The white shoe company is a leading professional services company in the United States, especially a company that has been around for more than a century and represents Fortune 500 companies. This usually - but not always - refers to a banking consulting firm, accounting, law, and management, especially those based in New York and Boston.
The phrase "white shoes" has a different meaning and history in Australia.
Video White-shoe firm
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The phrase comes from "white money", suede shoes or deer skin with red soles, which have long been popular in Ivy League colleges. Article 1953 Esquire , describes the social strata at Yale University, explains that "White Shoe applies primarily to the social and social type of ambitious affecting many worldly sophistication, running, riding and drinking in rather small gangs, and see the second part of a football game during good weather. "The Oxford English Dictionary quotes the phrase" white-shoe college boys "in JD Salinger's novel Franny and Zooey (1957) as the first use the term.
Maps White-shoe firm
Usage in the United States
The term is derived from Ivy League colleges and initially reflects the stereotypes of old companies inhabited by WASPs. The term historically has an antisemit connotation, as many New York companies known as "white shoes" were considered off limits to Jewish lawyers until the 1960s. This phrase has lost some of this connotation, but it is still defined by Princeton's WordNet University as "showing corporations or law firms owned and run by a generally conservative WASP elite member," which shows that the original connotation has not changed. fully. A 2010 column in The Economist describes this term as synonymous with "big, old, east-coast and quite traditional." In the 21st century, the term is sometimes used in a general sense to refer to companies that are perceived as prestigious or of high quality; sometimes also used in derogatory ways to show stodginess, elitism, or lack of diversity.
Usage in Australia
A similar term in Australia, the "white shoe brigade", has been used in the past to describe a group of Queensland-supported property developers, and benefited, former Queensland State Prime Minister Sir Joh Bjelke-Petersen. The term is an insult to the lower social class antecedents of such people, expressed by their striking and bland clothes choices, which include brightly colored or patterned shirts, trousers with white or pastel stripes, and shoes and a white belt, this often has a gold or gold buckle. They became famous for illegal deals with the government about property development, often with dire consequences for heritage buildings.
Example
The following US companies are often referred to as white shoe companies:
Banks, investment banks, and merchant bank
- Brown Brothers Harriman & amp; Co.
- First Boston (acquired by Credit Suisse, 1990)
- J.P. Morgan & amp; Co. (acquired by Chase Manhattan, 2000, now JPMorgan Chase)
- Morgan Stanley
- White Weld & amp; Co. (acquired by Merrill Lynch, 1978)
Accounting firm
- Deloitte
- Ernst & amp; Young
- KPMG
- PricewaterhouseCoopers
Enterprise Management Consultant
- McKinsey & amp; Company
- Boston Consulting Group
- Oliver Wyman
- Bain & amp; Company
Legal firm
- Cadwalader, Wickersham & amp; Taft
- Coudert Brothers (dead, 2006)
- Covington & amp; Burling
- Cravath, Swaine & amp; Moore
- Davis Polk & amp; Wardwell
- Debevoise & amp; Plimpton
- Dewey & amp; LeBoeuf (dead, 2012)
- Donovan, Convenience, Newton & amp; Irvine (dead, 1998)
- Goodwin Procter
- Hogan & amp; Hartson joined Lovells LLP into Hogan Lovells.
- Kirkland & amp; Ellis
- King & amp; Spalding
- Latham & amp; Watkins LLP
- Mayer Brown
- McCarter & amp; English
- Milbank, Tweed, Hadley & amp; McCloy
- Mudge Rose Guthrie Alexander & amp; Ferdon (dead, 1995)
- Paul, Weiss, Rifkind, Wharton & amp; Garrison
- Patterson Belknap Webb & amp; Tyler
- Pillsbury Winthrop
- Rope & amp; Gray
- Shearman & amp; Sterling
- Sidley Austin
- Simpson, Thacher & amp; Bartlett
- Sullivan & amp; Cromwell
- White & amp; Case
- Willkie Farr & amp; Gallagher
- WilmerHale
- Winston & amp; Interested
The new "white-shoe" banks
Source of the article : Wikipedia
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