Forvis Mazars shakes up professional services industry with its new $5 billion global network
3 June 2024: Two leading professional services firms, Mazars, an international partnership operating in over 100 countries and territories, and FORVIS, a top ranked firm in the United States, today mark the official launch of their new global network, Forvis Mazars.
Forvis Mazars, a top 10 global network* is the largest new entrant into the global rankings in decades. As a two-firm network, Forvis Mazars is unique in the market and provides the agility, capacity and coverage to support clients wherever in the world they operate. This move brings increased choice in the market, serving the public interest.
Key leadership positions revealed
The network comprises two members: Forvis Mazars, LLP in the United States and Forvis Mazars Group SC, an internationally integrated partnership operating in over 100 countries and territories. The network will be governed through a structure that includes a Global Network Board, responsible for enabling seamless collaboration and client delivery worldwide.
Global Network Board:
- Hervé Hélias will serve as the first Chair of the Global Network Board. Hélias will also continue to serve his ongoing mandate as Chairman of the Group Executive Board of Forvis Mazars Group, SC (formerly Mazars Group). Matt Snow, Chairman of Forvis Mazars, LLP (formerly FORVIS, LLP) will serve as Vice Chair of the Global Network Board.
- In the United States, Tom Watson will continue to serve as CEO of Forvis Mazars, LLP (formerly FORVIS, LLP) and will also sit on the Network Board. Rob Pruitt, Fran Randall and Tim York from Forvis Mazars, LLP will sit on the Global Network Board.
- David Chaudat, Pascal Jauffret, Véronique Ryckaert and Phil Verity from Forvis Mazars Group will sit on the Global Network Board.
Hélias comments: “This is a momentous and exciting time for our clients, our profession and our people. Mazars and Forvis have worked together for over 20 years and share a commitment to delivering an outstanding client experience. We are well positioned to deliver excellence, everywhere, under a single global brand. Clients will get consistent, high-quality, comprehensive services worldwide, and we remain agile and flexible to their specific needs. I am extremely proud to serve as first Chair of the Global Network Board. Working together, I am confident that our two firms will continue to empower our people to raise the bar for client service standards, while challenging industry opportunities to support future needs in local markets.”
“Forvis Mazars is built on our commitment to listen to our clients, anticipate the challenges they face, and deliver an unmatched client experience in all that we do,” Watson said. “This new network will quickly unlock new opportunities for our clients and our people, and both groups can feel confident that we are making decisions with their long-term success in mind.”
What does this mean for Australia?
Managing Partner in Sydney, Matthew Ashley said, “our Australian practice has experienced strong growth in recent years, and we expect our expanded US presence will further support this trajectory as we grow alongside our clients. As the accounting and consulting industry evolves and legislative and compliance requirements increase, it’s crucial that we are well poised to best support our clients. The significant demand for change in our profession makes the arrival of our new network timely in Australia, ensuring ongoing success and adaptability in a dynamic landscape.”
“Our goal is to influence change, offering greater access and increased choice in a concentrated but vital market. By joining forces with FORVIS, we are building a unique two-firm network that works as one team, with deep local expertise and consistency across borders. By expanding our presence in the United States and entering the global top ten, we are equipped to deal with the challenges our clients face now and in the future. From mastering new technology and embracing sustainability to complying with evolving regulations, our multidisciplinary model covers the needs of our domestic and international clients, regardless of size or industry. This, in our view, is what serving the public interest looks like in action,” concludes Matthew.
*Source: IAB World Network rankings 2023.
Based on 2023 revenues of Mazars €2.8bn ($3bn) and FORVIS €1.6bn ($1.7bn)