Ernst & Young is one of the four world's major accounting firms, formed in 1989 through a merger of firms dating back to the 19th century. Yesterday, July 1, it shortened its name to EY.
The need to shorten the name to just two letters can be debated. Ernst & Young isn't as unwieldy as PricewaterhouseCoopers, which shortened its name to PwC a few years ago. The stated reason for the change is consistency. Up until now, the full name was often shortened to E&Y and EY. The company also has a new tagline, "Building a better working world", which replaces "Quality in everything we do".
The logo itself is quite straightforward. It includes the two letters and a yellow beam that the company has used as a decorative element for a few years.
"From 1 July we will be called EY. Shortening our name will provide consistency and ease of use for EY practices and clients around the world. We have also redesigned our logo, reflecting our new brand name clearly in the design. Our new brand name and logo demonstrate clearly and boldly who we are and reflect the goal we have recently set ourselves to be the number one brand in our profession." - new CEO Mark Weinberger in a press release
Some images from the reception area of the London headquarters: