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The firm in its recent actual form was created in 1998 by a merger between two accounting firms: Coopers & Lybrand, and Price Waterhouse. [1] Both firms had histories dating back to the 19th century. The trading name was shortened to PwC in September 2010 as part of a rebranding effort.
Coopers & Lybrand then merged with Price Waterhouse on July 1, 1998 to form PricewaterhouseCoopers. Kwasha Lipton was combined with PricewaterhouseCoopers' other benefit consulting groups to create Unifi, which was sold to Mellon Financial .
Peter Redmond Scanlon (February 13, 1931 – December 3, 2009) was the chairman and chief executive officer of Coopers & Lybrand, one of the Big Eight auditors, from 1982 to 1991. [1] At a time when other accounting firms were merging, Scanlon kept Coopers & Lybrand independent and grew it through expansion rather than mergers. [1]
In October 1997, Ernst & Young announced plans to merge its global practices with professional services network KPMG, to create the largest professional services organization in the world. The announcement came on the heels of an announced merger between Price Waterhouse and Coopers & Lybrand only a month earlier.
Six years later, in 1973, LRBM merged with the British Cooper Bros. and Co. to form Coopers and Lybrand. In 1978, Deloitte, Plender, Griffiths and Co. merged with Haskins and Sells to become Deloitte, Haskins and Sells and one year later Ernst and Ernst merged its practice with Whinney, Murray and Co. to become Ernst and Whinney. [15]
Led by the UK partnership, a smaller number of Deloitte Haskins & Sells member firms rejected the merger with Touche Ross and shortly thereafter merged with Coopers & Lybrand to form Coopers & Lybrand Deloitte (later to merge with Price Waterhouse to become PwC). [17]
In 1957, Cooper Brothers & Co (UK), McDonald, Currie and Co (Canada), and Lybrand, Ross Brothers & Montgomery (US) merged to form Coopers & Lybrand. For the rest of the century Coopers & Lybrand was known as one of the "Big Eight". [7] On 1 July 1998 the worldwide merger of Price Waterhouse and Coopers & Lybrand created the current ...
In 1980 Sir Kenneth Cork's successor as senior partner, Michael Jordan, led the firm into a merger with Coopers & Lybrand, [6] which continued to use the name. The Cork Gully brand was eventually discontinued in 1999 after Coopers and Lybrand itself merged with Price Waterhouse to form PwC. [7] [8]