PARK STRATEGIES ACQUIRES RISKMANAGEMENT FIRM

Former U. S. Senator Alfonse M. D'Amato, principal managing director of Park Strategies, LLC, today announced the acquisition of The Compass Company Consultants, Inc., also known as The Compass Co, Inc., a risk management and insurance consulting firm located in New York's Capital District. The firm, owned and operated by Edward W.S. Neff, CPCU, ARM, has been in business for over forty years and has operated out of Albany and Troy, New York since 1995.



Mr. Neff will remain with the company, where he will play an integral role in implementing an expansion plan for the company. "As Park Strategies continues its diversification into a full-service strategic business planning organization, we felt it critical to develop solid risk management capabilities," Senator D'Amato said. "With the addition of Greg Serio, former superintendent of insurance for the State of New York to the firm as a managing director in 2005, and now with the acquisition of Compass and a proven risk management professional in Ed Neff, we are taking a major step in that direction."



Neff said, "Compass is being passed into very capable hands with this transaction. Senator D'Amato's team at Park Strategies, which has developed a tremendous reputation in the area of strategic business planning, is well-suited to not just assimilate Compass, but to take it to the next level."



The Compass Co., which grew out of an insurance agency formed by Mr. Neff in the mid-1960s, achieved significant growth during the 1990s with the acquisition of the book of business of the Capital Region's CONFIRM, Inc., a leading risk management and insurance consulting firm operated by James Faughnan. Compass is an independent fee-for-service risk consulting organization; it neither places insurance business nor receives any fees or commissions for the placement of insurance from insurance agents or carriers. D'Amato said, "We were particularly attracted to Compass because it serves only the client to whom it is providing risk management and insurance strategy advice, and does not try to balance the interest of the client with the interests of insurers or other parties."



Serio, in addition to his other duties as managing director of Park, and Neff will oversee the day-to-day operations of Compass.



The transaction closed on October 31, 2007.

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