Deep roots in the Ottawa business community — Welch LLP celebrates 100-year milestone
“The ultimate measure of our success is the extent to which our staff and clients achieve their goals” — more than a mission statement, Welch LLP’s continued success and deep roots in the Ottawa community after 100 years in business depends entirely on living out this promise each and every day.
Since its inception, Welch LLP has expanded into new markets and evolved its service offerings; its success is largely owed to the determination of its founder, George A. Welch, and his value as a trusted adviser to many of Ottawa’s homegrown businesses.
Welch was just 10 years old when he lost his father and consequently left school to take on paper routes as means of supporting his family. One of these routes led him to the doorstep of Ernest A. Larmonth, a local businessman, chartered accountant and insurance agent. Larmonth soon came to know the young boy and hired him to work for his business, suggesting Welch give up one of his routes to hand deliver important documents on his behalf. Welch eagerly jumped at this offer, and as time went by, Larmonth became a mentor to Welch, encouraging him to take correspondence courses in accounting and finish his education.
As Welch’s coursework progressed, Larmonth presented an opportunity that would change the course of Welch’s life — upon completion of his coursework and obtaining his Chartered Accountant designation, he would be made a partner in Larmonth’s firm.
Welch received his Chartered Accountant designation in 1917 and became partner.
By 1918, Welch, a now confident businessman, and Larmonth, agreed to go their separate ways with Larmonth pursuing his growing insurance business and the young CA eager to start his own firm. Thus, that same year, Welch founded George A. Welch, Chartered Accountant and Auditor at the Elgin Chambers on Confederation Square. He quickly achieved success and thriving business led to relocation of the practice in 1921 to the Jackson Building on Bank Street and then to the Victoria Building on Wellington Street in 1929. Demands of increased clientele encouraged the hire of additional accountants, most of whom remained with the firm for the duration of their careers. By 1941, the annual gross fees reached $48,000 and by 1948, this number exceeded a whopping $100,000.
In 1949, Welch’s close-knit team grew again, this time with the addition of Welch’s son, Malcolm Welch, a new CA who had followed in his father’s footsteps. Malcolm was innovative and forward thinking, spearheading a new electronic data processing technology, which was booming by 1965. This contribution opened new doors for the firm, and Malcolm incorporated this entity as Welby Services Limited; a maverick and leading force in new computer systems.
Malcolm’s leadingedge approach to business planted the seed for Welch LLP’s strong culture of inclusivity and modernism. The appointment of the firm’s first female partner, Betty Wilson, in 1970, was a testament to this innovative outlook. This time period saw significant inequality in gender roles in public accounting, as the industry was mainly male dominated; only a small percentage of females successfully obtained their high school diplomas, let alone entered the workforce. The addition of Wilson to the firm was Welch LLP’s first step at combating diversity issues not only in upper level management, but in the profession as a whole. “What strikes me the most about Welch, as we begin our 100th year of operation, is the diversity in our people. I don’t mean that in a political sense. I mean it from the point of view of the backgrounds, age and the interests of our people. Welch has always fostered an environment where it is very acceptable to be different. There is no cookie-cutter Welch team member. I am very grateful for this and how it shapes our firm.” — Micheal Burch, Managing Partner These ideologies of equality, innovation and inclusiveness are the foundation of Welch LLP’s success over the past 100 years. Although there is significant value in past experience, the firm continues to develop and embrace new ideas for the next century. Welch LLP may be 100 years old, but the mindset remains to look to the next 100 years and how the firm can continue to evolve to achieve success in the new economy.
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