PracticeAccounting FirmsDeloitte loses Touche in name change

Deloitte loses Touche in name change

Deloitte & Touche will now be known simply as Deloitte, after the firm decided on Wednesday to follow the trend of single-name branding.

Link: Deloitte branches out

To ensure maximum exposure for its new brand name, the firm announced it at the same time as its global results, which showed a 20.8% increase in fee income on last year.

It reported strong overall growth with combined world revenues totalling $15.1bn (£9.1bn). The company’s growth in Europe, the Middle East and Africa increased by a phenomenal 44%, while Asia Pacific saw just 12% expansion.

Europe’s high growth rate can be partly attributed to the takeover of Andersen in the UK. Deloitte in the UK reported a massive 33% growth in annual revenue in July. The underlying growth rate was estimated to be between 5% and 10%.

John Connolly, global managing director and UK chief executive, said: ‘The UK firm contributed an exceptionally high growth rate, substantially influenced by the Andersen transaction in August 2002.’

The new name, the firm said, would highlight the value of its multi-disciplinary practice. William Parrett, global chief executive officer, said: ‘The new brand name is a reflection of the greater capability and array of services that we can offer to clients as a multidisciplinary firm.’

This is not the first time Deloitte has dabbled in a rebranding exercise.

Last year, it attempted to rename its consulting arm Braxton. However, the decision was reversed and it continues to be known as Deloitte Consulting.

Related Articles

Sexual harassment – is accountancy next for #MeToo?

Accounting Firms Sexual harassment – is accountancy next for #MeToo?

2d Karen Baxter, Lewis Silkin
Johnston Carmichael CEO appointed as ICAS president

Accounting Firms Johnston Carmichael CEO appointed as ICAS president

3w Emma Smith, Managing Editor
British Accountancy Awards 2018 – entries open!

Accounting Firms British Accountancy Awards 2018 – entries open!

1m Emma Smith, Managing Editor
Is the accountancy sector facing an international talent crisis?

Accounting Firms Is the accountancy sector facing an international talent crisis?

1m Lewis Silkin
RSM appoints new Chief Operating Officer

Accounting Firms RSM appoints new Chief Operating Officer

1m Alia Shoaib, Reporter
RSM announces 11 partner promotions

Accounting Firms RSM announces 11 partner promotions

2m Emma Smith, Managing Editor
BDO hires former AstraZeneca creative director as head of digital and innovation

Accounting Firms BDO hires former AstraZeneca creative director as head of digital and innovation

2m Emma Smith, Managing Editor
What does the future hold for listed accountancy firms?

Accounting Firms What does the future hold for listed accountancy firms?

2m Fergus Payne, Lewis Silkin