A Midwestern accounting firm ally to fundsters has completed its planned acquisition of a competing business.

Christopher "Chris" Bellamy Cohen & Company CEO

Chris Bellamy, CEO of Cohen & Company, and Jim Kaiser, partner of assurance at Cohen, confirm that on Monday Cohen closed on its purchase of BBD, LLP's investment management group. The deal was first unveiled a month ago.

Kaiser, who previously served as managing partner of BBD-IMG, lauds Cohen as a firm that shares BBD's "values, goals, and vision for the future."

"The combined strength of our teams will create meaningful opportunities for our current staff and will help to ensure that our clients continue to receive the high level of service they have come to expect from both firms," Kaiser states. "Added capacity and expertise will also continue to differentiate us in the market and will be a huge win for clients and for any new candidates looking to build a career in a great firm."

As expected, the deal boosts Cohen's investment industry services group to 300 people, serving 1,500 public funds and 1,000 private funds. And the deal brings Cleveland-based Cohen a new office in Philadelphia (BBD's hometown).

"This addition reflects our continued commitment to exceed client expectations with deep industry knowledge and a strong team," Bellamy states. "We also look forward to becoming part of the community in Philadelphia."

Cohen now lays claim to being the second largest ETF auditor (by number of funds), the 4th largest auditor of registered funds, and the 10th largest auditor of hedge funds. In addition to working with mutual funds, ETFs, and alternatives, the Cohen investment industry services group also support RIAs, fund service providers, and CITs. 

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