PracticePeople In PracticeIdentity confusion forces Cisco to drop name

Identity confusion forces Cisco to drop name

Name confusion with a US-based global internet giant has forced Cisco, the UK association for small non-FTSE 350 quoted companies, to ditch its corporate title.

Identity mix-ups have escalated over the past two years as US company Cisco Systems has raised its profile in the UK forcing the association for 2,000 smaller quoted companies to opt for an identity overhaul.

Top level negotiation between senior managers from both company’s has lead to an ‘amicable agreement’, Cisco UK claims.

Cisco said it would announce its new name shortly after ‘due diligence has been conducted’.

The name change comes as Cisco fights a number of battles it believes create barriers to the growth of small quoted companies, including the merger of the London and Frankfurt exchanges.

And in a surprise boon for the UK association the US corporation has agreed to support a series of joint initiatives, including sponsorship of Cisco’s programme of regional seminars and its annual dinner for the City in November.

Chairman John Thunhurst of Cisco said: ‘We are delighted to have reached an agreement that allows the organisation to continue to expand, particularly at a time when the small quoted company sector is under greater pressure than ever.’

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