Mazars in Luxembourg plans to triple its workforce in 5 years - Mazars - Luxemburg

Mazars, an international organisation, specialising in audit, accountancy and advisory, plans to triple, in 5 years, its workforce and activity in Luxembourg by increasing its number of staff to 250. At a worldwide level, the Group brings together more than 13,000 professionals from 61 countries and provides its clients with professional teams, internationally renowned expertise and the highest technical and ethical standards.

2011 is a strategic year for Mazars in Luxembourg. “2011, is essentially a year to focus our activities on the fundamentals of the Group, namely in audit, accountancy and tax” explains Grégory Centurione, co-Managing Partner of Mazars in Luxembourg.  2011 is also the year for us to engage in an ambitious development project to allow us: to support our clients in each of the Group’s strategic fields; to strongly increase our presence within the market, particularly within the finance sector; and to integrate efficiently recent regulatory changes in Luxembourg.

Mazars plans to triple its level of activity within 5 years in Luxembourg.  The provisional turnover for 2011/2012 is 7 million euros and is composed of the following: 65% for audit; 20% for accountancy and 15% for tax advisory. Since the summer break of 2011, 3 new partners have joined the firm in Luxembourg and have strengthened the team. At present, we have 85 highly qualified individuals.

Mazars wants to develop, in particular, its presence in the financial sector, which is predominant within Luxembourg. Banks, insurers and fund managers are part of the objectives in the audit sector. For accountancy and outsourcing, Mazars, which is already very involved in the private equity sector, wants to increase its activity within the Real Estate sector.

Mazars benefits from significant experience within the banking and insurance sector and covers all areas within these professions. In banking, the scope of assignments ranges from retail to investments banks, and through private banks, specialist finance companies, fund managers, private equity firms and financial institutions.  In insurance, Mazars has a high level of expertise in life, health and contingency insurance, as well as in the mutual, retirement and reinsurance areas.

The development of Mazars in Luxembourg is a strategic aim for the Group given the importance of Luxembourg as a financial centre. Banking and insurance represent 34% of the Mazars Group activity and for which the Group can offer experienced and specialist teams that combine practical understanding and responsiveness. As such, Mazars contributes to the flow of reliable and relevant financial information in Europe and in the world.

Tailor-made solutions from a global organisation

Mazars audits 13 of the 40 largest companies on the Paris stock exchange and intends to offer these companies, which are also present in Luxembourg, a comparable service to the one they find in France and other countries in which they are present.  The Group wants to support these clients in their international development, and to ensure the same quality of service wherever they are.

Whilst providing tailor-made solutions, Mazars has a complete service offering, adaptable and flexible to accommodate the needs of large international companies and small and medium-sized enterprises.

‘‘Companies which trust us, in France and elsewhere in the world, will find the same services available in Luxembourg with the same standards of quality and performance” explains Gregory Centurione. This is the reason why Mazars recruits highly qualified staff in their specialist areas and maintains the highest ethical standards.

Mazars invests heavily in human and technical resources for its audit divisions in order to offer a level of services and an organisation that meets the expectations of the financial centre in Luxembourg and its regulatory bodies. Moreover, for its other operations, the office has asked for Professional Status in the financial sector (PSF) so that it can provide accountancy services for regulated entities such as venture capital firms (SICAR) and specialised investment funds.

The Mazars Way

Mazars is an international, integrated and independent organisation, specialising in audit, accountancy, tax, legal and advisory services.

The Group brings together 730 partners of which 150 are French. It had a turnover of 884.4 million euros in 2010 (+14.3% on 2009). It is managed by the Group Executive Board (GEB) of 5 members who are elected for3 years and by a Group Governance Council. All partners contribute fully to the life of the Group.

Mazars is so far the only global audit and advisory service group to present its consolidated accounts, co-audited and according to the IFRS. As a responsible group, Mazars therefore decided from 2005 onwards to be subject to the demands of transparency itself and to publish its consolidated accounts under the same terms as its listed clients.

Press release - Wednesday 12th October 2011

Press contact:

Agence Keep Contact

Ludivine Plessy

Email: ludivine.plessy@keepcontact.lu

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