Mazars

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Mazars
Type Société cooperative à responsabilité limitée, based in Belgium
Industry Professional services
Founded Rouen, France (1940)
Headquarters Paris, Flag of France.svg France
Key people Philippe Castagnac, Group CEO
Patrick de Cambourg, Chairman
Services Audit
Chartered Accountant
Consulting
Taxation
Corporate Finance
Financial advisory
Legal
Revenue Increase€1.013 billion euro (2012)
Employees 13,000 (2011)
Website www.mazars.com

Mazars is a global audit, accounting and consulting group employing more than 13,500 professionals in 71 countries through member firms.[1] With head offices in France, Mazars is the 11th largest accounting firm in the world.[2] Mazars has a network of correspondent partners and joint ventures in a further 21 countries and is a founding member of the Praxity alliance, a network of independent firms.

Worldwide turnover for the integrated partnership for the fiscal year ending August 2012 was 1.013 billion euro.[3] Mazars is ranked as the fifth largest accountancy firm in Europe.[citation needed] Mazars operates as a single entity as a fully integrated partnership. Mazars publicizes its consolidated financial accounts, a move it claims is unusual for private audit and advisory firms.[4]

History[edit]

The original Mazars firm was formed in Rouen, Normandy in France in 1940, by Robert Mazars. Mazars stayed a local firm until the 1980s when former CEO Patrick de Cambourg started to internationalize the firm growing the business from 33 employees in 1977 to the global firm of today.

France[edit]

Mazars merged with accounting firm "Guérard Viala" to form "Mazars & Guérard" in 1965.

United Kingdom[edit]

On 1 September 1998 "Mazars & Guerard" merged with the British accountancy firm "Neville Russell" and traded, in the UK, for a number of years as "Mazars Neville Russell". In 2002, "Mazars Neville Russell", as well as its counterpart firms across Europe, changed the name to become simply Mazars. Mazars currently employs 1,000 people in 18 offices[5] in the UK and turnover is around €100m.[6]

In April 2007 Mazars merged with the London office of MRI Moores Rowland which will create a firm with turnover in the UK exceeding £90million.[7]

Mazars, prior to the MRI Moores Rowland merger, was listed as the 14th largest accountancy firm in the UK with about £65 millions fee income,[8] however following the merger and with the merger between Grant Thornton and RSM Robson Rhodes in the summer of 2007, Mazars was listed as 12th[9] with an estimated fee income of £90.3m.

"Neville Russell" was founded in 1900 by Charles Neville Russell to work principally with the insurance sector of the economy. Neville Russell developed a reputation in London of being specialists in this area.

Mazars is a keen advocate of a more open audit market and notably of joint audit.

Netherlands[edit]

As of 2003 Mazars integrated "Paardekooper & Hoffman" (of the Netherlands), which employed 800 people. In the Dutch audit market Mazars ranks as the sixth largest firm and contributes more than 15% of the total global turnover.

Jan Paardekooper founded "Paardekooper & Hoffman" in 1927. The firm worked with large clients involved in the maritime and harbour businesses of Rotterdam.

Germany[edit]

In April, 2007 Mazars and RSM Hemmelrath announced their merger which united about 400 professionals and €50 millions of turnover in the German market. Today (2008), Mazars Hemmelrath has eight offices in German metropolitan areas offering a range of audit, tax, and legal consulting services.[10][10]

Pakistan[edit]

In April, 2010 Mazars integrated BearingPoint into their business in Pakistan, thus adding advisory services in management and technology for sectors such as microfinance, financial services and within the public sector.[11]

Turkey[edit]

Mazars Denge was founded by two partners as Denge Denetim YMM A.S. in 1977. Today Mazars Turkey operates in six offices Istanbul (3 offices), Ankara, Izmir and Bursa with more than 200 persons workforce.

Mazars Turkey, is among the top 5 Audit & Accounting firms in Turkey and serve a portfolio of more than 500 clients in various sectors from which 50% are foreign companies with 19 partners (including 13 CPA).

Mazars Turkey Won The Tax Firm Of The Year Award in 2008 and Best Transfer Pricing Firm Award in 2009. [12]

United States[edit]

In April 2010, Mazars and Weiser, an audit and advisory firm with a strong presence in the north eastern region of the US, announced their merger. Partners from both entities voted to incorporate 74 Weiser partners into Mazars’ international integrated partnership. The deal marked a new stage in the Mazars’ international development.

Thailand[edit]

In 2007, continuing its Asian expansion, Mazars merged with the existing Double Impact Group in Thailand. Since then, Mazars Thailand has enjoyed substantial and consistent growth and is the market leader for providing Outsourced Accounting Services as well as being a significant provider of Audit, Tax and Legal services to an International Standard in the Thai professional services market. More information is available at www.mazars.co.th

Change in Mazars governance[edit]

Mazars changed its governance in January 2012:[13]

  • Patrick de Cambourg is now Chairman, and also chairs the Group Governance Council, which includes two independent members from outside the firm: Denise Fletcher and François de Carbonnel. Douglas A. Phillips, the Managing Partner of WeiserMazars, is Vice Chairman along with Pierre Sardet.
  • Philippe Castagnac has become the Group’s CEO and chairs the Group Executive Board, which has welcomed three new members – Hervé Hélias, Phil Verity and Victor Wahba. They join existing members Antonio Bover and Hilton Saven.
  • A Group Strategic Committee has been created and is chaired by Patrick de Cambourg. This strategic committee is charged with proposing and supporting Mazars' strategic developments worldwide. Douglas A. Phillips, Michel Barbet-Massin and Group CEO Philippe Castagnac are also part of the committee.

Management[edit]

Group Executive Board

Philippe Castagnac CEO of the Group

Antonio Bover Co-CEO of the Group and Managing Partner of Mazars in Spain

Hervé Hélias Co-CEO of the Group and Head of GBU PIE

Hilton Saven Co-CEO of the Group and Managing Partner of Mazars in South Africa

Phil Verity Co-CEO of the Group and Head of GBU OMB

Victor Wahba Co-CEO of the Group and responsible for the operational ties with the United States

Group Governance Council

Patrick de Cambourg (France) Chairman

Doug Phillips (USA), Vice-Chairman

Pierre Sardet (France), Vice-Chairman

Kathryn Byrne (USA)

François de Carbonnel (France)

Ali Elaouani (Tunisia)

Denise Fletcher (USA)

Patrice de Folleville (Germany)

Tim Hudson (United Kingdom)

Ruud Krouwer (Holland)

Kenneth Morrison (Hong Kong)

Group Strategic Committee

Patrick de Cambourg (France) Chairman

Philippe Castagnac CEO of the Group

Douglas A. Phillips Managing Partner of Mazars in the United States

Michel Barbet-Massin Partner, member of the Group Strategic Committee

External links[edit]

References[edit]

  1. ^ Facts and figures - Mazars - United Kingdom
  2. ^ The Top Accounting Firms In The World - Big 4 Accounting Firms
  3. ^ http://annualreport.mazars.com/ar/ar20112012/
  4. ^ http://annualreport.mazars.com/ - annual report website at 03:47, 7 March 2011 (UTC)
  5. ^ Detail of UK offices
  6. ^ Mazars expansion
  7. ^ Announcement of merger with MRI Moores Rowland/
  8. ^ Top50 Accounting firms in the UK 2006
  9. ^ http://www.accountancyage.com/resource/top50%7CSummer 2007 Top 50 UK accounting firms
  10. ^ a b Home - Mazars - Deutschland
  11. ^ Mazars integrates BearingPoint Pakistan - Mazars Group
  12. ^ Mazars / Denge Denetim YMM
  13. ^ Mazars fees grow 8.2% in 2011 - 06 Jan 2012 - Accountancy Age
  1. History of Mazars