PRICEWATERHOUSECOOPERS has unveiled its new branding which features a simplified logo consisting of the initials pwc in lower-case type.

The initials PwC have been used interchangeably with PricewaterhouseCoopers both within and outside the global professional services organisation since its formation in 1998.

It said the formal shortening of the brand name will provide consistency and ease of use for PwC firms around the world.

The new logo was developed after consultation with PwC's clients, partners and employees and is designed to be easier to use and better suited to digital and online use.

Chairman of PwC International Dennis Nally said: "We think our new brand expression visually distinguishes PwC in the same way that the quality and expertise of our people differentiates the experience of working with PwC.

"Underlying the visual elements is what the PwC brand really stands for - how we are viewed by our clients, our people and our stakeholders.

"Beyond our capabilities and experience we want PwC to be known for building great relationships with clients that help them create the value they're looking for."

Senior partner in the Isle of Man Ian Clague said: "Obviously, we are a small part of the global network, but we share the vision of the network leadership team and see the new brand identity as a way to make it easier for people to appreciate who we are and enhance our visibility in the local market."