KPMG re-brands itself as BearingPoint

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New York--KPMG Consulting Inc. announced Wednesday that it is changing its name to BearingPoint Inc.

KPMG introduced the new moniker at a press conference at the New York Stock Exchange, where its shares will begin trading Thursday under a new symbol--BE.

The name change was driven by the company's desire to distance itself from accounting firm KPMG L.L.P., its former parent company, in the wake of the Enron-Andersen scandal.

BearingPoint means "setting direction to an end point," said Chairman-CEO Randolph Blazer.

As part of its re-branding effort, BearingPoint is running a b-to-b advertising campaign created by Arnold Worldwide with the tagline, "Business and systems aligned. Business empowered."

"We wanted to capture and retain the best of our heritage," Blazer said.

The campaign features pro golfer Phil Mickelson and includes TV, print, direct mail and online advertising, as well as a new Web site. Ad spending will be between $20 million and $40 million, Blazer said.

The direct mail piece targeting current and prospective clients includes an introductory letter, along with a pen bearing the new logo and a compass.

"BearingPoint represents the launch of new beginning of our company," said Linda Rebrovick, chief marketing officer. "We wanted a brand that would stand the test of time and a brand that represented our marketplace position."

BearingPoint employs 16,000 people.

--Carol Krol

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