Coopers & Lybrand
| PriceWaterhouseCoopers | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Founded： | 1849 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Predecessor： | Price Waterhouse Coopers & Lybrand | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Founder: | William Cooper Robert H. Montgomery William M. Lybrand Adam A. Ross Jr. T. Edward Ross Edwin Waterhouse Samuel Lowell Price | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Home Country: | Anglo-American | |||||||||||||||||||||||||||||||||||||||||||||||||||||
the Pre-merger of Anglo-American PriceWaterhouseCoopers was Founded in 1998 by the Merger between British Price Waterhouse and Anglo-American-Canadian Coopers & Lybrand. It was founded in 1849 by William Cooper, Robert H. Montgomery, William M. Lybrand, Adam A. Ross Jr., T. Edward Ross, Edwin Waterhouse and Samuel Lowell Price.[1]
Coopers & Lybrand[edit]
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| Conglomerate | |
| ISIN | 🆔 |
| Industry | Professional services |
| Fate | Acquired by Price Waterhouse |
| Successor | PricewaterhouseCoopers |
| Founded 📆 | 1854 in London, England |
| Founder 👔 | William Cooper Robert H. Montgomery William M. Lybrand Adam A. Ross Jr. T. Edward Ross |
| Defunct | 1998 |
Area served 🗺️ | UK US Canada |
Key people | William Cooper Robert H. Montgomery William M. Lybrand Adam A. Ross Jr. T. Edward Ross |
| Services | Assurance Advisory Tax Advisory Tax Controversy Strategy Consulting Data & Analytics Management Consulting Financial Advisory Actuarial Legal |
| Members | |
Number of employees | |
| 🌐 Website | [Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] |
| 📇 Address | |
| 📞 telephone | |
Coopers & Lybrand is an Anglo-American-Canadian conglomerate, Founded in 1854 by William Cooper, Robert H. Montgomery, William M. Lybrand, Adam A. Ross Jr., T. Edward Ross. It is the Service such as Assurance, Advisory, Tax Advisory, Tax Controversy, Strategy Consulting, Data & Analytics, Management Consulting, Financial Advisory, Actuarial, Legal.
In 1854, William Cooper founded an accountancy practice in London, England. It became Cooper Brothers seven years later when his three brothers joined.[1]
In 1898, Robert H. Montgomery, William M. Lybrand, Adam A. Ross Jr. and his brother T. Edward Ross formed Lybrand, Ross Brothers and Montgomery in the United States.[1]
In 1957, Cooper Brothers, along with Lybrand, Ross Bros & Montgomery and a Canadian firm (McDonald, Currie and Co.), agreed to adopt the name Coopers & Lybrand in international practice.[1] In 1973, the three member firms in the UK, US and Canada changed their names to Coopers & Lybrand.[2] Then in 1980, Coopers & Lybrand expanded its expertise in insolvency substantially by acquiring Cork Gully, a leading firm in that field in the UK.[3] In 1990, in certain countries, including the UK, Coopers & Lybrand merged with Deloitte, Haskins & Sells to become Coopers & Lybrand Deloitte;[1] in 1992 they reverted to Coopers & Lybrand.[4]
Price Waterhouse[edit]
| Private | |
| ISIN | 🆔 |
| Industry | Professional services |
| Fate | Merger with Coopers & Lybrand to form PricewaterhouseCoopers |
| Successor | PricewaterhouseCoopers |
| Founded 📆 | 1849 in London, England |
| Founder 👔 | Samuel Lowell Price Edwin Waterhouse |
| Defunct | 1998 |
| Headquarters 🏙️ | London, , U.K. |
Area served 🗺️ | U.K. |
Key people | Samuel Lowell Price Edwin Waterhouse |
| Services | Assurance Advisory Tax Advisory Tax Controversy Strategy Consulting Data & Analytics Management Consulting Financial Advisory Actuarial Legal |
| Members | |
Number of employees | |
| 🌐 Website | [Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] |
| 📇 Address | |
| 📞 telephone | |
Price Waterhouse is an Britain Professional services it was founded in 1849 and active from 1849 to 1998. It was Founded by Samuel Lowell Price and Edwin Waterhouse.
In 1849, Samuel Lowell Price, an accountant, founded an accountancy practice in London, England.[5] In 1865, Price went into partnership with William Hopkins Holyland and Edwin Waterhouse.[5] Holyland left shortly afterwards to work alone in accountancy and the firm was known from 1874 as Price, Waterhouse & Co.[5] The original partnership agreement, signed by Price, Holyland, and Waterhouse could be found in Southwark Towers.[6]
By the late 19th century, Price Waterhouse had gained recognition as an accounting firm. As a result of growing trade between the United Kingdom and the United States, Price Waterhouse opened an office in New York in 1890, and the American firm expanded. The original British firm opened an office in Liverpool in 1904 and then elsewhere in the United Kingdom and worldwide, each time establishing a separate partnership in each country: the worldwide practice of PW was, therefore, a federation of collaborating firms that had grown organically rather than being the result of an international merger.[5]
In a further effort to take advantage of economies of scale, PW and Arthur Andersen discussed a merger in 1989[7] but the negotiations failed, mainly because of conflicts of interest such as Andersen's strong commercial links with IBM and PW's audit of IBM, as well as the radically different cultures of the two firms. It was said by those involved with the failed merger that at the end of the discussion, the partners at the table realized they had different views of business, and the potential merger was scrapped.[8]
Merger[edit]
| |
 Logo of PricewaterhouseCoopers. | |
| Initiator | Coopers & Lybrand |
|---|---|
| Target | Price Waterhouse |
| Type | Merger |
| Completed | 1998 |
| Resulting entity | PricewaterhouseCoopers |
In 1998, Price Waterhouse merged with Coopers & Lybrand to form PricewaterhouseCoopers (written with a lowercase "w" and a camelcase "C").[9]
After the merger, the firm had a large professional consulting branch, as did other major accountancy firms, generating much of its fees. The major cause for growth in the 1990s was the implementation of complex integrated enterprise resource planning (ERP) systems for multi-national companies. PwC came under increasing pressure to avoid conflicts of interest by not providing some consulting services, particularly financial systems design and implementation, to its audit clients. Since it audited a large proportion of the world's largest companies, this was beginning to limit its consulting market. These conflicts increased as additional services including outsourcing of IT and back-office operations were developed. For these reasons, in 2000, Ernst & Young was the first of the Big Four to sell its consulting services, to Capgemini.[10][11]
References[edit]
This article "Pre-Merger of PriceWaterhouseCoopers" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Pre-Merger of PriceWaterhouseCoopers. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
- ↑ 1.0 1.1 1.2 1.3 1.4 "Chronology". PricewaterhouseCoopers. Archived from the original on 10 October 2010. Retrieved 27 September 2010. Unknown parameter
|url-status=ignored (help) - ↑ "ICAEW: Firms family trees".
- ↑ "Profile – Michael Jordan of Cork Gully". Management Today. 1 January 1993. Archived from the original on 28 May 2012. Retrieved 3 August 2012. Unknown parameter
|url-status=ignored (help) - ↑ "ICAEW family trees". Icaew.com. Archived from the original on 28 February 2010. Unknown parameter
|url-status=ignored (help) - ↑ 5.0 5.1 5.2 5.3 Accounting for Success: a History of Price Waterhouse in America 1890–1990. Harvard Business School Press. 1993. ISBN 978-0-87584-328-5. Search this book on
- ↑ "Price Waterhouse (Biographical details)". The British Museum. Retrieved 17 August 2013.
- ↑ "University of Washington: Accounting firms and organisations". Faculty.washington.edu.
- ↑ "Accounting Giants Call Off Merger Plan : Price Waterhouse, Arthur Andersen Cite 'Differences'". Los Angeles Times. 26 September 1989. Retrieved 17 August 2013.
- ↑ Price Waterhouse and Coopers & Lybrand to merge Weekly Corporate Growth Report 29 September 1997
- ↑ Tagliabue, John (1 March 2000). "International Business Capgemini to Acquire Ernst Young Consulting Business". New York Times. Retrieved 19 June 2020.
- ↑ Farmer, Melanie Austria (29 February 2000). "Ernst & Young sells consulting unit to Cap Gemini". CNET. Archived from the original on 9 August 2011.
