Andersen Global, the international network founded by a group of former partners from Arthur Andersen, unveiled a global valuation practice Wednesday.
The San Francisco-based firm said the new valuation practice would span over 20 countries across Europe, Latin America, Asia and North America, but did not specify which countries besides the U.S.
Andersen has been expanding across the U.S. and other parts of the world since the firm name was revived in 2014 by a group of former partners who called it Andersen Tax. Earlier this year, Andersen said it was widening its footprint across the U.S. after rapid expansion over the past decade abroad, adding professionals in Orange County, California, Des Moines, Iowa, and Pittsburgh.
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Much of the expansion globally has occurred in tax and legal services, but the firm has avoided getting into the audit area that led to the demise of the original Arthur Andersen after accounting scandals involving clients like Enron and WorldCom in the early 2000s.
Valuation is a service that some members of its network have been offering, especially in the U.S., and now it will become more of a global service.
“Tax, legal and valuation are intricately related, yet no other professional services firm offers all of these capabilities on a global scale under one roof,” said Andersen Global chairman and CEO Mark Vorsatz in a statement Wednesday. “Our vision at Andersen is to create a platform where clients can have a seamless experience working with one multidisciplinary firm they can trust, anywhere in the world. We’re aiming to become one of the largest independent valuation firms in the world within the next few years.”
The network’s new global valuation practice is led by managing director Sid Luckenbach, who has been national leader for Andersen’s valuation offering in the U.S. for the past 18 years.
“Business structures and financial instruments are becoming more complex,” Luckenbach said in a statement. “It gets even more complicated when you’re dealing with cross-border and multijurisdictional transactions. That’s why the traditional approach is no longer sufficient. Our global valuation practice brings together deep expertise and the geographic reach that clients need, regardless of where their assets are located.”
Andersen Global currently counts more than 14,000 professionals across the world in over 400 locations.
