Even today, hundreds of PricewaterhouseCoopers' 46,000 U.S. employees have worked as or studied to be lawyers, most of them biding their time as consultants. It's happening in Europe. Established, prestigious and far larger than their American peers, they are making acquisitions in the United States and recruiting at American law schools. More such combinations may be around the corner. Holland faces internal challenges, too.
Low profits are one.
Future acquisitions will only make matters worse. He declined to say how much he is paid but insists he takes a lower salary than he's awarded. Despite the challenges, Holland is better prepared than most for the future. It is large. It has a growing brand, or as much as a firm with a pair of deceased namesakes can manage.