PracticeAccounting FirmsPartners begin exodus from Andersen

Partners begin exodus from Andersen

Andersen have today admitted that three partners have already jumped ship to rival firm Deloitte & Touche marking the first signs of an exodus from the besieged firm.

Andersen’s Uk senior partner John Ormerod has spent the past week telling various media outlets that his firm will weather the fallout from Enron, but the departures reveal staff are already feeling the effects.

Ormerod this week moved to reassure UK companies after he said the viability of the UK firm would not be threatened by the Enron affair.

Cambridge office managing partner Stuart Henderson and fellow partners Paul Schofield and David Holstead are to leave Andersen for rival firm Deloitte & Touche as the Big Five struggles to restore trust in its services while the US watchdog, SEC, continues its probe.

Cambridge is a growing hub of start-up technology companies and the loss of Andersen partners could signal a window of opportunity for rival firms to recruit top staff.

Halstead was head of technology, while Scholfield was made partner to head up the audit and assurance arm at Cambridge.

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