Firm History

St Matthew was founded in early 2006 in London. The founding partners of the firm had previously worked for several years on a mandate of PricewaterhouseCoopers (PwC) in Zurich, Hamburg and London.

2004-2006: Preparatory Phase

The decision to create a London-based tax and consulting firm, came in 2004: At a conference organised by PwC for entrepreneurs, it became clear that London is the leading business hub in Europe. In addition to this, we found that there were very few qualified accounting firms and consultants, who specialized in services for international companies. 

It was obvious that PwC and the other "Big 4" partnerships would take care of venture capital-financed start-ups that are equipped with several million and other considerable resources. But the traditional, cost conscious do-it-yourself entrepreneurs from Germany, Italy or France, with 500,000 to 5 million euros in annual sales were not so readily catered for. Given that this particular client segment is also dependent on professional solutions and services, we found that the typical providers in the UK market were too localised in their thinking and their practices. International legal and tax planning was unfamiliar territory for the typical UK service and solution providers. We also felt that the English language may be a barrier for some continentals when accessing UK and European markets.

January 2006: market entry

With a small team (in a mini-office) in London's West End, we started in January 2006. Our principle aim was market development. Our first step was attention to the domestic markets. As a test, with the specific goal of marketing and internal process improvement, we (in a 5 month period) convinced 30 new clients of our solutions.

June 2006: Entering the international market

The entry into the international markets was initially in the English language only. No other languages were examined at this time.This move proved a great success (as expected) and confirmed our view that there is a large demand for consulting services for entrepreneurs who want to start a company in the UK.

May 2007: Entry into the German market

After our positive experience with international clients, we began to implement the next phase of our concept: the development of European markets in the local language. This included: advertising, consulting and client support in the appropriate languages. The German-speaking market was considered the largest market in Europe and the first choice. With an experienced team that was constantly improving, our services were (and remain) a great success.

October 2007: New business area: Personal Bankruptcy UK

Through a partnership with the renowned German Anwaltsknzlei, we succeeded in opening up a rather unusual market niche: A growing number of Germans began in recent years to move to England to take advantage of the new bankruptcy laws. This allows processing of personal bankruptcies in about 18 months.

January 2008: Tanner Place (London)

By chance, we learned of the opportunity to rent office space in Tanner Place. After extensive renovations, we were able to move there in January. Due to our continued expansion we have already rented additional space in the same building.

February 2008: Entry into the Italian market

Our analysis showed that the UK is a popular destination for Italian entrepreneurs. Mainly because they find the local bureaucratic hurdles too hard to negotiate. With the appointment of an Italian accountant and Italian speaking consultants, our marketing efforts began in Italy.

May 2008: Entry into the French market

After the German and Italian markets, France was the next logical step. As in other countries, the UK limited company is extremely popular among the French. Almost a third of all of French corporations are established from UK limited companies.

September 2008: Expansion in to the USA

A major step was the opening of our first foreign subsidiary in the USA. Miami, Florida to be precise. Here, we are focused on American entrepreneurs who are seeking a trading foot hold or expansion into Europe. All of our know how is directed toward our US clients' expansion in to the EU and its markets. We also reverse this process when talking to EU clients who wish to start companies in the USA

May 2009: Launch of our new website for the German market

After detailed preparation, we launched this website to better serve our German clients (and others).

December 2009: Moving to Crucifix Lane (London)

The Crucifix Lane site is located only several minutes walk from Tanner Street. We expanded to this site in December 2009. This was due to the growing number of employees.  

July 2010: Expansion to Malta

Malta has developed, in recent years, to become a kind of "open secret" in the context of European Taxation. Malta is an EU member, has the euro (as it currency) and uses English as its official language. It was, until the 1960's, a British colony. Malta also attracts an effective tax rate of 5%, which, for international companies, is obviously highly attractive. We have a representative office in Malta, which we hoping to expand in the coming years.

February 2011: Opening of the management office in the City of London and restructuring of the firm

The new year begins with a fundamental reorganization of the business: Mr Philipp Sauerborn and some Italian employees retire from the firm. Mr David Stegnitz assumes the local management in London. The business is divided into a consulting firm and an accounting and auditing company. Both companies are legally independent, but operating under the same label St Matthew.

In the City of London site opened in Crucifix Lane, this is now a consultancy. The accounting company uses the existing office space.

Mr. Johannes Alfänger appointed as Fulfillment & Provisioning Manager. This means that all of our clients will receive the very best of care and attention.

May 2011: Expansion to Switzerland

An existing consulting firm was taken over and now trades as St Matthew Trust GmbH Switzerland. Our clients in this region will mainly be start-ups and international clients looking for services based in Switzerland.