Dear clients and partners, friends,
Eighteen short years. This is how much time has passed between the disappearance and the return of Andersen in Hungary The traditional brand, which many of us (including ourselves) thought was gone forever, was reorganised a few years ago. It did not take long for the old brand to soar again and start an unprecedented international expansion. Twenty three US tax partners did not want to accept the dramatic collapse of Arthur Andersen and launched their own brand, based in San Francisco, under a new name. Trusting their own competence and perseverance, they soon became stronger and opened offices first in five, then in 10 further cities. Then, in 2006 when the Supreme Court reversed Andersen’s conviction in all points, they bought the brand back. However, they only made the decision in 2014 when it became apparent there was a need for a real fifth player on the market. The rest is history. Andersen has since opened over 100 offices outside the USA, and the brand is back for good.
Andersen’s trajectory shows many similarities with the story of OrienTax. Both companies were largely started from scratch, with the mission from the very first moment that there is a need for a fifth player on the tax services market. Finally, both Andersen and we needed 8-10 years to catch up with the big ones, overtaking all other firms on the market. When we started to cooperate in 2018 we only had a little more than 20 employees, now we have over 40. The past two years have proven that OrienTax and Andersen is an inspiring combination that can bring about a profound shift in the Hungarian market as well.
Many ask if we feel sorry to let go of the OrienTax brand overnight that we put so much hard work in developing in the past 10 years. The truth is that the decision could not have been easier and there was no real alternative. It also helped, of course, that three members of the present management started their careers at Arthur Andersen, so, for us, it is a little bit like returning home. However, the real challenges will only face us now. We must prove it also in Hungary that we are able to succeed even without an audit practice and become a market leader solely in tax and legal services. As, in fact, besides OrienTax, Szabo Kelemen Partners Attorneys also took the Andersen name, the two firms now being linked in name as well, with 90 colleagues on board. Besides the brand, our website and email address also change, replacing the old domain ‘orientax.hu’ with the new one ‘hu.Andersen'.
Thank you for your continued trust and support in the past 10 years.
On behalf of Andersen Adótanácsadó Zrt,