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UHY LLP has extended its reach in upstate New York and added new partners as the area's second largest accounting firm continues to grow in an increasingly competitive market.
Howard Foote, managing partner of UHY's Albany office, said the recent moves are about positioning the international accounting firm — which got its U.S. start in Albany as Urbach Kahn & Werlin — for the middle market. It has 54 CPAs in the Albany region, according to the Business Review's 2020 List. Its clients are focused in manufacturing and technology, closely held businesses and financial services.
To expand on that regional, middle-market approach, Foote said UHY sees opportunity as the accounting industry continues to consolidate and become more complicated. New technologies, regulations, global pressures and a tight job market are making it harder for smaller firms to compete. As partners look to retirement, merging with a larger firm often offers a greater value for clients and themselves.
Bringing in new partners from Big Four firms, Foote said, can also help the company prepare its next generation of leaders.
Click here to read the entire article, published in the Albany Business Review.