Andersen Tax was founded in 2002 by 23 former Arthur Andersen partners under the name WTAS. On September 2, 2014 WTAS announced it had acquired the rights to the iconic brand name Andersen and would rename itself Andersen Tax. Today, Andersen Tax is one of the largest independent tax firms in the world. Read on to learn more about Andersen Tax in the past, present and future.
On July 9, 2002, in the wake of Arthur Andersen's demise, Andersen announced that HSBC purchased a portion of Andersen's tax practice through a new subsidiary, Wealth & Tax Advisory Services, Inc. (WTAS). The new private client services group, led by Mark Vorsatz and joined by Joe Toce and 21 other former Andersen partners, would strive to redefine the professional services industry. WTAS is formed.
WTAS pursues a low leverage business model putting clients at the center. Managing Directors— “Partners” as they regard each other—would “roll up their sleeves” and work directly with their clients. The Partner’s devotion of time and attention to each client would lead to creative and unique solutions, which would ultimately result in the best client service possible.
The firm successfully transitions 92% of its clients to the newly-formed business, adds seven new Managing Directors and increases its client base by 20% in the first year. The firm also grows its practitioner headcount by over 10% in a recessionary business climate.
WTAS acquires the rights to Tax Economics of Charitable Giving publication, recognized as the most authoritative treatment of its kind, and begins plans to publish a new updated version. The authors of this book, Joseph P. Toce, Jr., Byrle M. Abbin, William M. Pace, and Mark L. Vorsatz, are Managing Directors of WTAS.
WTAS continues to establish a benchmark for quality against which all other firms will be measured.
In its second year of business, WTAS implements a client newsletter, establishes a mechanism for internal technical releases, creates an international newsletter and publishes the firm’s first edition of Tax Economics of Charitable Giving.
The firm adds six more Managing Directors (MDs) and now has 38 MDs firmwide. WTAS continues to add new clients, growing nearly 27%. This growth is not necessarily an objective, but rather a byproduct of the outstanding client service delivered by the best and brightest professionals in the industry.
WTAS adds 16 Managing Directors as growth accelerates. Revenues are up almost 27% this year and the client base has doubled since inception. The firm expands its services to better serve clients. New service lines now include valuation, investment consulting services, state and local tax, corporate taxation, real estate services, personal accounting solutions and international tax capabilities.
WTAS opens offices in the Philadelphia and Baltimore markets. The firm will continue to systematically build out its platform.
WTAS expands to Chicago, Palo Alto and Seattle. The firm now has 11 locations. This growth is the result of a very simple concept upon which the firm was founded: providing best in-class service. The firm’s revenue growth reaches 46% for the year. WTAS is now the 11th largest tax practice in the nation, according to Accounting Today.
This year marks WTAS’ fifth anniversary. People have joined WTAS from a variety of firms, including all of the Big Four, and have melded and formed a culture that takes the very best from each of its reference points. The firm shares a common vision for what it wants to be and what it wants to achieve. In less than five years, the firm tripled the size of its client base. It’s time for a change.
On December 31, 2007, in a mutual decision, HSBC signs an agreement to sell Wealth & Tax Advisory Services (WTAS) to participating WTAS Managing Directors in a management buy-out. With the darkening clouds of the global economic recession as a backdrop, the MDs now control their business—WTAS LLC—and welcome the challenges ahead, confident their “clients first” culture will weather the storm.
WTAS relocates to new offices in San Francisco, Seattle, and Greenwich, CT and opens an office in Madison, NJ. Although the bottom falls out of the economy in the latter half of the year, WTAS adds 15 new Managing Directors (MDs) and its total MD complement is now 74. The new MDs expand WTAS’ service capabilities in the areas of state and local taxation, valuation, cost segregation, private equity, corporations and tax controversy. As a direct result of the firm’s dedication to “clients first,” revenue is growing when most other professional services firms are experiencing declining revenues.
Continuing to build on its past success in spite of the difficult economy, WTAS is successful in making the transition from a firm primarily focused on private client services to one that is a full-service tax business and offers competencies in corporate taxation, state and local tax, international tax services, alternative investment funds, valuation, compensation and benefits, and many related subspecialties.
Over the last eight years, WTAS grew its client base fourfold. The firm’s Managing Director complement has grown to 86 with the addition of 13 more. By quantitative measures, the firm has consistently grown by three to four times in every category over an eight year period.
Susan Swartz, Office Managing Director in Seattle, starts the Women @ WTAS initiative to proactively assist in the retention and success of women in our firm.
WTAS has succeeded at putting clients at the center of the firm’s operating model and continues to expand capabilities to meet client’s needs. The firm has evolved from serving primarily the personal needs of high net worth private clients to a point where about 55% of revenues come from private clients, while 45% come from commercial entities.
In the three years since the MDs of WTAS left HSBC, the firm accomplished a tremendous amount despite the worst economic environment since the Depression Era. WTAS’ aim of providing the best client service possible has shown its value more than ever. The success of the firm is linked to the success of its clients.
Preparing for the success of its clients, WTAS relocates and expands its offices in New York City, Los Angeles and Philadelphia.
2012 marks a special anniversary for WTAS. July 9, 2012 marks 10 years as a firm. WTAS believes that service, experience and a genuine concern for our clients are prerequisites for developing long-lasting relationships.
By almost any measure, WTAS has quadrupled in size in the 10 short years the firm has been in existence. WTAS is now one of the largest independent tax advisory firms in the United States, with over 500 people in 14 offices. In the markets we serve, we have the scale and experience of a multi-national accounting firm with the visibility and attentiveness of a local boutique firm.
CEO Mark Vorsatz announces new initiatives to hire military service veterans and involve WTAS personnel even more in volunteer service in their communities. Our Chicago office prepares to move to a new site with twice the space as its present location.
This firm was founded with a dream to be different and to change an industry standard.
WTAS welcomes new Managing Directors Elliott Bossin, Mary Duffy, Kurt Heinrichson, Ellen MacNeil, and John Niemann to the firm. WTAS is now located in 16 major cities in the United States and has an international presence in Europe through WTAS Global. WTAS Global was established in June 2013 by member firms WTAS LLC and PrimeTax AG, a tax only firm based in Switzerland. In November 2013, STC Partners, a business law firm in Paris, joined WTAS Global.
WTAS continues to grow and expand internationally with the establishment of various offices throughout Europe and Russia. In March, WTAS Global announces a new office in Geneva, Switzerland. In April, Taxperience Group, a tax advisory and consultancy firm with locations in Amsterdam, Rotterdam, ‘s-Hertogenbosch, Netherlands and Moscow, Russia, joins WTAS Global. In September, Studio Associato De Vecchi, a third generation firm that provides tax, legal, accounting and financial advisory services with locations in Milan and Brescia, Italy, joins WTAS Global.
WTAS welcomes new Managing Directors David Kapnick, Jim Hogan, Marc Lim and Pat Padon to the firm. In addition, WTAS welcomes two Managing Directors to its 17th U.S. location in Long Island, New York. Peter Crocco and Wayne Trumbull join WTAS as Managing Directors from True Partners Consulting. WTAS Global welcomes new Partners Agnès Aviges and Sébastien Vialar at STC Partners, based in Paris.
A name from the past, a firm for the future: On September 2, WTAS announced it had acquired the rights to the iconic brand name Andersen and would rename itself Andersen Tax. Like WTAS, Andersen Tax is an independent global tax firm with no audit practice that could impair the credibility or integrity of the services it provides. It is completely owned by its partners, most who previously worked at Arthur Andersen or a Big 4 accounting firm.
On September 15, Andersen Tax announced a new presence in Lugano, Switzerland through the addition of MDR Advisory Group, a firm that provides national, international and corporate tax work to individuals and businesses in Switzerland and Europe.
On October 8, Andersen Tax announced expansion in Italy through the addition of two firms in Rome and Venice that will merge together with Studio De Vecchi to form a new entity called Noda Studio.
On December 3, Andersen Tax announced a new presence in Poland through the addition of Sendero Taxperience Sp. Z o.o. Sendero Taxperience is the result of a merger between Sendero Tax & Law and the Poland office of Taxperience, the current Andersen family representative in the Netherlands.
On December 30, Andersen Tax announced a new presence in Germany through the addition of Alegis Gmbh Steuerberatungsgesellschaft in Düsseldorf as well as a satellite in Luxembourg through Alegis S.a.r.l. These locations solidify the growing presence of the Andersen family in Central Europe.
Andersen Global now has more than 32 international locations with over 300 professionals in Europe and over 1000 professionals worldwide. Andersen Tax and Andersen Global added a total of 14 locations in 2014.
Andersen Tax experienced a steady growth in 2014, and is excited to continue this growth in 2015 through our international association, Andersen Global.
In January, the Chicago office of Andersen Tax welcomes new Managing Director Bob McDonald, and adds Private Accounting Solutions Group, Financial Controllers Inc. In February, Andersen Tax welcomes new Managing Director, Brad McKinney to its New York office. In addition, Andersen Tax opens a new location in Orange County, CA. In March, Andersen Global welcomes new Partner Stéphanie Roy and Of Counsel, Mehdi Ouchallal, based in Paris. In May, the US National Tax Office of Andersen Tax welcomes new Transfer Pricing Managing Director, Kevin Kiyan. In June, the firm’s US National Tax Office welcomed another addition, Managing Director, Jeff Malo.
On June 15, 2015, Andersen Global announced its expansion into Latin America with the addition of well-respected firms NOVINT, Capin, Ibañez & Asociados and Montes, Hernández, López y Del Castillo, accounting and law firms, respectively, in Mexico. These firms will be the first in the Andersen Global family to adopt the name. Andersen Tax & Legal will have locations in Mexico City, Guadalajara and Monterrey and expects to add several additional locations before the end of the year.
On June 22, 2015, Andersen Global announced a new presence in Guatemala through the addition of Trust Consulting in Guatemala City. Trust Consulting is the second member firm to adopt the Andersen Tax name and to join Andersen Global in Latin America in 2015.
On June 30, 2015, Andersen Global announced a new presence in Spain with the addition of Global Abogados, a tax and law firm with offices in Barcelona and Madrid.
On August 11, 2015, Andersen Global is proud to announce a new presence in São Paulo and Campinas, Brazil with the addition of INOVV Consultores Associados. After joining the Andersen Family, INOVV will be known as Andersen Tax in Brazil. INOVV is the third member firm to adopt the name and the first to join Andersen Global in South America.
In September, Andersen Tax announces the promotion of eight Managing Directors in local offices. The promotes are Tim Wylie, Kellie Neuhaus, Cathy Elchinoff, Hai Tang, Sean Bruen, Rose DeLuna-Frede, Scott Deichmann and David Bollis.
In December, Andersen Global establishes a new presence in Santiago, Chile with the addition of Landa Consultores. Landa Consultores will adopt the name Andersen Tax – Landa, making it the fourth member firm to adopt the Andersen Tax name and the second in South America to join Andersen Global.
Andersen Global now has 45 international locations with over 1,200 professionals worldwide.
Last year, marked by continual growth and international expansion, saw the first firms in the Andersen Global family to adopt the name Andersen Tax. Looking forward the firm expects to add several additional locations before the end of the year.
In May, Andersen Tax welcomes new Managing Director Lindsay Chamings.
On June 13, 2016, Andersen Global announces a new location in Panama through the addition of Rivera, Bolivar y Castañedas (RBC) law firm in Panama City.
In July, Andersen Tax welcomes new Managing Director Michael Jordan.
In August, Andersen Tax announces the promotion of nine Managing Directors in local offices. The promotes are Sabrina Chin, Emily Hall, Chris Leung, Kan Li, James O'Brien, Shail Shah, Sandra Van De Walle, Parvin Van Enger and Mark Wood.
On September 8, 2016, Andersen Global adds legal services in Guatemala through the addition of Ralón Orellana & Asociados Servicios Legales, S.A., a leading law firm specializing in tax, constitutional and corporate issues for companies and individuals doing business in or investing in Guatemala and Central America.
In September, Andersen Tax welcomes new Managing Director Chris DeVoe.
On September 26, 2016, Andersen Tax announces its collaboration with mgpartners, a leading tax firm in Ireland. Although mgpartners is not yet a full-fledged member firm, they will be collaborating with Andersen Tax and other Andersen Global member firms to provide best-in-class service to clients.
In October, Andersen Tax welcomes new Managing Director Joe Gill.
In November, Andersen Tax welcomes new Managing Director Rob Popovitch.
In December, Andersen Tax welcomes new Managing Director, Associate Counsel Oscar Alcantara.
Andersen Global now has a presence in 51 locations worldwide.
Andersen Tax experienced significant growth in 2016 by opening six additional offices internationally. This year, the firm expects to continue to expand domestically and internationally throughout the year.
In January, Andersen Tax welcomes new Managing Director Nick Pavelich.
On January 16th, Andersen Global announced its collaboration with Beneli Tax Boutique, a tax firm located in Tel Aviv, Israel. The establishment of a Collaboration Agreement with Beneli Tax Boutique broadens Andersen’s presence globally to include the Middle East, and is the initial stage to becoming a member firm of Andersen Global.
On March 1st, Andersen Tax & Legal made its debut in Spain as the Spanish member firm of Andersen Global, Global Abogados, officially adopted the Andersen name and will now operate as Andersen Tax & Legal in Spain.
On March 29th, Andersen Global welcomes the addition of Olleros Abogados, a Spanish firm with locations in both Madrid and Valencia. They combined forces with the existing Barcelona team, together operating as Andersen Tax & Legal in Spain.
On April 3rd, Andersen Global announces an enhanced presence in Israel by way of a collaboration agreement with Yaron-Eldar, Paller, Schwartz & Co., a law firm with locations in Tel Aviv and Haifa specializing in all aspects of taxation law, both in Israel and internationally. The addition of Yaron-Eldar as a Collaborating Firm of Andersen Global is a part of a larger expansion strategy in Israel and the Middle East.
On April 10, 2017, Andersen Tax & Legal debuts in Italy with the Italian member firm of Andersen Global, Noda Studio, formally adopting the Andersen name. They will operate as Andersen Tax & Legal and are the third member firm to assume the Andersen name in Europe.
On April 24, 2017, Andersen Tax & Legal makes its debut in the Netherlands, as Taxperience formally adopts the Andersen name in Amsterdam, Rotterdam, and 's-Hertogenbosch. They will now function as Andersen Tax & Legal in the Netherlands, joining several other Andersen Global member firms worldwide that have adopted the Andersen name.
On May 8, 2017, Andersen Global is pleased to announce a new presence in Portugal with the addition of Nobre Guedes, Mota Soares & Associados (NGMS), a law firm serving both public and private entities. NGMS joins Andersen Global as a member firm and will adopt the name Andersen Tax & Legal.
On May 15, 2017, Andersen Global is excited to announce a presence in Nigeria with the addition of the practice formerly run under WTS ADEBIYI & Associates. Effective July 1st, 2017, the collaborating firm will join Andersen Global in Nigeria as Adebiyi Tax & Legal, and later adopt the Andersen name with locations in both Lagos and Abuja. This kickstarts Andersen’s expansion into Africa.
On May 23, 2017, Andersen Tax is proud to announce its debut in Poland as the Polish member firm of Andersen Global, Taxperience, officially transitions its name to Andersen Tax.
May 30, 2017 Andersen Global announced the launch of the Andersen name in Germany with the addition of a new member firm, Andersen Rechtsanwaltsgesellschaft Steuerberatungsgesellschaft mbH, in Cologne, Germany.
In June, Andersen Tax welcomes new Managing Director, Michael Barbosa to the Los Angeles office. Michael will join the Commercial Practice group specializing in International Tax.
On June 13, 2017 Andersen Tax debuts in Luxembourg with Andersen Global member firm, Alegis, assuming the Andersen name.
On June 27th, Andersen Tax announces its debut in Switzerland as MDR Advisory Group formally adopts the Andersen name in Lugano. Andersen Tax in Lugano is one of three Andersen Global member firms in Switzerland.
On July 5th, Andersen Tax makes its debut in Africa as the former Partners of WTS ADEBIYI & Associates, a tax firm based in Nigeria, adopt the Andersen name.
On July 9th, Andersen Tax celebrated its 15 Year Anniversary. 15 years after Arthur Andersen and four years after initiating our global expansion, it is clear that our vision of becoming the firm known for the quality of its services is becoming a reality.
July 10th, Andersen Global announced the addition of a presence in Egypt by way of a Collaboration Agreement with Maher Milad Iskander and Co., an Egyptian tax and legal firm based in Cairo.
On July 12th, Andersen Global announced a presence in Turkey by way of a Collaboration Agreement with NAZALI Tax & Legal, a leading tax and legal consultancy firm with locations in Istanbul, Ankara, Izmir and Bursa.
The Andersen name debuted in Israel and the Middle East on July 18th as Beneli Tax formally adopted the Andersen name. The tax firm, based in Tel Aviv, entered a Collaboration Agreement with Andersen Global in January 2017, and is now a full-fledged Andersen Global member firm operating under the name Andersen Tax.
In July, Andersen Tax welcomed Managing Director Nir Shtolzberg to the Los Angeles Commercial Practice group.
On July 25th, Andersen Global announced a presence in Greece and Cyprus via a Collaboration Agreement with UnityFour and Pistiolis-Triantafyllos & Associates. Together, these firms provide legal, tax and accounting services in Greece; and tax, accounting and fiduciary services in Cyprus.
Andersen Global announces a presence in Rio de Janeiro, Brazil by way of a Collaboration Agreement with Branco Consultores, a tax and legal firm on August 8th.
On August 22nd, Andersen Global announced Dan DePaoli as Regional Managing Partner for U.S., Canada and Israel.
Andersen Tax & Legal adds a location in Querétaro, Mexico on August 29, 2017.
James Lelko joined the firm as a new Managing Director in Chicago.
On September 19th, Andersen Global initiated its expansion into Uruguay.
Andersen Global now has a presence in over 70 locations worldwide.