New York City-based accountant Marks Paneth & Shron, ranked number 28 ranking of the top 100 firms by Accounting Today with revenues of $74 million, has merged with Tarrytown-based Platt, Barth, Elson & Steinman.

Both firms specialise in high net worth individuals and their families, along with closely held businesses, according to MP&S spokesperson Carolyn Moses. The two firms will operate under the name of Marks Paneth & Shron but will maintain Platt's old office in Tarrytown.

With the merger, MP&S has also acquired two new partners, Paul Elson and Marshall Steinman, bringing the total partner count up to 58. The combined firms have a total of 450 staff members.