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White-shoe
In the United States, "white-shoe firm" is a term used to describe prestigious professional services firms that have been traditionally associated with the upper-class elite who graduated from Ivy League colleges. The term comes from white buckskin derby shoes (bucks), once the style among the men of the upper class. The term is most often used to describe leading old-line Wall Street law firms and financial institutions, as well as accounting firms that are over a century old, typically in New York City and Boston. Given the term's strong association with Ivy League elites, it has historically implied a cultural homogeneity associated with White Anglo-Saxon Protestant men. However, the term is now used more as a matter of long-established, high-end firms, especially those working in complicated business matters. Former Wall Street attorney John Oller, author of ''White Shoe'', credits Paul Drennan Cravath with creating the distinct model adopted by virtually all white-sho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Drennan Cravath
Paul Drennan Cravath (July 14, 1861 – July 1, 1940) was an American corporate lawyer and presiding partner of the New York law firm known today as Cravath, Swaine & Moore. At the firm, he devised and implemented the Cravath System, which has come to define the structure and practice of most large American firms. Cravath was a leader in the American Atlanticist movement and was a founding member and director of the Council on Foreign Relations. Early life and education Cravath was born on July 14, 1861 in Berlin Heights, Ohio. His mother, Ruth Anna Jackson, was a Pennsylvania Quaker, and his father was Erastus Milo Cravath, a descendant of French Huguenots, Congregationalist minister, abolitionist, and co-founder and president of Fisk University. After the American Civil War, the family briefly relocated to Brooklyn, where Paul enrolled at the Brooklyn Polytechnic Institute. When his family visited Europe, he enrolled in boarding school in Geneva and toured Germany with th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Oller
John Oller is an American biographer, historian, and former Wall Street attorney. Early life and education Oller was born in Huron, Ohio. He earned a B.A. in journalism, graduating ''summa cum laude'' from Ohio State University in 1979, where he wrote for and edited the daily student newspaper, the ''Lantern'', and interned as a reporter at ''The Plain Dealer'' in Cleveland and the ''Rochester Times-Union''. Oller graduated ''magna cum laude'' from Georgetown University Law Center in 1982. Career Attorney Following law school, Oller became an associate and later a partner in the litigation department of white-shoe law firm Willkie Farr & Gallagher in New York City, where he represented Major League Baseball, including in the George Brett Pine Tar Incident as well as the Pete Rose sports betting case, as described in the ''Dowd Report''. As a partner in the firm, he went on to specialize in complex commercial and securities litigation, and was a principal author of the Audit Commi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cravath System
The Cravath System is a set of business management principles first developed at Cravath, Swaine & Moore. John Oller, author of ''White Shoe'', credits Paul Drennan Cravath with creating the model in the early 20th century, which was adopted by virtually all white-shoe law firms, fifty years before the phrase ''white shoe'' came into popular use. The Cravath System has been adopted by many leading law firms, management consulting firms, and investment banks in the United States. Components Paul Cravath built a reputation handling complex lawsuits for the new electrical industry. Devising the Cravath System, he enlarged the law office and professionalised it by establishing full-time librarians, a recruiting system focused solely on the highest-ranked law schools, and partners who specialized. Robert Swaine describes the fundamentals of the Cravath System in the beginning of Volume 2 of the history of the Cravath firm. These include: ; Recruiting staff:Paul Cravath sought to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Derby Shoe
A derby ( , ; also called gibson) is a style of boot or shoe characterized by quarters, with shoelace eyelets, that are sewn on top of the vamp.Definition of Derby OxfordDictionaries.com This construction method, also known as "open lacing", contrasts with that of the Oxford shoe. In the derby shoe may be referred to as a ' blucher', although technically the blucher is a different des ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
White Anglo-Saxon Protestant
In the United States, White Anglo-Saxon Protestants or Wealthy Anglo-Saxon Protestants (WASP) is a Sociology, sociological term which is often used to describe White Americans, white Protestantism in the United States, Protestant Americans of English Americans, English, or more broadly British people, British, descent who are generally part of the white dominant culture or American upper class, upper-class and historically often the Mainline Protestant ruling class, elite. Some sociologists and commentators use ''WASP'' more broadly to include all White Protestant Americans of Northwestern European and Northern European ancestry. It was seen to be in exclusionary contrast to Catholics, Jews, Irish, immigrants, southern or eastern Europeans, and the non-White. WASPs have dominated American society, culture, and politics for most of the history of the United States. Critics have disparaged them as "The Establishment". Although the social influence of wealthy WASPs has declined sinc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law Firms
A law firm is a business entity formed by one or more lawyers to engage in the practice of law. The primary service rendered by a law firm is to advise consumer, clients (individuals or corporations) about their legal rights and Obligation, responsibilities, and to represent clients in civil case, civil or Criminal law, criminal cases, business transactions, and other matters in which legal advice and other assistance are sought. Arrangements Law firms are organized in a variety of ways, depending on the jurisdiction in which the firm practices. Common arrangements include: * Sole proprietorship, in which the attorney ''is'' the law firm and is responsible for all profit, loss and liability; * General partnership, in which all the attorneys who are members of the firm share ownership, profits and liabilities; * Professional corporations, which issue stock to the attorneys in a fashion similar to that of a business corporation; * Limited liability company, in which the attorney-ow ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Professional Services
Professional services are occupations in the service sector requiring special training in liberal arts and pure sciences education or professional development education. Some professional services, such as architects, accountants, engineers, doctors, and lawyers require the practitioner to hold professional degrees or licenses and possess specific skills. Other professional services involve providing specialist business support to businesses of all sizes and in all sectors; this can include tax advice, supporting a company with accounting, IT services, public relations services or providing management services. Definition Many industry groups have been used for academic research, while looking at professional services firms, making a clear definition hard to attain. Some work has been directed at better defining professional service firms (PSF). In particular, Von Nordenflycht generated a taxonomy of professional service firms, defining four types: # Classic PSFs (e.g. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deloitte
Deloitte is a multinational professional services network based in London, United Kingdom. It is the largest professional services network in the world by revenue and number of employees, and is one of the Big Four accounting firms, along with EY, KPMG, and PwC. The Deloitte network is composed of member firms of Deloitte Touche Tohmatsu Limited ( ) a private company limited by guarantee incorporated in England and Wales. The firm was founded by accountant William Welch Deloitte in London, England in 1845 and expanded into the United States in 1890. It merged with Haskins & Sells to form Deloitte Haskins & Sells in 1972 and with Touche Ross in the US to form Deloitte & Touche in 1989. In 1993, the international firm was renamed Deloitte Touche Tohmatsu, later abbreviated to Deloitte. In 2002, Arthur Andersen's practice in the UK as well as several of that firm's practices in Europe and North and South America agreed to merge with Deloitte. Subsequent acquisitions have inc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Economist
''The Economist'' is a British newspaper published weekly in printed magazine format and daily on Electronic publishing, digital platforms. It publishes stories on topics that include economics, business, geopolitics, technology and culture. Mostly written and edited in London, it has other editorial offices in the United States and in major cities in continental Europe, Asia, and the Middle East. The newspaper has a prominent focus on data journalism and interpretive analysis over News media, original reporting, to both criticism and acclaim. Founded in 1843, ''The Economist'' was first circulated by Scottish economist James Wilson (businessman), James Wilson to muster support for abolishing the British Corn Laws (1815–1846), a system of import tariffs. Over time, the newspaper's coverage expanded further into political economy and eventually began running articles on current events, finance, commerce, and British politics. Throughout the mid-to-late 20th century, it greatl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Big Four Accounting Firms
The Big Four are the four largest professional services networks in the world: Deloitte, Ernst & Young, EY, KPMG, and PwC. They are the four largest global accounting networks as measured by revenue. The four are often grouped because they are comparable in size relative to the rest of the market, both in terms of revenue and workforce; they are considered equal in their ability to provide a wide scope of professional services to their clients; and, among those looking to start a career in professional services, particularly accounting, they are considered equally attractive networks to work in, because of the frequency with which these firms engage with Fortune 500, ''Fortune'' 500 companies. The Big Four all offer audit, assurance services, assurance, taxation, management consulting, Valuation (finance), valuation, market research, actuarial, corporate finance, and legal services to their clients. A significant majority of the audits of Public company, public companies, as w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Big Eight Auditors
The Big Four are the four largest professional services networks in the world: Deloitte, EY, KPMG, and PwC. They are the four largest global accounting networks as measured by revenue. The four are often grouped because they are comparable in size relative to the rest of the market, both in terms of revenue and workforce; they are considered equal in their ability to provide a wide scope of professional services to their clients; and, among those looking to start a career in professional services, particularly accounting, they are considered equally attractive networks to work in, because of the frequency with which these firms engage with ''Fortune'' 500 companies. The Big Four all offer audit, assurance, taxation, management consulting, valuation, market research, actuarial, corporate finance, and legal services to their clients. A significant majority of the audits of public companies, as well as many audits of private companies, are conducted by these four networks. U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ernst & Whinney
EY, previously known as Ernst & Young, is a multinational professional services network based in London, United Kingdom. Along with Deloitte, KPMG and PwC, it is one of the Big Four accounting firms. The EY network is composed of member firms of Ernst & Young Global Limited, a UK company limited by guarantee. EY is one of the largest professional services networks in the world. It primarily provides assurance, tax, information technology services (including managed services in areas like Cybersecurity, Cloud, Digital Transformation and AI), consulting, and advisory services to its clients. Ernst & Young Global Limited operates as a network of member firms which are structured as separate legal entities in a partnership, which has 395,442 employees in over 700 offices in more than 150 countries. The firm's current partnership was formed in 1989 by a merger of two accounting firms: Ernst & Whinney and Arthur Young & Co. It was named Ernst & Young until a rebranding campaig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
