Professional services firms Mazars and Forvis have come together to launch a £3.9bn ($4.7bn) global network, making it the largest new entrant in global rankings in decades.
French-based Mazers and US-based Forvis have established a two-firm network with both names mashed together, to be known as Forvis Mazars.
The network comprises two members: Forvis Mazars LLP in the US and Forvis Mazars Group, an internationally integrated partnership operating in over 100 countries.
Both firms revealed the planned partnership last November.
UK CEO of Mazars Phil Verity told City A.M. it was “launching a top 10 global network which is genuinely truly unique.” The reason behind was the firm “needed a stronger global reach” to support clients needs.
Verity said the firm’s head office will be based in London. The City “is going to be quite a gateway because it provides a gateway to Europe, it’s one of the main collaboration hubs and it has lots of US-UK traffic,” he added.
He said: “Clients have been consistently telling us that for those with an international kind of appetite, the market is just not really serving them as there is limited choice.”
You’ve got lots of domestic firms, and what clients are really wanting is a kind of global consistency and agility but at the same time from a local client service response expertise. This is why we design this network because two firms gives us the agility and the consistency and to respond to clients quickly,” Verity added
Former CEO of Mazers, Hervé Hélias will now serve as the first chair of the Global Network Board. While former chairman of governing board at Forvis, Matt Snow will serve as vice chair of the Global Network Board.
In the US, Tom Watson will serve as CEO of Forvis Mazars LLP and will also sit on the network board. Rob Pruitt, Fran Randall and Tim York from Forvis Mazars LLP will sit on the Global Network Board.
David Chaudat, Pascal Jauffret, Véronique Ryckaert and Phil Verity from Forvis Mazars Group will sit on the Global Network Board.
“Mazars and Forvis have worked together for over 20 years and share a commitment to delivering an outstanding client experience. We are well positioned to deliver excellence, everywhere, under a single global brand,” Hélias noted in a statement.
Back in March, Mazars global group reported that revenue was up 13 per cent on 2022, hitting €2.8bn in fee income. While Forvis’ recent revenue before the partnership was €1.6bn ($1.7bn).