own business from the ground up made Citrin and Cooperman particularly interested in the challenges entrepreneurs face.  As a result, Citrin Cooperman focuses primarily on closely held businesses-the firm doesn't audit public companies at all.  Citrin Cooperman & Company is based in New York with offices in White Plains, N.Y.; Springfield N.J.; and Philadelphia, Pa.  As of November 2008, the company had a staff of 330 employees including 75 partners.

Accounting and auditing is Citrin Cooperman's largest department, with a specialization in audit, review and compilation engagements. The firm's tax department is the next largest, responsible for tax research and planning, business tax return reviews, preparation of individual tax returns and estate tax planning.  Citrin Cooperman also offers business consulting services, including benchmarking, management advisory and feasibility studies.  Other specialized services include litigation support, succession planning, mergers and acquisitions, fraud analysis, operational reviews and purchase investigations.

New leadership

Longtime Citrin Cooperman partner F. Wayne Holton was named as the new chief executive of the company in August 2008.   The firm cited its significant growth as the reason for creating a CEO position within the firm.  Co-founder Joel Cooperman remained the firm's managing partner, but shed many of his administrative responsibilities; he'll work with Holton on the "general growth of the firm."  Holton, age 65, has more than 40 years of experience in the accounting profession.  Before he joined Citrin Cooperman in 2000, he was the managing partner of his own firm, Holton Associates.     

Holton is optimistic about his tenure in the office, and sees the transition as more of a partnership in leadership than a handoff.  "What excites me the most about this is being given the opportunity to help make a great firm even better," he said at the time of the appointment.  "Joel has never had a CEO before, so this is going to be an evolutionary process that will grow and change over time.  The most important thing is that we're going to make it work."

Employee-friendly

In October 2008, Citrin Cooperman was recognized in Accounting Today's Best Accounting Firms to Work For rankings in the category of large-sized firms.  Citrin Cooperman was one of 60 firms and one of only 15 large-sized (more than 250 employees) to receive the honor.  Accounting Today evaluated "workplace policies, practices, philosophies and demographics" before designating the companies that would receive this recognition.  Some of Citrin Cooperman's "employee-friendly" programs include Citrin Cooperman University, a continuing education program for young accountings; a paid Sabbatical program for employees who have been working for the company for more than six years; a partner-employee mentoring program; and an international work exchange program, which allows its employees the opportunity to work at accounting firms overseas.

Philly pride

Citrin Cooperman & Company has been working hard in the past year to make significant inroads into the Philadelphia market.  This continued with the November 2008 acquisition of Matarazzo, Goldis & Co., a small accounting firm based out of Narberth, Pa.  Matarazzo, Goldis & Co. was the second acquisition in a year that Citrin Cooperman & Co. made in the Philadelphia area.  The first was a merger with Mandeloff Silver Ryan in November 2007.  Matarazzo Goldis employees were moved to Citrin Cooperman's Philadelphia office in Center City.

The more recent merger fit into Citrin Cooperman's agenda of working with start-ups and small businesses.  Matarazzo Goldis works mainly with entrepreneurial companies in the Philadelphia-metropolitan area, specializing in medical practices and law firms.  The company had annual revenue of approximately $1.5 million.  Stanley Goldis, managing partner at Matarazzo, Goldis said that he was impressed with the amount of progress Citrin Cooperman has made in the short time it had been working out of the region.  "Citrin Cooperman has been in the Philadelphia market for one year," he said in a press release, "and they've already gained a strong reputation for helping their clients to succeed in difficult times."

Marketing maven

Citrin Cooperman announced in October 2008 that it had hired a new marketing director, Anca S. Munteanu, to join its team.  Munteanu came to Citrin Cooperman with over 14 years of marketing experience, including positions with several midsized accounting firms as well as larger financial services companies such as Prudential Securities and Merrill Lynch. 

The hire was the latest move in a targeted campaign to "get out the word" about Citrin Cooperman, especially in the Philadelphia area.  In September 2008, Citrin Cooperman launched a series of print and radio advertisements in the Philadelphia that stated the company would do "Whatever It Takes" to ensure the happiness of its clients.  It used real-life examinations to illustrate the credo, including an instance when Joel Cooperman was "lowered into a garbage chute to ensure for a client that a cleaning process truly worked."

 

Talking taxes

At the height of tax season in 2008, New York state residents of the lower Hudson Valley and Westchester County could hear the thoughts of Citrin Cooperman employees on a weekly radio show called Talking Taxes.  The show was hosted by Citrin Cooperman tax partner Patrick Daly, and tax supervisor, Andrew Rotter, every Wednesday morning from February to May 2008 on WRCR 1300AM.  The program addressed current tax issues such as the Pension Act and the Energy Act, as well as the Alternative Minimum Tax, charitable giving and financial planning.  Talking Taxes was an effort to educate local business owners while raising the accounting firm's profile in the region. 

 

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Citrin Cooperman & Company, LLP


529 Fifth Avenue
Second Floor
New York, NY 10017
Phone: (212) 697-1000
Fax: (212) 697-1004
www.citrincooperman.com

STATS


  • Employer Type: Private
  • Managing Partner: Joel A. Cooperman
  • 2010 Employees: 342

Major Office Locations

  • New York, NY

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