Price Waterhouse (Biographical details)

Price Waterhouse (institution/organisation; British; 1874)

Also known as

Price Waterhouse; PricewaterhouseCoopers

Biography

Samuel Lowell Price, an accountant, started his practice in London in 1849. In 1865 Price went into partnership with William Hopkins Holyland and Edwin Waterhouse. Holyland left shortly after to work alone in accountancy and the firm was known from 1874 as Price, Waterhouse & Co. (The '& Co' and comma was dropped from the name much later.) The original partnership agreement, signed by Price, Holyland and Waterhouse could be found in Southwark Towers, one of PwC's important legacy offices in London.

By the late nineteenth century, Price Waterhouse had gained significant recognition as an accounting firm. As a result of trade between the United Kingdom and the United States of America, Price Waterhouse opened an office in New York in 1890, and the American firm itself soon expanded rapidly. The original British firm opened an office in Liverpool in 1904 and then elsewhere in the United Kingdom and countries abroad, 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.