Rebrand sees Ernst & Young become EY

ACCOUNTANCY group Ernst & Young is adopting the abbreviated ‘EY’ as its new name.

It follows rival PwC, which discarded PricewaterhouseCoopers in 2010.

The global company has also appointed Mark Weinberger as chairman and chief executive, and adopted “Building a Better Working World” as its tagline.

Mr Weinberger, a 51-year-old American, has previously served as the global and Americas head of tax and has been a senior advisory partner for many of the firm’s largest clients.

He was also assistant secretary to the US Treasury, focusing on tax policy, under President George W Bush and he was appointed to the US Social Security Advisory Board by President Clinton.

He said: “It is a privilege to lead this great organisation in these dynamic times and I’m looking forward to tackling the challenges ahead. EY has a proud history that stretches back more than a century. Over that time we have forged our reputation based on quality, trust and integrity. We are building on our history and our reputation to create our future.”

Referring to the new logo he added: “Every day, every EY person is part of building a better working world – for our clients, our communities, and our families. We believe that everything we do – every audit, every tax return, every advisory opportunity, every interaction with a client or colleague – contributes to building a better working world.

“We know that building a better working world is an ambitious objective but it is an incredibly important aspiration and will be front and centre of everything we do as an organisation.”

EY’s origins lie in two separate US firms, Arthur Young & Company and Ernst & Ernst that were set up in the early years of the 20th century. Both expanded into the UK and the businesses merged in 1989.