Houston-based accounting firm MaloneBailey LLP is expanding to New York by acquiring the client base and some key personnel from the New York firm Kempisty & Co.
MaloneBailey focuses on audit and tax services for small and midsized companies, and performs audits for a number of Chinese companies. Its client base for SEC audit services includes over 120 SEC registrants.
Managing shareholder Philip Kempisty will be joining MaloneBailey as a non-equity partner and bringing over eight other employees from his firm. He will be focusing on developing MaloneBaileys presence in the Chinese market from New York, as well as bringing over his own SEC clients to the firm.
The plan for the moment is that Phil will continue to be based in New York, said MaloneBailey managing partner Wesley Middleton. We already have a partner in Houston who is fluent in Mandarin Chinese, and we have a strong clientele base in China. We are going to continue to grow that market because of the expertise we have in that area.
His firm earns approximately $12 million in revenue, while Kempisty will be contributing about $3 million from his practice.
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