McGladrey to Rebrand as RSM
McGladrey plans to rebrand itself as RSM on a global basis to reflect the name of the global network of accounting firms in which it belongs.
McGladrey LLP said Thursday it will adopt RSM as a common brand name, uniting with fellow firms of its global network RSM International to further strengthen the organization's position as a global provider of audit, tax and consulting services focused on the middle market.
“Our clients are an essential part of the global economy, and a unified global brand reinforces our focus on being the first-choice advisor to middle market business leaders by providing consistent global services, regardless of borders,” said McGladrey managing partner and CEO Joe Adams in a statement. “Over the years, McGladrey has evolved with our clients, developing a strong suite of services to support their expansion into the global market and to help them address changes in regulations and the global business environment, enabling them to move forward with confidence.”
RSM International is the world’s seventh largest network of audit, tax and consulting firms, ranking sixth in tax services, with firms in more than 110 countries, including the third largest firm in China. In 2014, RSM International was the fastest-growing top ten global network, posting an 18 percent increase in revenue, year-on-year, to $4.4 billion for the year ending Dec. 31, 2014.
All RSM International firms are and will remain independent legal entities, but will uniformly carry the RSM brand name. McGladrey LLP will change its legal name to RSM US LLP.
McGladrey was formerly known as McGladrey & Pullen and used to be affiliated with a firm known as RSM McGladrey that was owned by H&R Block. Beginning in 1999, McGladrey & Pullen operated under an alternative practice structure with RSM McGladrey, under which M&P provided clients with public accounting services and RSM provided non-public accounting services, such as tax and consulting. In January 2010, M&P and RSM reached a revised services agreement after a five-month legal struggle that began when M&P voted to terminate the 10-year agreement between the two firms. Under Adams’s leadership, M&P bought back RSM McGladrey from Block in 2011 for $610 million and rebranded the reunified firm as McGladrey (see Block Sells RSM to McGladrey & Pullen). The new rebranding would effectively undo the 2011 rebranding effort.
McGladrey pointed to recent brand research indicating that current and prospective clients view both McGladrey and RSM as leading brands focused on serving the middle market.
“The adoption of a common name and unified global brand will better enable current and potential clients of RSM International firms around the world to more clearly see the strength and broad reach of the global services offered and reinforce our commitment to delivering the power of being understood to middle market leaders worldwide,” said Andy Bosman, chief marketing officer for McGladrey and chairman of RSM International's global marketing and communications committee.
The brand will officially launch on Oct. 26, 2015, when RSM International firms will adopt the unified global brand name, the “power of being understood” brand positioning and a new logo.
The RSM brand will also be integrated into communications materials prior to the November 2015 McGladrey Classic, a PGA Tour event, which will be rebranded as The RSM Classic in support of the unified global name.
“While our name is changing, we are maintaining the core essence and legacy of the McGladrey brand,” said Adams. “By taking RSM as our brand name, we will accelerate the path to a recognized unified global brand and strategy. McGladrey is proud of our heritage, and we are staying true to our roots. Adopting the RSM name simply enables us to work most effectively in all countries around the world.”