Tuesday, June 30, 2009

Name changes that follow the economic cycle

How many names can you recall for what used to be called the insolvency department of an accountancy firm?

Tradition demands that the department be renamed every few years to highlight the main focus of their work. The name changes seem to follow the economic cycle. Have I missed any out?
  • Insolvency
  • Business recovery
  • Business restructuring
  • Corporate recovery
  • Corporate restructuring
  • Recovery, Reorganisations and Renewals
  • Restructuring and Insolvency
Renaming .a department is generally relatively straightforward. However, the specialist organisations tend to get stuck with their original names (so far as I can tell):

R3 (apparently a ref to: Recovery, Reorganisations and Renewals) currently focuses on the insolvency and business recovery profession and is described as the Association of Business Recovery professionals.

INSOL
(Suggesting an intial focus on Insolvency) is the International Association of Restructuring, Insolvency & Bankruptcy Professionals.

Further suggestions, observations welcome.
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