What is meant by white-shoe law firm? Key Takeaways. A “white shoe firm” is an old-fashioned term for the most prestigious, well-established businesses and companies. White shoe firms are concentrated in certain professions, especially law, banking, and finance.
Where does the term white-shoe law firm come from? The term originated in the Ivy League colleges and originally reflected a stereotype of old-line firms populated by White Anglo-Saxon Protestants (WASPs). The term historically had antisemitic connotations, as many of the New York firms known as white-shoe were considered inaccessible to Jewish lawyers until the 1960s.
Is Morgan Stanley a white shoe firm? The most famous white shoe firms are PricewaterhouseCoopers, Goldman Sachs, KPMG, Coudert Brothers, Merrill Lynch, and Morgan Stanley. Over the past few years, the term white shoe firm has expanded to denote top-notch firms in many countries across the world.
What does the expression white-shoe mean? Definition of white-shoe
: of, associated with, or characteristic of the privileged moneyed upper class : upper-crust a white-shoe law firm.