A 1990s name makes a comeback with help from George Shaheen, who led it for more than a decade
The revival comes courtesy of Andersen Global, a tax business founded by alumni of the firm’s former parent company, auditor Arthur Andersen, which collapsed in 2002 after the Enron accounting scandal.Andersen Consulting, one of the most powerful professional services brands of the 1990s, is set to be resurrected with the aid of the man who led the consulting firm for a decade.
Andersen Global was founded 23 years ago by Mark Vorsatz, a former Arthur Andersen tax partner, originally under the name WTAS. It acquired rights to the Andersen brand and renamed itself in 2014. The business is structured as an alliance of independent member firms and other affiliates with combined annual revenue of $2.5 billion.Young people are rejecting work.
Andersen Global has also appointed Morgan Stanley to explore a flotation of its US business, which could unlock capital to acquire other member firms and more tightly integrate the new consulting business. Shaheen has been co-ordinating business development for Andersen Global’s new member firms, with the aim of providing a suite of consulting services from strategy advice and IT transformation to cyber security and sustainability. He said it would not compete in one of Accenture’s main businesses as an outsourcing service provider.
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