Mazars, an audit and accountancy firm based in the Midlands, has agreed a merger with ZhongShen ZhongHuan, a Chinese audit specialist, creating a business capable of supporting clients in 77 countries as a result.
The merger will result in more than 1,800 professionals from 15 offices across mainland China joining forces, including 83 partners.
Over the next two years, Mazars, which is seen as a leader in the financial services, will combine its expertise with the market reach of ZhongShen ZhongHuan, in order to be prepared for the next mandatory audit rotation for banks.
“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,” said Philippe Castagnac, Mazars’ chief executive and chairman of its executive board.
“This is great news for our UK clients,” said Alistair Wesson, of Mazars. “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.”
Mazars has four offices across the Midlands, in Birmingham, Leicester, Nottingham and Wolverhampton, and in 2015 the firm created mergers in Germany, Australia, Cyprus and Mozambique.