Mazars Announces a Strategic Integration in China
Chinese Firm ZhongShen ZhongHuan Joins Mazars' International Group
Mazars, the independent international organization specializing in audit, accountancy, tax, legal and consulting services, announces its integration with Chinese audit firm ZhongShen ZhongHuan in December 2015, to create a full-service organization with the ability to serve clients in 77 countries.
This transaction will bring together more than 1,800 professionals, including 83 partners, from 15 offices across Mainland China. Recognized as a leader in Financial Services (notably in the bank and insurance industries), 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.
This transaction will ensure that Mazars continues to strengthen its position in high-growth economies on all continents, and follows similar integrations in Germany, Australia, Mozambique and Cyprus during 2015. In the U.S., WeiserMazars, an independent member of the Mazars Group, continues its national growth strategy, allowing Mazars to offer opportunities for professionals to deliver high value to both existing and new clients, with stronger teams and offices.
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 significantly improved support through the Mazars integration for Chinese clients that are pursuing internationalization, in particular major public sector accounts and investments projects under the "One Belt One Road" policy.
“If we look ahead, the integration between Mazars in China and ZhongShen ZhongHuan is only the beginning. This unique model is attracting more organizations and teams, which is bringing about more development projects in 2016,” explains Mr. Huang, Chairman of the Board of ZhongShen ZhongHuan.
Mrs. Zhang Liwen, Chief Chartered Accountant of ZhongShen ZhongHuan, has been appointed to the Mazars Group Executive Board. Mr. Shi Wenxian, Chief Partner of ZhongShen ZhongHuan, has been appointed to the Mazars Group Governance Council.