Interbank Communications Purchases Furash

Financial services consulting firm Furash & Co. has been sold to Interbank Communications Inc., a company based here that advises the banking and hospitality industries.

"We are absolutely delighted at this move because of Interbank's fit with Furash, the strategy it wants to pursue, and its capacity to fund that strategy," said Edward E. Furash, chairman of the 20-year-old firm, on Tuesday.

Furash's former parent, New York-based Headway Corporate Resources Inc., decided in 1996 to focus solely on the human resources business. As a result, the company has made nine acquisitions in that industry and decided to sell Furash.

"Furash has consistently delivered high-quality advisory services and has a strong reputation in the financial services industry," Headway chairman and chief executive officer Gary Goldstein said in a statement. "However, it no longer fits in the long-term strategic vision for the company."

Mr. Furash said that during the last year his firm has been expanding its consumer financial services consulting practice. The acquisition by Interbank will help his firm continue that push, he said.

As a result of the deal, Furash vice chairman Kathleen McClave will become president and chief executive; Mr. Furash will continue as chairman.

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