The firm may not be the subject of any investigations, but its close involvement with Enron raises the question of whether McKinsey, like some other professional firms, ignored warning flags in order to keep an important account." In 2003 Ian Davis, the head of the London, UK office, was elected to the position of managing director. Davis promised a return to the company's core values, after a period in which the firm had expanded rapidly, which some McKinsey consultants felt was a departure from the company's heritage. Also in 2003, the firm established a headquarters for the Asia-Pacific region in Shanghai, China. By 2004, more than 60 percent of McKinsey's revenues were generated outside the U.S. The company started a Social Sector Office (SSO) in 2008, which is divided into three practices: Global Public Health, Economic Development and Opportunity Creation (EDHOC) and Philanthropy. McKinsey does much of its pro-bono work through the SSO, whereas a Business Technology Office (BTO), founded in 1997, provides consulting on technology strategy. By 2009, the firm consisted of 400 directors (senior partners), up from 151 in 1993. Dominic Barton was elected as Managing Director, a role he was re-elected for in 2012 and 2015. In February 2018, Kevin Sneader was elected as Managing Director. He is serving a three-year term that began on July 1, 2018. McKinsey & Company was originally organized as a partnership before being legally restructured as a private corporation with shares owned by its partners in 1956. It mimics the structure of a partnership and employees are called "partners". The company has a flat hierarchy and each member is assigned a mentor. Since the 1960s, McKinsey's Managing Director has been elected by a vote of senior directors to serve up to three, three-year terms or until reaching the mandatory retirement age of 60. The firm is also managed by a series of committees that each has its own area of responsibility. By 2013, McKinsey was described as having a de-centralized structure, whereby different offices operate similarly, but independently. Each office is expected to put the overall organization's best interest before the office's, which McKinsey refers to as the "one firm" principle. Consultants and engagements are often shared across offices. Revenues from all offices are pooled and an individual office's revenue does not directly affect it financially. The company's budgeting is centralized, but individual consultants are given a large degree of autonomy.