Professional services firms have taken millions of dollars of investment from private equity houses over the past year in a race to stay ahead of the competition. However, Forvis Mazars, formed in 2024 when France-founded Mazars joined forces with US-based firm Forvis, isn’t buying into the trend.

“We are not picking up the phone to external investors. Is it something I have thought about? Of course,” says James Gilbey, who became the UK chief executive of Forvis Mazars in February 2025, leading a team of more than 3,300 people across 14 offices.