The industry leader’s decision to expand to Cyprus has elevated the island’s potential to attract investments and investment funds
PwC Cyprus has welcomed leading global group MUFG Investor Services’ decision to set up a European base in our country, to provide administration services in the investment funds sector, as a very positive development, for our economy and particularly the funds industry.
Furthermore, the development has highlighted our country as a safe destination for large collective investments. It also reaffirms that Cyprus has the necessary infrastructure in place, along with the right environment – but also quality of life – to host the headquarters of other leading international firms and organisations.
In statements, PwC Cyprus CEO & Chairman Mr Philippos Soseilos said, “PwC Cyprus, which provides advisory and support services to MUFG Investor Services, is an active contributor to the effort to promote our country as a professional services hub in the broader region, but also as an investment funds centre”. He stressed that this strategic move will have benefits across the board. “Developments like these open up new jobs for specialised staff, in turn boosting the economy and upgrading the services that are provided.” Mr Soseilos said he is optimistic that this news will prompt other global leaders of the sector to trust Cyprus and invest in establishing their headquarters on our island.
PwC Cyprus Partner, In Charge of Fund Services, Mr Andreas Yiasemides, said the decision by a global industry leader like MUFG Investor Services to create a base in Cyprus was a significant step in the direction of creating a wide-ranging investment fund ecosystem on the island. “The expansion of MUFG Investor Services’ operations to the island is expected to have a catalytic impact on the effort to attract investments from the very promising Asian market, as there are plenty of investment funds that are interested in investing in the European market,” he said.
On his part, the CEO of MUFG Investor Services, Mr John Sergides, said he was pleased that his company opened a European office to provide services in Cyprus, while he described the island as a “rapidly growing financial services centre but also a business hub for the broader region”. He added that, “the Cyprus office will be the second biggest European centre of MUFG Investor Services and will help the company enhance the services it offers its clients around the world”.
