Rothstein Kass has added HC Associates LLC to its Business Advisory Services Group.
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HC Associates CEO Edward R. Tedeschi and president and chief operating officer Carl J. Versella have joined Rothstein Kass as principals. The firm said they would continue to provide customized consulting services to clients including hedge funds, fund of funds, institutional investors, family offices, asset managers, banks and broker dealers.
The addition of the HC team in San Francisco continues the nationwide expansion of Rothstein Kass’ advisory practice and services. Financial terms of the deal were not disclosed. Rothstein Kass ranked 22nd on Accounting Today’s 2011 list of the Top 100 Firms, with $179.5 million in annual revenue.
“We have enjoyed a strong professional relationship with Ed, Carl and the HC team for more than a decade and, during that time, have developed a deep appreciation for their industry knowledge, practical approach to problem solving, and commitment to exceptional client service,” said Rothstein Kass co-CEO and co-managing principal Steve Kass in a statement. “Rothstein Kass recently crossed the 1,000 employee threshold. As we look to keep pace with growing demand for our services, we are keenly focused on preserving the cooperative culture that has been the foundation for exceptional client service, while at the same time enhancing the scope and quality of the offerings we provide.”
As members of the Rothstein Kass Business Advisory Services Group, the HC team will continue to focus on strategic business planning for sophisticated clients, including due diligence services, treasury management, counterparty credit / risk management, service provider analysis, compliance services and interim role responsibilities. Consulting services across disciplines include finance, operations, compliance, credit and risk, and technology support, complementing existing capabilities.
Tedeschi founded HC in San Francisco in 2002 and brings over 30 years of operating experience to his new position at Rothstein Kass. Before establishing HC, he was chief operating officer for Genesis Merchant Group. Before relocating to San Francisco in 1993, he held several senior positions at Morgan Stanley. His career commenced in 1979 with Goldman Sachs. He is a recognized leader and spokesman for the alternative sector.
Versella joined HC in 2005 and expanded the firm’s regional presence by opening an office in New Jersey. He has 30 years of related experience encompassing senior positions at Credit Suisse, Morgan Stanley and Tiger Management. Mr. Versella began his career at Goldman Sachs.
“Rothstein Kass is consistently one of the top-ranked financial services firms, and has long served as a trusted service provider to the alternative investment industry,” said Tedeschi. “When evaluating this decision, we noted that the core beliefs of the Rothstein Kass team mirror our own: client service, senior-level attention, and a commitment to education and mentoring.”