PricewaterhouseCoopers LLP (PwC) - the Big Four tax, audit and advisory services firm with global headquarters in London and U.S. headquarters in New York - introduced a new visual identity during a relaunch of its Web sites around the world earlier this week in an effort to simplify its brand and strengthen its relationship with clients. Jason Bramwell reports.
The centerpiece of the new branding initiative, which launched September 20, is a simplified logo consisting of the initials "pwc" in lowercase type.
"The world has changed significantly over the last two years and will continue to evolve as new and emerging markets develop. Our brand refresh signifies that we understand how the world is changing and are prepared to help companies respond with the diversity and skills a global network of 160,000 people can offer," Tom Craren, leader of U.S. brand and thought leadership for PwC, told AccountingWEB.
"The changes to our logo, colors and look symbolize the broader changes we are making in the U.S. firm and global network to help create value for our clients and our people in a very dynamic and challenging global economy," he continued. "We believe our brand refresh provides a way of distinguishing PwC from other professional service firms."
Craren said PwC consulted with its clients, partners and other stakeholders for more than a year about how best to position the firm in the marketplace.
"As a result of these conversations, in-depth research on the PwC brand and an acknowledgement of the challenges and opportunities we face together, we decided now was the right time to launch this new brand positioning," he added.
The new logo is designed to be easier to use and better suited for digital and online use. The shortening of the brand name will provide consistency and ease of use for PwC firms around the world.
"The core idea behind our brand is creating value through developing deep, collaborative relationships with our clients that create the kind of outcomes they need and are looking for," Craren stated. "It is also meant to resonate with our people to foster building deeper relationships with each other around the world, which is essential for delivering quality services and solutions."
The repositioning of the PwC brand was led by the firm's global brand team and its network leadership team, with assistance from the global brand consultancy Wolff Olins, according to a company statement.
The initials "PwC" have been used interchangeably with "PricewaterhouseCoopers" both within and outside the company since its formation in 1998. PricewaterhouseCoopers remains the full name of the global organization for legal purposes and will be the name used by PwC firms to sign company audits.
Craren said the response to the brand change by employees and clients has been positive.
"The brand change is not merely a logo redesign, but a key symbol of a cultural transformation that re-emphasizes relationship and value creation so that PwC builds a foundation for long-term growth and competitive advantage. That change is a journey whose success cannot be determined in days," he added. "Though these changes are substantial, our commitment to quality and integrity - values that underlie all of our service offerings - is unchanged and unwavering."