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Leading European firm Mazars has announced a merger with an Australian mid-tier, while also revealing it has made a significant move in the Chinese market.
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Mazars announces Australian expansion
20 January 2016
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Mazars is set to merge with Sydney- and Melbourne-based firm Duncan Dovico, with senior partners of the Australian firm joining an integrated international partnership.
Speaking to AccountantsDaily, Warren Duncan, founding partner of Duncan Dovico, confirmed that as a result of the agreement, the Duncan Dovico name would cease to exist.
“The Duncan Dovico name will disappear in a period of time. It will become Mazars Australia,” said Mr Duncan, reaffirming that there will be no change in terms of the running of the practice.
“It doesn’t take us away from our base, which has been SMEs, but there’s an adjunct too, which is the Mazars international exposure,” he added.
The Australian expansion coincides with Mazars' merger involving Chinese firm ZhongShen ZhongHuan, subsequently bringing together 1,800 professionals from 15 offices across mainland China.
“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,” noted Philippe Castagnac, CEO of Mazars and chairman of the executive board.
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Mazars also announced strong annual growth of 15.9 per cent, with 2014-15 fiscal year results of $1.9 billion.
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