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Thursday, April 8, 1999

Arthur Andersen sets up new legal entity 

Our M&M Bureau  
Mumbai, April 7: In a move towards enhancing consulting services in India, Arthur Andersen, the world's leading professional services firm, has set up a new legal entity called Arthur Andersen India Pvt Ltd. The new entity will be headed by N Sheshadri in India. The move will enable the firm to extend its business consulting services and to provide a significantly focussed set of corporate finance services in India.

According to Arthur Andersen regional managing partner Roman W McAlindon, ``Arthur Andersen has over the last 14-15 years evolved in a major way. There is a need to now deliver more and to bring about greater flexibility in providing different skills to our clients. Thus we decided to broadbase our services net. Initially, Arthur Andersen started off with services in auditing and taxation and then expanded on to business consultancy services. The new entity will enable us to expand our range of services across different functions,'' said McAlindon.

The firm's corporate finance and businessconsulting services are integral to its success globally. ``Our focus on these services will lead to rapid growth and assist in meeting the demand for deep industry and competency skills,'' said McAlindon.

``Clients want deeper skills in India. We are developing the expertise in providing these skills to fulfill all demands and our services will tend towards greater industry focus,'' he said.

Arthur Andersen Business Consulting will expand its finance function in the future in India along with providing litigation support and economic consulting services. It will also provide a focus on integrated customer solutions and integrated supply chain supported by appropriate information systems planning. These offerings will be backed by its change enablement approach.

The corporate finance group in the firm provides corporate M&A transaction management and leadership skills, coupled with deal generation, strategic and commercial analysis. It also provides services in areas of mergers, acquisitions anddivestitures to corporations, government and financial stakeholders.

The firm is following a multi-disciplinary policy network by bringing in different research and services to be provided to clients while at the same time integrate these services internally into a matrix kind of structure, said McAlindon.

The firm, said McAlindon, would also look at various opportunities to explore India-specific services which can be developed and provided to companies here. These can then be emulated by its other operations world over.

Globally, the areas in which Arthur Andersen has decided to significantly focus on are: telecom (including communications and media), financial services, and utilities and energy. In India too, these areas would get a greater emphasis in terms of providing services in addition to other industries.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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