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The merging of two powerhouse professional services organisations is set to shake up the global industry and transform operations in Australia.
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Forvis Mazars merger to transform global accounting network
04 June 2024
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As previously reported by Accountants Daily, the merging of Forvis, a top 10 accounting firm in the US, and Mazars, an international audit, tax, and advisory firm, was set to happen in June 2024.
Now the time has arrived, and the partnership is coming to fruition. The initiative has been described as “transformational” and is expected to have an impact on the global professional services space.
Now, the senior leadership roles have been announced, with the appointments as follows:
- Hervé Hélias will serve as the first chair of the global network board. He will also continue to serve his ongoing mandate as chairman of the group executive board of Forvis Mazars Group, SC (formerly Mazars Group).
- Matt Snow, chairman of Forvis Mazars, LLP (formerly FORVIS, LLP) will serve as vice chair of the global network board.
- In the US, Tom Watson will continue to serve as chief executive 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.
“This is a momentous and exciting time for our clients, our profession and our people. 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 said.
“Clients will get consistent, high-quality, comprehensive services worldwide, and we remain agile and flexible to their specific needs. I am extremely proud to serve as first chair of the global network board. Working together, I am confident that our two firms will continue to empower our people to raise the bar for client service standards, while challenging industry opportunities to support future needs in local markets.”
The partnership will operate across over 100 countries, culminating in a $5 billion global network. For Australia, this move will see Mazars have a stronger presence in the US, further promoting global growth.
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Australian-based managing partner, Matthew Ashley, said: “Our Australian practice has experienced strong growth in recent years, and we expect our expanded US presence will further support this trajectory as we grow alongside our clients. As the accounting and consulting industry evolves and legislative and compliance requirements increase, it’s crucial that we are well poised to best support our clients.
"The significant demand for change in our profession makes the arrival of our new network timely in Australia, ensuring ongoing success and adaptability in a dynamic landscape.”
“From mastering new technology and embracing sustainability to complying with evolving regulations, our multidisciplinary model covers the needs of our domestic and international clients, regardless of size or industry. This, in our view, is what serving the public interest looks like in action,” Ashley said.
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