Cap Gemini Ernst & Young Set to Drop E&Y Name
The Paris-based consulting and technology services firm will embark on a $60 million advertising campaign featuring Andre Agassi’s coach and David Bowie’s sound engineer as spokesmen.
Capgemini faces a May deadline to remove the Ernst & Young portion of its name, as part of its 2000 purchase of E&Y’s consulting arm.
The rebranding was delayed last year in the wake of anti-France sentiments in the United States when the French government refused to join the U.S.-led coalition in the Iraqi war. The company believes the coast is clear now to introduce the new brand.
Ernst & Young sold its consulting arm to Cap Gemini following shareholder approval in May, 2000. Other U.S. accounting and auditing firms have taken steps in recent years to distance themselves from their consulting arms.
Arthur Andersen’s consulting practice is now known as Accenture. KPMG’s consulting practice now goes by BearingPoint. PricewaterhouseCooper’s plans to rename its consulting practice "Monday" were scuttled when the consulting arm was absorbed into IBM Business Consulting. Deloitte Touche Tohmatsu International's consulting arm ended its plans to change its name to "Braxton" after it was absorbed into the parent firm last year, the Wall Street Journal reported.
Cap Gemini had revenue of about $6.5 billion last year.