Jul 19 Sax LLP CEO and Managing Partner Joseph Damiano Ranks Seventh in 2022 NJ Biz Accounting Power 50
—Under Damiano’s Leadership, Sax LLP Revenue and AUM Have More than Doubled, Firm Expanding Locations Globally —
Parsippany, NJ – July 20, 2022 – Joseph Damiano, Sax LLP CEO and Managing Partner, is ranked seventh in the 2022 NJ BIZ Accounting Power 50 that names the top 50 certified public accountants (CPAs) in New Jersey. The top 10 placement is the third consecutive year in which Damiano was named to the prestigious list and is testament to Sax’s unprecedented growth that includes more than doubling its assets under management (AUM) and revenue under Damiano’s leadership.
Since being named Managing Partner in 2015, Damiano has initiated a company culture and organizational direction that emphasized Sax LLP taking on a more business advisory role for its clients. With the new initiatives, Sax LLP has expanded from a single office to four locations by the end of 2022, including the firm’s first international office in India. AUM has risen to $1.5 billion from $656 million in 2015 and revenue rose from $27 million to $64 million during the same period. Sax LLP has grown from 20 to 44 partners, and now has more than 200 full-time employees.
“It is an honor to be named one of the top 10 accountants in New Jersey. Sax LLP has experienced exponential growth over the past few years. We will continue to provide our clients with exceptional service and advisement so they can navigate through these challenging times,” said Damiano. “I share this award with everyone at Sax LLP, as it is a testament to the talent and commitment of the entire firm.”
Sax LLP is also committed to the New Jersey community, under Damiano’s guidance. The firm has helped raise nearly $680,000 for St. Joseph’s Children’s Hospital in Paterson through its annual 4 MILER fundraiser. It has also made an impact on local non-profits, including Paterson Habitat for Humanity, The Community Food Bank of NJ, American Cancer Society’s Making Strides Against Breast Cancer, and Oasis – A Haven for Women and Children, a 501(c)(3) non-profit organization with a mission to change the lives of women and children.
The award for Damiano is the most recent accolade for Sax LLP. The firm ranked 96 on NJBIZ’s Top 250 Privately Held Companies in New Jersey list and 25 on Construction Executive’s top accounting firms nationwide with a construction practice. Sax was only one of two New Jersey firms named a Top 100 firm nationwide by Accounting Today, ranking 87. Additionally, Sax Wealth Advisors was named the 35th CPA firm in the country based on assets under management (AUM).
About Sax LLP
Sax LLP is a Top 100, multi-disciplinary accounting, tax and advisory firm serving the needs of closely held companies, family-owned businesses, not-for-profit organizations and high-net-worth individuals. For 65 years, we have offered industry-specific expertise, comprehensive service offerings and customer-centric results. Licensed to practice in NJ, NY, PA and CT, Sax has multiple offices in New Jersey and New York.