Q&A: Subarna Banerjee on UHY's 100th birthday

Madame Tussauds, London’s temple of celebrity and spectacle, isn’t where you’d typically find accountants gathering. Yet on a late October evening, the iconic venue played host to an equally iconic milestone – UHY Hacker Young’s centenary celebration. The choice of venue, bold and unconventional, perfectly mirrors the firm’s latest chapter: a vibrant rebrand that trades traditional accounting blues for fresh, sustainability-inspired greens.

From its humble beginnings as a partnership between two schoolfriends on Chancery Lane in 1925, UHY has evolved into a global network spanning nearly 100 countries. The firm’s original mission – helping people facing financial challenges get back on their feet – remains at its core, even as it has grown to become the 19th largest accounting network worldwide.

That mission was tested early. During the London Blitz, partner Mark Hacker relocated vital client records to Leicester, protecting businesses’ futures amid falling bombs. Today, that same spirit of dedication drives the firm’s transformation into a people-first organisation, where success is measured not just in numbers, but in the prosperity of its clients, teams, and communities.

As Managing Partner of the London and Nottingham firm Subarna Banerjee puts it: “Our purpose – helping you prosper – goes across various categories. It’s about helping our people prosper, helping our clients prosper, and helping our communities prosper.”

Putting people first

Five years ago, UHY embarked on what would become one of its most significant transformations since its founding. While many firms talk about putting people first, UHY took the unusual step of completely reimagining its culture through an 18-month consultation with its staff.

The result was four core values that now permeate every aspect of the business: be present, enjoy it, live empathy, and make progress. These aren’t just wall art  and have firmly become part of the UHY’s daily vocabulary, appearing in everything from email conversations to client meetings.

“Our values were developed by our people over an 18-month period,” explains Banerjee. “We took that long just so we could get the values right, and they really resonate within the firm.”

This cultural shift has had tangible impacts. The firm maintains notably low staff turnover rates, and perhaps most tellingly, has been willing to part ways with clients who don’t align with these values. As Banerjee explains, when clients don’t treat UHY’s people with respect, the firm takes action – often resulting in frank conversations with those clients about their behaviour.

The approach appears to be working. Former employees who left for supposedly greener pastures have begun returning, citing UHY’s culture as a key factor in their decision. It’s a remarkable achievement in a sector often criticised for its demanding work culture.

The timing of this cultural transformation has proved fortuitous. When the pandemic hit, the firm’s robust IT infrastructure meant there wasn’t a single minute of downtime as staff transitioned to remote working. But it was the strength of its culture that truly carried the firm through the crisis, maintaining team cohesion even as people worked apart.

This focus on people extends beyond the firm’s walls. The original mission of helping businesses navigate financial difficulties remains central to UHY’s identity. Through its turnaround and recovery practice, the firm has built resilience against economic cycles – when times are good, audit and tax services thrive; when times are tough, the recovery team steps in to help struggling businesses find their feet.

A ‘green’ new chapter

As UHY entered its centennial year, the firm made a choice that captures both its heritage and future ambitions – replacing its 20-year-old branding with a fresh identity anchored by an unexpected shade of green. In an industry dominated by corporate blues, it’s a statement of intent. It represents the firm’s growing focus on ESG assurance services and reflects themes of growth and renewal.

The rebrand came after extensive consultation, with the firm’s third-party branding partner interviewing managing partners and stakeholders across the business to capture the essence of UHY’s identity. “The profession is at an inflection point, particularly with private equity entering,” Banerjee notes. “Firms need to increase their profile, and in today’s increasingly visual world, having a strong identity is critical for any business.”

The implementation of the new brand showcases UHY’s practical approach to change. Rather than forcing an overnight transformation, the firm has adopted a phased rollout. While every desk in the London office received new branded merchandise on day one – from umbrellas to water bottles – larger changes like office signage are being implemented gradually across the global network, acknowledging the recent investments many offices had made in their infrastructure.

This approach to change mirrors how UHY has built its success over the past century. The numbers speak for themselves – in the first six months of their current financial year, the firm has already achieved 17% growth. But it’s the future that really excites the leadership team. The firm has partnered with Omnevue to develop its ESG assurance services, investing in staff training to meet growing demand in this area.

“We have so many people who are really keen on getting involved in ESG assurance work,” Banerjee says. “It’s not only the right thing to do and critically important for the planet, but it also generates new service lines that we want to develop.”

This balance between commercial success and wider responsibility feels entirely in keeping with a firm that has spent a century helping others prosper. As UHY begins its second century, it seems fitting that its new green identity reflects not just where the firm has come from, but where it’s heading – toward a future where success is measured not just in financial terms, but in contribution to a sustainable future.

The Next Century Beckons

From protecting client records during the London Blitz to pioneering ESG services today, UHY’s century-long journey reflects more than just the evolution of an accounting firm. It tells the story of how staying true to a founding mission – helping others prosper – can guide an organization through a century of change.

The transformation from Hacker Rubens & Co.’s single Chancery Lane office to today’s global network spanning nearly 100 countries hasn’t happened by chance. Strategic decisions, from the establishment of the international UHY network in 1986 to the recent cultural transformation, have continually positioned the firm ahead of market demands. Today’s UHY demonstrates that a 100-year-old firm can be both respectful of its heritage and boldly progressive. Its new green branding stands out in a sea of corporate blues, while its recently unveiled values – be present, enjoy it, live empathy, and make progress – offer a thoroughly modern interpretation of its people-first founding principles.

As the firm enters its second century, sustainability sits at the heart of its strategy. But this isn’t just about environmental services – it’s about building a sustainable business model that works for clients, employees, and communities alike. For UHY, the next hundred years promise to be just as transformative as the last.