Calling the new Cyprus office “an inflection point for our company” that signifies a new era of growth, progress and expansion, MUFG Investor Services CEO John Sergides formally opened the space on September 13 in Limassol, Cyprus.
More than 200 staff and dignitaries—including H.E. Mr. Nikos Christodoulides, President of the Republic of Cyprus, and a host of government officials and business executives—attended the balmy evening roof-top ceremony that was co-hosted by Yannis Matsis, Head of the Cyprus office.
“What we are building in Cyprus is serving as a blueprint for our expansion into other strategic locations and enabling us to continue delivering the highest quality service to our clients,” John said.
The new office reflects the significance of the region to Investor Services’ global strategy and the growing role Cyprus plays in the international business community. The ribbon-cutting ceremony featured comments from John and Yannis, and a special address from President Christodoulides.
“As we strive to establish the conditions for a resilient and thriving economy, guided by a long-term vision and a commitment to actively support investors in our country, I’m optimistic and confident in what we can achieve,” Mr. Christodoulides said. “Especially when a global leader like MUFG Investor Services recognizes the immense potential of Cyprus. With invaluable cooperation of the private sector, we are setting the stage for a flourishing and rapidly growing financial services sector.”
Yannis, who is responsible for our performance in the Cypriot market and for business expansion in Europe and the Middle East, noted that when the office is fully staffed, “this company will be contributing €40 million to the country’s GDP annually.” In addition, we are “working closely with universities, focusing on education and job creation in financial services and information technology” he said.
Launched in 2022, the Cyprus operational center has grown rapidly to more than 160 colleagues—it’s the firm’s second largest European hub after Dublin—and has enhanced our ability to support clients globally. The teams represented in the office include Business Process Outsourcing, Compliance, Corporate Finance, Fund Administration, FX Services, Human Resources, Information Technology, Legal, Operations, Planning, Project Management, Transfer Agency, and Fund Financing.
The five-story, Class A energy-efficient building reinforces our strong Environmental, Social and Governance (ESG) culture. It features design elements such as thermal shades to protect windows from solar radiation and reduce air conditioning costs, as well as rooftop photovoltaic panels to provide power and decrease traditional energy usage.
The building’s interior reflects our Japanese heritage, ranging from deep brown, burnt wood surfaces, and earthy hues for furnishings to a Japanese garden featuring a large Bonsai tree. The office also features collaboration areas, booths for meetings or private phone calls and an array of casual and formal meeting rooms with interactive whiteboards and video conferencing. In addition, Cyprus colleagues enjoy a chef-managed, full-service cafeteria and an interactive entertainment room.
“The building is incredible,” John said, noting that the Cyprus office design and amenities will strongly enhance the ability of teams to “collaborate and get things done. At the same time, (the office) provides a home and comfortable environment for the staff, who sometimes work long hours. Making all those things possible doesn’t come easy.”
As John praised the new office and its importance to the region, he also noted that our colleagues globally remain the most important factor in our long-term success, identifying the core characteristics they share.
“Integrity, work ethic and intelligence,” he said. “It is the intersection of these qualities that allows us to be the best.”