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ABD Acquires Two Benefit Firms

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NU Online News Service, Dec. 19, 9:46 a.m. – ABD Insurance and Financial Services, Torrance, Calif., a unit of Greater Bay Bancorp, Palo Alto, Calif., has acquired Rothman Marks Inc., Los Angeles, and Peter Haft Insurance, Sacramento, Calif., two employee benefit firms.

The price and other deal terms were not released.

Rothman Marks specializes in selling and administering 401(k) plans and Peter Haft Insurance sells a variety of benefits products. The agencies handle a total of more than 30 large commercial accounts.

ABD will be hiring Darryl Marks and Rachel Teller, two successful advisors from Rothman Marks, as well as Peter Haft from Peter Haft Insurance.