Mazars, Forvis form globe-straddling super-group
The two will become a top 10 network worldwide “with extensive scale and coverage”.
Global group Mazars will team up with top 10 US public accounting firm Forvis to create a global network in June next year.
Both groups would remain owned by their current respective partnerships but would operate under a single brand worldwide, Forvis Mazars, and boast about €4.7 billion ($7.9 billion) in revenue.
The new global top 10 network was designed “to be agile, deliver consistency and have the global scale to meet clients’ needs”, the two said.
Mazars Group executive board chairman Hervé Hélias described the move as “transformational”.
“Forming this two-firm network with Forvis complements our existing international integrated partnership and significantly advances Mazars’ international strategy,” he said. “It gives us the scale and expanded presence that we have been striving for in the US and marks us out as a top 10 global network with extensive scale and coverage.”
Forvis CEO Tom Watson said the two firms were already well acquainted.
“It's an opportunity to better serve our clients, especially those with international needs and support our people on a path of continued growth,” he said.
“Our organisations know each other well, with a strong history of collaboration and very similar cultures of putting our people and clients first.”
Mazars managing partner in Brisbane, John Kotzur (pictured), said both firms would retain their independence.
“Globally, Mazars will preserve its integrated partnership model in over 100 countries and territories and Forvis will maintain its partnership structure in the US,” he said.
“Clients doing business internationally will benefit from both firms’ strong focus on local market dynamics and deep industry intelligence. The Forvis Mazars network is designed to support current and future business needs worldwide with consistency, quality, and an unmatched client experience.”
“In Australia we anticipate increased referrals from the US as a result of the new network. Australian clients operating or looking to do business in the US will benefit from both firms’ strong focus on local market dynamics and deep industry intelligence.”
“As a network, Forvis Mazars will enter the top 10 global ranking in our industry (according to the IAB global network rankings), giving us greater opportunities and brand awareness worldwide.
“We believe the network will be attractive to international clients and talent alike in Australia. For our team who wish to embrace a full international experience, there will be enhanced mobility opportunities both with the global network office and between the two member firms.”
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