- The industry leader’s decision to expand into Cyprus has increased the island’s potential to attract investment and investment funds
PwC Cyprus has welcomed the decision of the leading global group MUFG Investor Services to establish a European base in our country, to provide administration services in the investment fund industry, as a very positive development for our economy and in particular for the fund industry.
Moreover, development has made our country a safe destination for large collective investments. It also reaffirms that Cyprus has the necessary infrastructure, as well as the environment – but also the quality of life – to host the headquarters of other major companies and international organisations.
In statements, the CEO and Chairman of PwC Cyprus, Mr. Philippos Soseilos, said: “PwC Cyprus, which provides management and fund administration services for investment funds to MUFG Investor Services, actively contributes to the effort to promote our country as a center for professional services in the wider region, but also as a center for investment funds”. He stressed that this strategic decision will have benefits at all levels. “Developments like these open up new jobs for specialist staff, boosting the economy and improving the services provided.” Mr. Soseilos expressed his optimism that this news will inspire other world leaders in the sector to trust Cyprus and invest in establishing their headquarters on our island.
Mr. Andreas Yiasemides, PwC Cyprus Partner, Head of Fund Services, said the decision of a global industry leader like MUFG Investor Services to set up a base in Cyprus was an important step in the direction of creating of a vast ecosystem of investment funds on the island. “The expansion of MUFG Investor Services’ operations on the island should have a catalytic effect on efforts to attract investment from the highly promising Asian market, as many investment funds are interested in investing in the European market,” he added. he said.
For his part, the CEO of MUFG Investor Services, Mr John Sergides, said he was delighted that his company had opened a European office to provide services in Cyprus, while describing the island as a “centre for financial services in rapid growth but also a center of business”. for the whole region”. He added that “the Cyprus office will be the second largest European center for MUFG Investor Services and will help the company to improve the services it offers to its clients around the world”.