Ernst & Young re-brands globally, names new CEO

Ernst & Young, on July 1, 2013, adopted ‘EY’ as its new global brand name. The re-branding is in line with the firm’s global vision 2020 strategy, which is to be the most distinctive professional services firm with the best brand, even in the face of the competitive business environment in which it operates.

Also, the firm has appointed Mark Weinberger, former US assistant secretary of treasury, as its new global chairman and chief executive officer (CEO).

Speaking on the re-branding, Henry Egbiki, EY regional managing partner for West Africa, says: “We are living in a fast-paced world that is constantly changing and we as a global firm cannot be left behind. Our brand identity is an important indicator of who we are and what we stand for. It is a combined effect of everything we do and say. In 2008, we unveiled our visual identity, which gave us consistency and visibility, but it needs to continue to evolve by driving the right brand at the right time.”

On vision 2020 strategy, Egbiki says it provides an exciting new direction for EY brand and signals a total change for the firm, adding that the vision will help EY to achieve its ambition to be the most distinctive professional services firm with the best brand.

“We need to express our brand consistently across our global organisation. We want to be the best brand; most favoured employer and to grow faster than our competitors. We want to have the best people as well as invest in a strong relationship with our stakeholders. Above all, exceptional client service is a must for us,” he says.

Besides the new brand name, the re-branding process entails, among others, new logo (which has been redesigned to reflect the new brand name) just as the firm has adopted a new tagline ‘Building a better working world’ as its purpose statement in addition having a new Beam (which is now simpler and more consistent and easily recognised).

Ajen Sita, EY Africa CEO, on the other hand, says “the re-branding coincides with the firm’s global vision 2020 strategy, which is about repositioning EY, It reflects our desire to focus on qualities that differentiate us from our competitors. We have a strong desire, a responsibility even to build a better working world.”

On his appointment as the new chairman/CEO, Mark Weinberger says: “It is a privilege to lead this great organisation in these dynamic times, and I am looking forward to tackling the challenges ahead.”

Weinberger, who is 51 years old, replaces outgoing chairman/CEO, Jim Turley, who has been in that position for the last 12 years.