Accounting company RSM McGladrey and its auditing sister McGladrey & Pullen are now operating under the common brand McGladrey, while continuing to maintain separate corporate structures.
In Connecticut, McGladrey has offices in Stamford, Farmington and New Haven. A subsidiary of H&R Block Inc. based in Minneapolis, McGladrey ranks as the fifth largest U.S. provider of tax and consulting services, with $1.5 billion in annual revenue. According to surveys published by the Fairfield County Business Journal, the company has the fourth largest number of certified public accountants locally, behind Deloitte Inc., KPMG L.L.P. and PricewaterhouseCoopers L.L.P.
U.S. BANKER
No Connecticut bank appeared on a U.S. Banker list of the top 200 institutions ranked according to their average return on equity between 2007 and 2009, though three New York City area banks cracked the top 10.
U.S. Banker is published by the American Bankers Association (ABA).
With a 20.5 percent return on equity, the top performing bank in the Northeast was Suffolk Bancorp. The Riverhead, N.Y.-based bank ranked third nationally, one slot ahead of New York City-based Country Bank Holding Co. Inc. and trailing HBancorporation Inc. of Lawrenceville, Ill. (25.2 percent) and Guaranty Bancshares Inc. of Mount Pleasant, Texas. Placing sixth was Bridge Bancorp Inc. of Bridgehampton, N.Y.
Pennsylvania placed the most banks on the list with 31 total.
CITIGROUP
In a separate study published by ABA and Michael White Associates, bank holding companies nationally were found to have increased insurance sales nearly 40 percent between 2008 and 2009.
Citigroup Inc. led all banks with more than $3 billion in revenue from insurance in 2009, followed by Bank of America Corp. and Wells Fargo & Co. The list includes companies that converted to a bank holding structure following the collapse of the financial markets in 2008, and which do focus on offering traditional, branch-based retail banking services, such as American Express and Goldman Sachs Group Inc.
CitiFinancial
The CitiFinancial unit of Citigroup is shutting a branch in Brookfield, among nine in Connecticut and 320 nationwide.
CitiFinancial provides mortgages, home equity lines of credit and other loans, and is among a group of holdings Citi is in the process of restructuring.
