Technology History | Accenture — The Consulting Book Split at 33 West Monroe
· 1989
Unreviewed contributionBy kevin · · updated · Report an issue
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Technology History | Accenture — The Consulting Book Split at 33 West Monroe
kevin
People treat Accenture as a Dublin listing that always billed technology transformation from a new name.
The first separate book was still an Andersen partnership in Chicago.
In 1989 Arthur Andersen and Andersen Consulting became separate units under Andersen Worldwide Société Coopérative. The more profitable unit paid the other 15 percent of its profits. The consulting side kept growing. The audit side started its own consulting line and competed for the same clients.
The Loop building at 33 West Monroe Street was Arthur Andersen's world headquarters. Andersen Consulting kept executive floors at 161 North Clark. Both addresses were a short walk from the Monroe stop.
The consulting partnership won an arbitration that cut the Andersen name. On 1 January 2001 the firm began trading as Accenture, a coinage from Accent on the future. On 19 July 2001 it listed on the New York Stock Exchange at 14.50 dollars a share under the ticker ACN.
The present group is incorporated in Ireland. The mechanism that made the split inevitable was already visible on Monroe Street. One partnership could not audit a client and sell it a systems overhaul under the same letterhead once the fees on the second book outran the first.
Photo: public view of the Chicago Loop, via Wikimedia Commons.
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