PricewaterhouseCoopers (now PwC), formed in 1998 from a merger between Price Waterhouse and Coopers & Lybrand, has a history in client services that dates back to the nineteenth century. Both accounting firms originated in London during the mid 1800s. Today, PwC serves 26 industries. Our industry-focused services in the fields of assurance, tax, human resources, transactions, performance improvement and crisis management have helped resolve complex client and stakeholder issues worldwide. We also bring our expertise and talents to help educational institutions, the federal government, non-profits, and international relief agencies address their unique business issues.
Set out below are some key milestones in the history of both firms.
1849 – Samuel Lowell Price sets up in business in London.
1854 – William Cooper establishes his own practice in London, which seven years later becomes Cooper Brothers.
1865 – Price, Holyland and Waterhouse join forces in partnership 1874 Name changes to Price, Waterhouse & Co.
1898 – Robert H. Montgomery, William M. Lybrand, Adam A. Ross Jr. and his brother T. Edward Ross form Lybrand, Ross Brothers and Montgomery.
1957 – Cooper Brothers & Co (UK), McDonald, Currie and Co (Canada) and Lybrand, Ross Bros & Montgomery (US) merge to form Coopers & Lybrand.
1982 – Price Waterhouse World Firm formed.
1990 – Coopers & Lybrand merges with Deloitte Haskins & Sells in a number of countries around the world.
1998 – Worldwide merger of Price Waterhouse and Coopers & Lybrand to create PricewaterhouseCoopers.
2002 – PricewaterhouseCoopers' partners approve sale of PricewaterhouseCoopers Consulting to IBM.
2004 – PricewaterhouseCoopers implements the Connected Thinking methodology.
2010 - PricewaterhouseCoopers formally shortened its brand name to PwC. "PricewaterhouseCoopers" remains the full name of the global organisation for legal purposes, and will be the name used by PwC firms to sign company audits.