Chinese merger for Mazars

Chinese merger for Mazars

Audit and accountancy specialists Mazars has finalised its merger with Chinese audit firm ZhongShen ZhongHuan, creating a full-service firm with the ability to support clients in 77 countries.

This merger will bring together more than 1,800 professionals, including 83 partners, from 15 offices across mainland China. Mazars will combine its expertise with ZhongShen ZhongHuan’s market reach over the next two years, so as to be ready for the next mandatory audit rotation for banks.

The new group’s partnership structure will deliver value to both existing and new clients, with stronger teams and offices in all major Chinese cities.

This merger will ensure that Mazars continues to strengthen its position in high-growth economies on all continents, and follows mergers in Germany, Australia, Mozambique and Cyprus during 2015.

Philippe Castagnac, CEO of Mazars and chairman of the executive board, states that "after the integration of an important German structure in 2015, this operation in China is not only a significant boost to Mazars' presence and capacities, but also an undertaking for additional development within one of the world's leading economies."

“If we look ahead, the merger between Mazars in China and ZhongShen ZhongHuan

is only the beginning. The unique partnership model is attracting more organisations and teams, which is bringing about more development projects in 2016” explains Mr. Huang, Chairman of the Board of ZhongShen ZhongHuan.

Alistair Wesson of Mazars says: “This is great news for our UK clients. The merger will significantly increase capacity across mainland China, enabling us to better support Chinese companies that are keen to invest or expand in the UK. Additionally, we have made a substantial investment in our China Desk, which is now supported by a team of 16 people.”