By common agreement, from today, MAZARS and MAGELLAN have decided to no longer be part of the same network. The legal professionals, who until now belonged to the integrated MAZARS organisation, can thus carry out their client services to the full, without legal or regulatory restrictions.

In order to strengthen their services, MAGELLAN partners have also decided to join forces with GINESTIE PALEY-VINCENT & Partners, to create a new entity GINESTIE MAGELLAN PALEY-VINCENT, completely independent, legally and financially, from Mazars.

Philippe Castagnac, Managing Director of MAZARS in France said: "It is important, as much for MAZARS as for MAGELLAN, that each entity can carry out its services in total independence and with the utmost transparency with regards to the markets. For this reason we have chosen to exercise our services separately from each other, and thus without limitations. Furthermore, we are very pleased about the move with GINESTIE PALEY-VINCENT and believe it favours the development of a law firm of the highest quality".


Paris La Défense, February 2005