Andersen Consulting renamed

Global management and technology group Andersen Consulting has chosen its new name after an international arbitrator ruled that it would have to rebrand.

It will be called Accenture as of 1 January 2001, severing its final link with accounting group Arthur Andersen.

Accenture expresses what we have become as an organisation as well as what we hope to be

Joe Forehand
Andersen Consulting

Andersen Consulting was spun off from Arthur Andersen in 1989 but quickly began to outgrow its parent.

The two firms fell out in the 1990s when Arthur Andersen began to supplement its core tax and audit operations with consultancy work.

Battle

A bitter court battle ensued as Arthur Andersen insisted that Andersen Consulting must pay billions of dollars to leave the umbrella organisation, Andersen Worldwide.

The wrangle went to arbitration and, in August, Colombian arbitrator Guillermo Gamba ruled that Andersen Consulting did not have to make a termination payment, but would lose the right to use the Andersen name at the end of the year.

The decision was seen as a big victory for Andersen Consulting, which said rebranding was a "logical next step in our growth strategy".

Coined

Andersen Consulting chief executive Joe Forehand said: "Accenture expresses what we have become as an organisation as well as what we hope to be.

"A network of businesses that transcends the boundaries of traditional consulting and brings innovations that dramatically improve the way the world works and lives."

The firm describes Accenture as a "coined word" that represents "putting an accent or emphasis on the future, just as the firm focuses on helping its clients create their future".

The name was selected after an "intensive three-month research and analysis process".

A shortlist of "about 50 names" was "evaluated globally for trademark and URL availability, possible cultural sensitivities and local market pronunciation".

Andersen Consulting says it will spend about $175m marketing the new name.