You can hear the fapping sound off in the distance as you skim this press release.
As you may remember, last November we were first out the gate with a rumor that Forvis was set to do a big merger. Apparently us letting the cat out of the bag was not well-received by certain Forvis partners who said “don’t believe everything you read on Going Concern” only for the news to hit the “real” media a day or so later. Still, they have a point.
Well unlike the Elliott Davis/Whitley Penn merger that fell apart in the eleventh hour — news that we also reported first *ahem* — Forvis and Mazars were able to hammer out the details and made their alliance official as of June 1.
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.
It was exactly two years ago that BKD and DHG joined forces to become Forvis (that name is still stupid). Prior to that merger, the two firms were in the 14th and 17th spots, respectively, on the IPA 100 in 2021. Combining their powers pushed the conjoined firm to the 8th spot on the list the following year.
While the deal with Mazars’s global operation isn’t exactly a merger merger, Forvis did absorb Mazars USA. Mazars ‘Murica sat at #31 on last year’s IPA 100 ($258 million in revenue) so combined with Forvis’ $1.7 billion that’s still a ways behind #7 Grant Thornton’s $2.3 billion. Though who knows what’s going to happen at GT in the next few years. The absorption of Mazars USA will add 1,000 more professionals to Forvis’ existing stable of 7,000 and 14 office locations to however many Forvis had before which brings their total locations to more than 80.
The newly formed Forvis Mazars boasts more than 40,000 professionals in 100 countries. Mazars appears to have beat out Forvis for who gets to keep their logo as the new group is wearing Mazars’ old outfit.
The new network will have a global board overseeing operations. That board is:
Hervé Hélias will serve as the first Chair of the Global Network Board. Hélias also will 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 Global 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.
Good thing Hervé Hélias isn’t going anywhere because that guy brings so much European swagger (Lord knows Forvis needs all the cool points they can get).
Alright, brace yourselves for the quotes.
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.”
There are a few leadership changes to note as well.
New Managing Partners
Connie Cagle – Boston
Chris Clark – Dallas
Chris Lindner – Nebraska
Karine Philippon – California & Arizona
Danielle Solomon – Chicago
Heather Wallace – Birmingham, Alabama & Jackson, Mississippi
Andy Williams – Arkansas
New Assistant Managing Partners
Paula Ferreira – New Jersey
Craig Fine – Long Island
Marty Garland – Philadelphia
Carlos Martins – New York City
Rob Opitz – Fort Worth
Andy Young – Fort Wayne, Pittsburgh & Charleston
New Industry Leaders
Brad Brotherton – Healthcare National Industry Leader
Ashley Ensley – Financial Services National Industry Leader
Steve LaFrance – Healthcare Consulting Managing Partner
New Firm Leaders
John Roberts – Chief Performance Officer
Jim Blake – Co-Regional Managing Partner, Northeast Region
If anyone has details that didn’t make the press release and would like to ruin a partner’s day, get in touch. Tipsters are anonymous, always.
Congrats to the happy couple.
So given an opportunity to reevaluate the name ‘Forvis’ they decided to stick with it, huh?
I think of fore skin when I see that name.
BKD has come a long way since the days of the “dominant professional services firm in the heartland of America”
~tHP