The 88-year-old firm will simply be called Andersen, and it is expected to phase out use of the old Arthur Andersen name over the coming months. It said substantial investment would have to be made both internally and externally to develop the latest brand.
It is thought the decision to change its brand comes as the firm now has sole use of the Andersen name following its divorce from Andersen Consulting last year – and which has subsequently changed to Accenture. It also marks a further departure from the damaging and lengthy arbitration process that saw the firms split.
Only last year it revealed a new corporate image as part of a multimillion pound overhaul of its strategy to fit in with new media and e-commerce companies.
Joseph Berardino, Andersen managing partner and chief executive officer, explained: ‘Andersen is the most recognised, best-known name in professional services. Using Andersen as our global brand better aligns with our strategic commitment to continually enhance the breadth and depth of our capabilities.
The name Arthur Andersen came from its founder, a US university professor who set up the firm in Chicago. Andersen used to recruit his college students for the firm – who were among the first graduates to work in public accounting.
Dropping ‘Arthur’ will be a gradual process. The company feels Andersen is a better name for a firm offering auditing and consulting. Andersen is a progressive, and inclusive name, according to an internal source.
The announcement completed a busy day for the firm. Earlier it ended its two-month hunt for a UK managing partner after electing John Ormerod to replace Philip Randall.
Ormerod, 52, had been head of Arthur Andersen’s technology, media and communications industry practice in Europe, Middle East, India and Africa since 1995.
- Additional reporting by Matthew Gerry.
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