McLean, Va. (Oct. 3, 2002) -- KPMG Consulting, which separated from its auditing parent and became a publicly traded entity in February 2001, has changed its name to BearingPoint Inc.As part of its re-imaging, the firm also will begin trading on the New York Stock Exchange Oct. 3 under the symbol "BE." The company currently trades on Nasdaq.
Earlier this year, KPMG Consulting, which provides management and technology services, said it would change its name to distance itself from the accounting profession, which had been bruised by a spate of corporate scandals.
With the strategy, KPMG Consulting becomes the latest of the former Big Five consultancies to split from their accounting roots and rebrand themselves.
The former Andersen Consulting became Accenture, while Deloitte Consulting announced several months ago that it would become Braxton once it completes its plan to go private. PwC Consulting had initially planned to adopt the moniker Monday and become a public company. However, those plans were shelved when it was recently acquired by IBM Corp.
--Electronic Accountant Newswire staff
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