Chinese Auditing Giant Arrives in Chile with Local Partners and Challenges the “Big Four” |  Financial newspaper

At 7 a.m. sharp this Wednesday morning, the integration agreement between SW (ShineWing), one of China’s largest auditing and consulting firms, and century-old Chilean law firm Eluchans Abogados, as well as local auditing and consulting firm BLTAto integrate them into your global network.

After a meeting that took place videoconference between Santiago, Beijing, Hong Kong, Berlin and Sydney, its protagonists in Chile have indicated to DF the details of the agreement which will materialize on July 1 and with which they seek to initiate the landing of the giant in the regiontaking advantage of a market that receives more and more investment from this country, particularly in the field of infrastructure and energy.

After the formalization of the agreement, At the same time, they will seek partners in other countries of the continent. with which they can have synergies and thus serve Asian companies arriving in other jurisdictions in the region, or support local companies and SMEs which are or seek to enter the Asian market.

“The Chinese network aspires to become, in the medium term, the leader in legal, auditing and consulting services in the country, at the same time as it has defined Chile as its regional hub and key market to project its incursion. in Latin America. “

Ricardo Ihnen, partner Eluchans Avocats.

“We are confident that business in Asia-Pacific will continue to deepen, knowing that the region is, and will be for a long time, the engine of the global economy, creating jobs and opportunities.”

Mauricio Benitez, partner of BLTA.

For local network members, the fact that SW chose Chile as the entry point to the region is “a powerful sign of confidence in our country,” assured the companion of Eluchans, Ricardo Ihnen, which also underlined the aspiration to become in the medium term one of the most important legal services, auditing and consulting firms in the territory. And he added that they had also “defined Chile as their regional hub and key market to project their foray into Latin America.”

They also reiterated their confidence that business in Asia-Pacific will continue to deepen,”understand that Asia is, and will be for a long time, the engine of the global economy, generating jobs and opportunities for large companies, SMEs and local entrepreneurs”underlined the partner BTLA, Mauricio Benitez.

Thus in Chile, the firm joins the forces of Eluchans (with seven partners and 30 lawyers) and BLTA, also of similar size (six partners and 20 professionals). As for who will lead the corporate governance of the Eluchans-BLTA alliance, it is not yet defined, in the meantime they have indicated that they will start operating independently but as part of the SW network.

When signing the agreement, none other than Zhang Ke, president of SW International; its executive director, Marco Carlei, among other international directors, in addition to the partners of Eluchans Abogados, Edmundo Eluchans, Tzu-Hsin Shen, Ricardo Ihnen, Carlos Ossandón, Andrés Correa, Guillermo Malatrassi and Fernando Lathrop, and of BLTA, Rodrigo and Mauricio Benítez, Rodrigo Cancino, Mario Guajardo, Marisol Gacitua and Angelo González.

Conversations

Making a little history, this integration began to take shape about two years ago, in the midst of a pandemic, but it was preceded by the proximity and the links that the two Chilean firms had with the Asian giant. On the one hand, Mauricio Benítez (ex-BDO) lived for a time in Shanghai, after taking charge of the opening of a BDO office and, on the other hand, in Eluchans, they knew the culture and the market due to the bonds established by their companion – already deceased – Héctor Novoa, which was then strengthened with the arrival of Tzu-Hsin Shen.

But it was Benítez who started the conversations with SW, which took off in 2021, when they also added Eluchans Abogados. They assure that they were not the only ones in the race to land in the country, but their expertise and confidence acquired during these years made the difference, key aspects in reaching an agreement with companies of this country.

Overall, the expectations and objectives of this alliance are quite ambitious, given the access to the various markets offered by being part of this integration, they assured.

the power of sw

ShineWind, in just over 20 years, it has positioned itself as one of the most important auditing and consulting firms in China, against the so-called Big Four (EY, Deloitte, KPMG and PwC) and fighting alongside corporate advisory firms in the industrial, financial and infrastructure sectors.
It is currently one of the 20 largest specialized firms in the world and the seventh of the Asian giant. It is present in Hong Kong, Singapore, Australia, Japan, Egypt, India, Germany and the United Kingdom, with more than 10,000 professionals, including 500 partners, more than 80 offices in 16 regions and 500 million dollars in annual sales. . .

In recent times, the Chinese firm has been very active. Indeed, last week, it added to its network a major legal consulting firm in Australia, where it now has nearly 40 partners and 300 professionals, with a turnover of 60 million dollars.


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