EY is the UK’s third most valuable brand – ahead of many giants
Global accounting and consulting firm EY is the UK’s third most valuable brand, with more value than BBC, HSBC, Land Rover and Vodafone, according to new research.
Each year, Brand Finance conducts research on the brand value of the UK’s largest companies. The US-based research firm compiles brand value by examining a range of factors, including company revenue and profitability, brand strength, impact in the industry, as well as capital and brand reputation.
According to the company’s modeling, Shell is again the UK’s most valuable brand and the world’s most valuable oil and gas brand, with a brand value of £ 32.4 billion. Despite a 12% drop in brand value, Shell continues to comfortably dominate the list, with brand value nearly double that of second-placed BP (down 9% to £ 16.4 billion) .
Notably, EY, a member of the professional services industry, is in third place, with a brand value of £ 20 billion, ahead of Vodafone, HSBC, Tesco, Barclays and Sky – heavyweights that all have a lot more than £ 20 billion. employees as the accounting and consulting firm. In the UK, EY generates sales of around £ 2.6 billion.
In the Brand Finance methodology, EY exceeds its weight for several reasons. First, the company is built on a strong brand and global presence – EY currently has more than 284,000 people in more than 150 countries, helping more customers, in more places, than ever before. Second, the company’s employees are involved in cutting-edge work, working with many of the country’s leading brands to manage the business and the transformation.
EY’s accountant and auditors assist government agencies, listed companies and other businesses with their finances, while the firm’s tax advisors assist clients with domestic and international tax matters. At the same time, the firm’s consultants help business leaders develop and digitize their strategies, business models and operations, and bring them to life. The company’s dealmakers advise executives, business owners and private equity on mergers and acquisitions.
This line of work and many others mean that on a daily basis EY’s 17,000 employees in the UK play a leading role in business and society, which in turn greatly benefits the perception of the brand.
Parul Soni, Partner at Brand Finance, said of EY’s performance: “Despite a turbulent year, EY has become resilient. Its diversified service offering has enabled it to continue to support its clients and employees in uncertain times and the brand has experienced positive financial growth.
Third, the research noted EY’s particular focus on “creating long-term value for stakeholders,” which the company has clearly demonstrated in recent years and during the pandemic, enabling EY to “Remain a favorite brand of customers”.
At the end of 2019, the professional services company launched EY Ripples – its commitment and program to positively impact one billion lives by 2030 – mobilizing its network to unite in achieving the Sustainable Development Goals United Nations. “EY is committed to being the distinctive global professional services brand, enhanced by its actions and voice in the market,” Soni concluded.