World Services Group
Encyclopedia
WSG, also branded as World Services Group, is a multidisciplinary professional services network
of independent law, accountng and investment banking firms. It ranks as one of the largest professional services networks
in the world. The largest professional services networks by number of partners are Deloitte, PwC
, E&Y, KPMG
, Lex Mundi
, WSG - World Services Group, TerraLex, State Capital Group and BDO International
. There are more than 200 professional services networks
.
WSG members are independent law
, accounting
and investment banking
firms. According to the organization's website , WSG members have more than 19,000 professionals in more than 90 countries in almost 400 offices.
Its global headquarters are located in the JPMorgan Chase Tower (Houston)
, Houston, Texas
,
, it became clear that a law firm controlled by an accounting firm and providing services to a common client contained an inherrant conflict of interest. The passage of Sarbanes Oxley effectively prohibited accounting firms from providing legal services through a controlled law firm.
Independent law and accounting firms creating networks in which no facilities and client profits were shared remained permissible.
A number of networks took advantage of the availability of this exception for multidisciplinary networks
to expand. They included MSI Global Alliance Morison International and the Geneva Group. WSG was formed in 2002 as a multidisiplinary network.
WSG Network WSG was founded by an organization committee of seven lawyers: Stephen McGarry, Jaime Carey (Chile), Harvey Sorenson (Kansas), Tim Powers (Texas), Paul Hally (Scotland), Jorge Gonzalez (Puerto Rico) and Mark Whitehead (Illinois). The organization process lasted more than two years. WSG was officially launched in October 2002 at the first annual meeting in Dallas, Texas. It then consisted on 57 firms with 9,000 professionals.
The primary objective of WSG is to create global access for members and non-members to professional services by location (state or country) and by the expertise (practice area or industry) of each professional. WSG has database of expertise and the interests of each 12,000 professionals.
Member firms were individually evaluated and selected. The result is a database of 12,000 professionals at the member firms who can be identified by any terms within their profiles. WSG is one of the first global transparent networks of professionals that can be accessed for both their location and their expertise and experience.
The original services were:
Focus Today WSG expanded to 150 members by 2008 which had more than 19,000 professionals. In 2010 the board made the decision focus on three services: legal
, accounting
and investment banking
/financial services
.
of independent firms who represent their own individual clinet. As almost all networks, WSG is governed by a board of directors
consisting of representatives from each region and from the various services that the members provide. The bylaws provide for 16 directors chosen from the member firms. The president is also a board member. An executive committee of the officers meets monthly. The board meets in person four times a year. The terms of the board of directors are for 4 years. WSG operates and is managed by a staff of eight professionals in Houston.
/Middle East
, Asia
/Pacific, Latin America
, Caribbean
, and North America
. Each region has a regional council consisting of 6 representatives from the member firms. At least one member of the council is also on the board of directors.
Africa and Middle East /Africa consists on 16 member countries with over 450 professionals. The regional council chair is Eve Sinare of Lex law firm in Tanzania
Asia/Pacific has as members the largest firms in the region. The China-based Dacheng Law Offices
has around 1,600 attorneys across 42 offices. Minter Ellison
has 1,500 attorneys in 9 offices. The regional council chair is Mark Harty of LCS in Taiwan.
The European regional network consists of firms in 43 countries with over 6,000 professionals. It is the largest network after the Big 4 accounting networks The regional council is headed by Weronika Pelz of Wardynski and Partners the largest law firm in Poland. The Latin America region has 27 members. Its regional council is lead by Jorge Velarde of Rodrigo Elias Medrano one of the largest law firms in the country. The North American regions is lead by Larry Pascal of *Haynes & Boone
Multidisciplinary professional services networks
Multidisciplinary professional services networks are organizations formed by law, accounting and other professional services firms to offer clients new multidisciplinary approaches solving increasingly complex issues. They are a type of professional services network which operates to provide...
of independent law, accountng and investment banking firms. It ranks as one of the largest professional services networks
Professional services networks
Professional services networks are networks of independent firms who come together to cost-effectively provide services to clients through an organized framework. They are principally found in law and accounting. They may also be found in investment banking, insurance, real estate and architectural...
in the world. The largest professional services networks by number of partners are Deloitte, PwC
PwC
PricewaterhouseCoopers is a global professional services firm headquartered in London, United Kingdom. It is the world's largest professional services firm measured by revenues and one of the "Big Four" accountancy firms....
, E&Y, KPMG
KPMG
KPMG is one of the largest professional services networks in the world and one of the Big Four auditors, along with Deloitte, Ernst & Young and PwC. Its global headquarters is located in Amstelveen, Netherlands....
, Lex Mundi
Lex Mundi
Lex Mundi is a professional services network. It is the largest law firm networks. The network was established in 1989. As of 2011 it had 160 member firms which have 21,100 attorneys...
, WSG - World Services Group, TerraLex, State Capital Group and BDO International
BDO International
BDO International is a worldwide professional services network of public accountancy firms, serving national and international clients. Each BDO Member Firm is an independent legal entity in its own country. The network, originally formed in 1963 as Binder Seidman International Group, is...
. There are more than 200 professional services networks
Professional services networks
Professional services networks are networks of independent firms who come together to cost-effectively provide services to clients through an organized framework. They are principally found in law and accounting. They may also be found in investment banking, insurance, real estate and architectural...
.
WSG members are independent law
Law firm
A law firm is a business entity formed by one or more lawyers to engage in the practice of law. The primary service rendered by a law firm is to advise clients about their legal rights and responsibilities, and to represent clients in civil or criminal cases, business transactions, and other...
, accounting
Accountancy
Accountancy is the process of communicating financial information about a business entity to users such as shareholders and managers. The communication is generally in the form of financial statements that show in money terms the economic resources under the control of management; the art lies in...
and investment banking
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
firms. According to the organization's website , WSG members have more than 19,000 professionals in more than 90 countries in almost 400 offices.
Its global headquarters are located in the JPMorgan Chase Tower (Houston)
JPMorgan Chase Tower (Houston)
JPMorgan Chase Tower, formerly Texas Commerce Tower, is a , 75-story skyscraper in Houston, Texas. It is currently the tallest building in the city, the tallest building in Texas, the tallest five-sided building in the world, 12th tallest building in the United States, and the 54th tallest building...
, Houston, Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
,
History
Multidisciplinary professional services networks were an important phenomenon in the late 1990s and early part of 2000. The Big 5 accounting firms were creating their own law firm networks. Their objective was to share fees with the lawyers in the network. Lawyers and law firms were threatened by the size of these networks. They felt that this was a violation of the rules of legal ethics which prohibited sharing fees with non-lawyers. After the fall of EnronEnron
Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. Before its bankruptcy on December 2, 2001, Enron employed approximately 22,000 staff and was one of the world's leading electricity, natural gas, communications, and pulp and paper companies, with...
, it became clear that a law firm controlled by an accounting firm and providing services to a common client contained an inherrant conflict of interest. The passage of Sarbanes Oxley effectively prohibited accounting firms from providing legal services through a controlled law firm.
Independent law and accounting firms creating networks in which no facilities and client profits were shared remained permissible.
A number of networks took advantage of the availability of this exception for multidisciplinary networks
Multidisciplinary professional services networks
Multidisciplinary professional services networks are organizations formed by law, accounting and other professional services firms to offer clients new multidisciplinary approaches solving increasingly complex issues. They are a type of professional services network which operates to provide...
to expand. They included MSI Global Alliance Morison International and the Geneva Group. WSG was formed in 2002 as a multidisiplinary network.
WSG Network WSG was founded by an organization committee of seven lawyers: Stephen McGarry, Jaime Carey (Chile), Harvey Sorenson (Kansas), Tim Powers (Texas), Paul Hally (Scotland), Jorge Gonzalez (Puerto Rico) and Mark Whitehead (Illinois). The organization process lasted more than two years. WSG was officially launched in October 2002 at the first annual meeting in Dallas, Texas. It then consisted on 57 firms with 9,000 professionals.
The primary objective of WSG is to create global access for members and non-members to professional services by location (state or country) and by the expertise (practice area or industry) of each professional. WSG has database of expertise and the interests of each 12,000 professionals.
Member firms were individually evaluated and selected. The result is a database of 12,000 professionals at the member firms who can be identified by any terms within their profiles. WSG is one of the first global transparent networks of professionals that can be accessed for both their location and their expertise and experience.
The original services were:
- Architectural Design
- Accounting
- Employment and Personnel Recruiting
- Investment Banking
- Legal
- Insurance Brokerage
- Offshore Financial Services
- Public Relations
- Construction and Engineering
- Real Estate Brokerage
- Translation
- Media and Advertising
Focus Today WSG expanded to 150 members by 2008 which had more than 19,000 professionals. In 2010 the board made the decision focus on three services: legal
Law firm
A law firm is a business entity formed by one or more lawyers to engage in the practice of law. The primary service rendered by a law firm is to advise clients about their legal rights and responsibilities, and to represent clients in civil or criminal cases, business transactions, and other...
, accounting
Accountancy
Accountancy is the process of communicating financial information about a business entity to users such as shareholders and managers. The communication is generally in the form of financial statements that show in money terms the economic resources under the control of management; the art lies in...
and investment banking
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
/financial services
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
.
WSG Network Technical Platform
The development of WSG centered on a technical platform to provide multi-tier networking capabilities. This allows the building of relationships and the maintenance, growth and interaction of members. WSG has proprietary technology that permits the individual professionals to access each other, communicate, develop relationships, and establish internal preferences. Professionals can transparently interact. The systems content is individualized for each professional.Global Structure and Corporate Governance
WSG is a global professional services networkProfessional services networks
Professional services networks are networks of independent firms who come together to cost-effectively provide services to clients through an organized framework. They are principally found in law and accounting. They may also be found in investment banking, insurance, real estate and architectural...
of independent firms who represent their own individual clinet. As almost all networks, WSG is governed by a board of directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
consisting of representatives from each region and from the various services that the members provide. The bylaws provide for 16 directors chosen from the member firms. The president is also a board member. An executive committee of the officers meets monthly. The board meets in person four times a year. The terms of the board of directors are for 4 years. WSG operates and is managed by a staff of eight professionals in Houston.
Officers
- Ronaldo Veirano - Chair
- Stephen McGarry – President
- Brad Kaplan - Chair-Elect
- Sergio Michelson - Secretary
- Sandy Miller – Treasurer
- Peter Utterstrom – Chair Emeritus
- Maricarmen Trujillo - VP
Directors
The 16 directors are representative of their regions.- Lawrence Anga (Legal - Nigeria)
- Johan Boeren (Legal - Netherlands)
- Sandy Miller (Accounting - Texas)
- Vincente Calle (Legal - Spain)
- Eric Iskra (Legal - West Virginia)
- Robert Falvey (Legal - New Zealand)
- Brad Kaplan (Legal - Ohio)
- Suet Fern Lee (Legal - Singapore)
- Stephen McGarry (President - Texas)
- Patrick Celestine (Legal - Germany)
- Sergio Michelson (Legal - Colombia)
- Pablo St. Martin (Accounting - Argentina)
- Jeff Risius (Investment Banking - Michigan)
- Ronaldo Veirano (Legal - Brazil)
- Jorge Velarde (Legal - Peru)
- Pam Webster (Legal - Anguilla)
Regions
WSG is divided into 7 regions: AfricaAfrica
Africa is the world's second largest and second most populous continent, after Asia. At about 30.2 million km² including adjacent islands, it covers 6% of the Earth's total surface area and 20.4% of the total land area...
/Middle East
Middle East
The Middle East is a region that encompasses Western Asia and Northern Africa. It is often used as a synonym for Near East, in opposition to Far East...
, Asia
Asia
Asia is the world's largest and most populous continent, located primarily in the eastern and northern hemispheres. It covers 8.7% of the Earth's total surface area and with approximately 3.879 billion people, it hosts 60% of the world's current human population...
/Pacific, Latin America
Latin America
Latin America is a region of the Americas where Romance languages – particularly Spanish and Portuguese, and variably French – are primarily spoken. Latin America has an area of approximately 21,069,500 km² , almost 3.9% of the Earth's surface or 14.1% of its land surface area...
, Caribbean
Caribbean
The Caribbean is a crescent-shaped group of islands more than 2,000 miles long separating the Gulf of Mexico and the Caribbean Sea, to the west and south, from the Atlantic Ocean, to the east and north...
, and North America
North America
North America is a continent wholly within the Northern Hemisphere and almost wholly within the Western Hemisphere. It is also considered a northern subcontinent of the Americas...
. Each region has a regional council consisting of 6 representatives from the member firms. At least one member of the council is also on the board of directors.
Africa and Middle East /Africa consists on 16 member countries with over 450 professionals. The regional council chair is Eve Sinare of Lex law firm in Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...
Asia/Pacific has as members the largest firms in the region. The China-based Dacheng Law Offices
Dacheng Law Offices
Dacheng Law Offices is an international law firm headquartered in Beijing, China. It is the largest China-based law firm measured by number of lawyers....
has around 1,600 attorneys across 42 offices. Minter Ellison
Minter Ellison
Minter Ellison has been ranked the largest Australian-based international law firm . In Australia it is considered one of the Big Six law firms.-Offices:Minter Ellison has offices in 14 cities and five countries....
has 1,500 attorneys in 9 offices. The regional council chair is Mark Harty of LCS in Taiwan.
The European regional network consists of firms in 43 countries with over 6,000 professionals. It is the largest network after the Big 4 accounting networks The regional council is headed by Weronika Pelz of Wardynski and Partners the largest law firm in Poland. The Latin America region has 27 members. Its regional council is lead by Jorge Velarde of Rodrigo Elias Medrano one of the largest law firms in the country. The North American regions is lead by Larry Pascal of *Haynes & Boone
Member Awards and Statistics
Many members of WSG annually are nominated for awards in their countries and region. Members regularly rank in Chambers and Partners, Super Lawyers, Best Lawyers, Legal 500, International Financial Law Review 1000 and other rating organizations.Representative Members
- Akerman SenterfittAkerman SenterfittAkerman Senterfitt is a large law firm, BigLaw, based in Miami, Florida. It was founded in 1920 and has grown to become one of the largest in the United States. In 2008, the National Law Journal ranked the firm as 92nd largest in the U.S. by number of attorneys, and the second-largest...
- Florida - Asters (Schevchenko, Didkovsky and Partners) - Ukraine
- Balch & BinghamBalch & BinghamBalch & Bingham, LLP is a regional law firm based in Birmingham, Alabama. Founded in 1920, Balch & Bingham also has offices in Montgomery, Alabama, Atlanta, Georgia, Gulfport, Mississippi, Jackson, Mississippi and in Washington, D.C....
- Alabama - DeaconsDeacons (law firm)Deacons is Hong Kong's oldest and largest independent, commercial law firm with three representative offices in Mainland China, in Shanghai, Beijing and Guangzhou...
- Hong Kong
- GarriguesGarriguesLes Garrigues is a comarca in Catalonia, Spain. Its capital is Les Borges Blanques. Its symbol is an olive branch, Les Garrigues being the center of olive cultivation in all of Catalonia...
- Spain - Haynes & Boone - Texas
- Hunton & WilliamsHunton & WilliamsFounded in 1901, Hunton & Williams LLP is a US law firm that employs more than 800 lawyers. It has been called "one of the most well-connected legal and lobbying firms in DC." The firm was founded in Richmond, Virginia and has 18 other offices throughout the United States, Europe, and Asia. In...
- Virginia
- Husch Blackwell- Missouri
- Lowenstein SandlerLowenstein SandlerLowenstein Sandler is an AmLaw 200 corporate law firm with offices in New York, Palo Alto and Roseland, NJ. In 2007, the firm was ranked 157th largest in the United States in terms of attorney headcount by the National Law Journal, and 84th in profit per attorney by the AmLaw 200 survey. Many...
- New Jersey - Nutter McClennen & FishNutter McClennen & FishNutter McClennen & Fish LLP is a prominent law firm in Boston, Massachusetts. It was founded in 1879 by U.S. Supreme Court Justice Louis D. Brandeis and his Harvard Law School classmate Samuel D. Warren....
- Massachesetts
- Minter EllisonMinter EllisonMinter Ellison has been ranked the largest Australian-based international law firm . In Australia it is considered one of the Big Six law firms.-Offices:Minter Ellison has offices in 14 cities and five countries....
- Australia - Stites & HarbisonStites & HarbisonStites & Harbison has offices in Louisville, Lexington and Frankfort, Kentucky; Jeffersonville, Indiana; Nashville and Franklin, Tennessee; Atlanta, Georgia; and Alexandria, Virginia. U.S...
- Kentucky - Verrill DanaVerrill DanaVerrill Dana, LLP is a leading New England regional law firm, with offices in Portland, ME, Augusta, ME, Boston, MA, Hartford, CT, and Washington D.C. Verrill Dana was founded in 1862, and since then has grown into one of the few law firms based in Maine that has satellite offices around the...
- Maine
See also
- Umbrella organizationUmbrella organizationAn umbrella organization is an association of institutions, who work together formally to coordinate activities or pool resources. In business, political, or other environments, one group, the umbrella organization, provides resources and often an identity to the smaller organizations...
- Business networkingBusiness networkingBusiness networking is a socioeconomic activity by which groups of like-minded businesspeople recognize, create, or act upon business opportunities. A business network is a type of social network whose reason for existing is business activity...
- Organizational StudiesOrganizational studiesOrganizational studies, sometimes known as organizational science, encompass the systematic study and careful application of knowledge about how people act within organizations...
- Professional services networksProfessional services networksProfessional services networks are networks of independent firms who come together to cost-effectively provide services to clients through an organized framework. They are principally found in law and accounting. They may also be found in investment banking, insurance, real estate and architectural...
- Multidisciplinary professional services networksMultidisciplinary professional services networksMultidisciplinary professional services networks are organizations formed by law, accounting and other professional services firms to offer clients new multidisciplinary approaches solving increasingly complex issues. They are a type of professional services network which operates to provide...
- Law Firm Networks
- Accounting networks and associationsAccounting networks and associationsAccounting networks and associations are professional services networks whose principal purpose is to provide members resources to assist the clients around the world. The networks and associations operate independently of the independent members. The largest accounting networks are known as the...