Managing Partner Jim Wadia described it as a new strategy that ’embraces historic shifts in the economy; focuses on the growing importance of intangible assets; and positions the organization to help clients create, measure and manage value in the new economy.’
He added: ‘Gone are the days when a company could pinpoint its key assets solely by looking at its industrial strength, its plants and its hard assets.
‘Wealth creation and management are not enough in a world that values speed, networking and information. With our global reach and seamless delivery of services, Arthur Andersen helps clients realize value from both tangible and intangible assets.’
As part of this the firm has also announced it is establishing Arthur Andersen Ventures, initially a US $500 million venture fund to provide equity financing of advisory and outsourcing services to early stage companies focused on business-to-business commerce, new media and Internet-based services.
It will also support the organization’s global investments in strategic alliances and joint ventures.
‘Arthur Andersen Ventures is the first of multiple funds we are considering,” Wadia said. ‘The potential of these strategic investments and alliances is enormous, both for what we can bring to clients and in opportunities for our people.’
The firm also announced that Arthur Andersen Ventures has formed a strategic alliance with U.S. Venture Partners, a leading Silicon Valley venture capital firm. As part of the relationship, the portfolio companies of U.S. Venture Partners will have access to Arthur Andersen’s range of services and distribution network.
Arthur Andersen also announced today a new Internet venture to leverage the value of intellectual property assets. In partnership with Lend Lease Corporation (Australia), and the ICM Group, the leading intellectual capital management consulting firm, this business-to-business venture will provide a broad range of capabilities to manage intellectual property assets.
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The firm has redesigned its website, which can be viewed at www.arthurandersen.com