The announcement came as Andersen Consulting partners, meeting at the firm’s annual conference in Florida, revealed they were ‘extremely close’ to revealing new branding. They are also discussing the possibility of flotation.Under the terms of the split it must ditch the Andersen name by the end of the year.
Arthur Andersen’s revenues – representing a 15.4% increase on 1999 – means the firm has achieved double-digit growth for the past seven consecutive years and 11 of the past 12 years.
Lou Salvatore, interim worldwide managing partner, said: ‘The results demonstrate that our clients are looking for the breadth of services that Arthur Andersen offers and that will help them succeed in the new economy.
‘It is also an endorsement of our ability to deliver those services in an integrated, global structure – one of the most significant points of differentiation, we believe, for Arthur Andersen,’ he added.
The Andersen break-up