Unified but not conjoined seems to be the message as BDO drops Stoy Hayward
from its branding after 15 years.
It will now be known globally as BDO in a move aimed at cementing its
position as a global accounting brand.
The rebranding operation will run across all its firms in 110 countries, with
names reduced to simply BDO, but there will be no substantial “structural
change” to the firm’s operations and it will not begin profit sharing across
borders as practiced by mid-tier rival Mazars.
The firm said it would use common IT software and increase co-operation
between the firms.
Simon Michaels, managing partner at BDO, said the move was not just about the
“look and feel” of the brand but was aimed at “significantly increasing our
“If we present ourselves as a unified global network… then the clients
experience the high level of service and that helps to drive the reputation,” he
Jeremy Newman, CEO of BDO, dismissed concerns that the name change could
expose the firm to global court actions under the European Commission’s eighth
The directive potentially makes accounting firms liable if they can be
sufficiently identified across the globe.
Newman said he had taken legal advice which said the firm is no more open to
liability under the global name BDO than it had been under previous names. “If
the issue is there the issue is there… The advice is that there is sufficient
similarity in our names at the moment,” he said.
Stephen Cheliotis, chief executive of the Centre for Brand Analysis, said the
name change would bring financial as well as marketing benefits.
“By having a monolithic brand, you can save money in effect in your marketing
by doing global sponsorship or one global advertising campaign,” he said.
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