<P> White - shoe firm is a phrase used to describe leading professional services firms in the United States, particularly firms that have been in existence for more than a century and represent Fortune 500 companies . It typically--but not always--refers to banking, accounting, law, and management consulting firms, especially those based in New York and Boston . </P> <P> The phrase "white shoe" has a distinctly different meaning and history in Australia . </P>

What does a white shoe law firm mean