Mazars merger with Chinese firm ZhongShen ZhongHuan
Merger brings together more than 1,800 professionals, including 83 partners, from 15 offices across mainland China
MAZARS has today finalised its merger with Chinese audit firm ZhongShen ZhongHuan in December 2015, to create a full-service firm with the ability to support clients in 77 countries.
The merger – which follows similar moves in Germany, Australia, Mozambique and Cyprus during 2015 – will bring together more than 1,800 professionals, including 83 partners, from 15 offices across mainland China, Mazars said.
Mazars will combine with ZhongShen ZhongHuan’s market reach over the next two years, so as to be ready for the next mandatory audit rotation for banks.
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”.
ZhongShen ZhongHuan will be able to offer improved support through the Mazars partnership for Chinese clients that are pursuing internationalisation, in particular major public sector accounts and investments projects.
Zhang Liwen, chief chartered accountant of ZhongShen ZhongHuan, has been appointed to the Mazars group executive board. Wenxian, chief partner of ZhongShen ZhongHuan, has been appointed to the Mazars group governance council.
Phil Verity, Mazars’ UK senior partner said: “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.”