New York (Sept. 10, 2004) -- Professional services firm Alvarez & Marsal, which specializes in turnaround management consulting services, has expanded into tax advisory services, and has hired a team of six former Andersen employees to form its new practice.

A&M co-founder Bryan Marsal said that the move was driven by demand for tax advisory services from companies who don't want to hire their audit firms to offer those services. "In the wake of the Sarbanes-Oxley Act and greater scrutiny on corporate tax strategies, companies need to be able to rely on senior-level, objective advice to effectively manage tax liabilities and risks," said Lowe. "As a result, an increasing number of management teams and boards of directors are looking beyond traditional audit firms, which often encounter conflicts of interest."

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