Hartford Business Journal

HARTFORDBUSINESS.COM | MAY 13, 2024 5 BIZ BRIEFS Municipal Banking by an Experienced Municipal Banker Tracy Sicbaldi V I C E P R E S I D E N T C O M M E R C I A L A N D I N S T I T U T I O N A L B A N K I N G t s i c b a l d i @ b a n k a t p e o p l e s . c o m Meeting the banking needs of government entities and institutions takes experience, an understanding of solutions, and a personal approach to customer service. Tracy has over 20 years of experience in the business and has served as a municipal treasurer. She understands and can provide solutions to help overcome challenges municipalities face. Contact Tracy Today bankatpeoples.com Member FDIC guilty to money laundering charges in November, and was sentenced in late April to four months in prison. The sentencing concludes the federal probe of Binance, the world's largest crypto exchange, and is part of a settlement deal with prosecutors that included Zhao stepping down as CEO and paying a $50 million fine. Binance was also ordered to pay $4.3 billion in penalties. In the wake of Zhao's guilty plea, state Banking Commissioner Jorge L. Perez issued an order suspending Binance's license to operate in Connecticut and ordered the exchange to cease and desist "from engaging in unsafe and unsound practices." The 14-page order also included a notice of intent to revoke the exchange's money transmission license. CT-based Subway completes $9.6B sale to private equity firm Sandwich chain Subway, based in Shelton and Miami, has completed its sale to Roark Capital, an Atlanta‐ based private equity firm that owns other prominent fast-food franchises. The deal was originally announced in August. A purchase price wasn't disclosed, but the Wall Street Journal reported previously that Roark's offer was about $9.6 billion. That would make the deal the second-largest acquisition of a U.S. restaurant chain since at least 1995, according to the WSJ. Subway has deep Connecticut roots and was founded by Fred DeLuca and Peter Buck in Bridgeport in 1965. For decades, the company remained closely held. Downtown Hartford nightlife venue reopens under new name, owner A fixture in downtown Hartford's bar scene, The Russian Lady, has reopened under a new owner and name, following a shooting outside the premises last year. Now called just "The Lady," the venue describes itself as "the premier nightclub in downtown Hartford," with three floors, four bars and a seasonal rooftop lounge. The new owner is JCH Enter- tainment LLC, which is controlled by Jonathan C. Heggenhougen of South Windsor. The Russian Lady voluntarily shut down in November after an alterca- tion between security guards and a patron. After a brief reopening, there was a shooting outside the venue in December. These CT-based CPAs were named to Forbes' Top 200 list Forbes magazine has named four Connecticut-based CPAs to its annual list of America's Top 200 CPAs. The list, created by editorial staff, is culled from a compilation of nomina- tions from individuals and associa- tions of CPAs across the country. The Connecticut honorees were: • Drew Andrews, CEO of Whittlesey in Hartford; • Mark Crowley, managing director of Deloitte in Weston; • Lisa Willauer, founder of FML in Glastonbury; • Heather Ziegler, managing partner of Deloitte in Stamford. Murtha Cullina to merge with NY law firm, consolidate New Haven offices Law firm Murtha Cullina, which is headquartered in Hartford, has signed an agreement to merge with Rochester, New York-based Harrison Beach, creating a "heavyweight regional firm," the companies announced. Murtha Cullina has three Connecticut offices – Hartford, New Haven and Stamford – along with offices in Boston and White Plains, New York. As of 2023, Murtha Cullina had 62 attorneys in Connecticut and was ranked the 11th-largest firm in Greater Hartford, according to HBJ's Book of Lists. Harris Beach is a larger firm, with 13 offices, mostly in New York State. It also has offices in New Haven, Washington, D.C., and New Jersey. The newly combined firm, named Harris Beach Murtha, will have more than 250 attorneys across 15 offices. Harris Beach CEO Chris Jagel and Murtha Managing Partner Andy Corea will co-lead an interim advisory committee. A Subway restaurant. PHOTO | CONTRIBUTED Andy Corea

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