Mazars Group has hired an experienced European regulator to
strengthen its consultancy to capital markets participants. Fabrice
Demarigny, the former secretary general of the Committee of
European Securities Regulators (CESR), heads the firm’s capital
markets advisory service.

Demarigny arrives at a time of heightened demand for capital
markets consulting in Europe as corporations come to grips with a
new regulatory framework. Mazars chairman Patrice de Cambourg
explained the new position is a response to the growing demand of
clients. “The corporate world wants to have a better understanding
of the new regulatory framework in order to take advantage of the
new European environment,” he said.

Fresh challenge

Demarigny told IAB he joined Mazars for a fresh challenge
after spending the majority of his career as a regulator.

“Because of my past, working for the French supervisor and then the
last six years for the Committee of European Securities Regulators
that has drafted most of the EU directives applicable to listed
companies… I was keen, after legal and regulatory work, to move to
the real life,” the 43-year-old said.

“I want to help market players to better apply these [new] rules,
not as a painful exercise of compliance but rather to use the
opportunities that the [EU] directives create by giving more free
access to capital and services across the union. I know the legal
aspects of that and to help all categories of market players, be it
intermediaries, corporates going public or already listed to
benefit from these new freedoms.”

Demarigny brings years of regulatory experience to the firm. He
spent six years at the Commission des Operations de Bourse,
France’s former securities market regulator, before becoming the
secretary general of the Forum of European Securities Commissions
in 1997. In 2002, he was appointed the secretary general of
CESR.

Demarigny is a law and economics graduate and has a doctorate in
political sciences from Sciences Po in Paris. Although based at the
offices of Mazars’ legal partner Marccus Partners, he will be
directly involved in serving Mazars’ clients.

He said his role will focus more on the legal aspects and how
companies can take advantage of the various directives that are
designed to create a single European market. He told IAB
that capital markets consulting is an area of growth for the firm
and there are plans to expand the service line further. Demarigny
predicts demand for this type of advisory work will escalate as the
EU continues to prove an attractive marketplace.

Arvind Hickman