Absolutely. I've done it tons of times. Most of my dogs were strays who were given a shelter name or I changed their names when I adopted them. They were all adults when they arrived here, between one year and 8 years old. Heyoka was Nanook, Deuce was Bandit, Kayleigh was Cowley ect, ect.

Just teach the dog it's new name like you would a puppy. Say it all the time, every time you talk to them and reward like crazy when they respond to their new name. Dogs are smart creatures, he'll figure out his new name in not time.