The CFO Management Conference is the largest gathering of chief financial executives and directors of accounting in Cyprus. Its purpose is to continuously update CFOs, accounting managers, and executives / accountants of Cypriot businesses on developments in their field, making it a forum for discussion of issues of concern to the financial management. The conference highlights the key issues of economic management and analyzes the financial environment in which businesses operate.
For Cypriot companies, the economic environment in recent years has brought growth and expansion to a halt. The crisis has turned the spotlight on CFOs and raised their profile and their importance within organisations. After years of consolidation, cost-cutting and rationalisation, they now need to reset their companies' ambitions from survival to becoming sustainable.
Cyprus' recent legislation governing insolvency and foreclosures aims to pave the way to debt restructuring and to increase the liquidity and sustainability of Cypriot firms and banks. These new developments also mean that Cyprus is on track with the bailout agreement; however, there are grey areas in the new legislation that creates ambiguity regarding what exactly general managers and CFOs must understand in these new laws in order to help their business move forward. Nowadays, the CFO has the most important role to play in turning around a troubled corporation. There is probably no other time when the role of the CFO is more critical, more demanding and, at the same time, more professionally rewarding than in a turnaround situation
The 11th CFO Management Forum
The 11th CFO Management Forum will address one of the most important issues (possibly THE issue) affecting the Cyprus business world today: corporate restructuring. Extremely high leverage and debt levels, in conjunction with years of poor management and inefficiency, have resulted in an urgent need for corporate restructuring. Furthermore, the Forum will examine what exactly the new insolvency and foreclosure legislation entails and how it will affect banks' non-performing loans.
Friday, 26 June 2015, Hilton Park Hotel, Nicosia
Transaction Advisory Services, EY, Cyprus
Stelios is an Executive Director and leads the Transaction Advisory Services in Cyprus. Stelios has been involved in a range of financial advisory services to various companies and institutions. He has helped in raising equity and finance for companies and individual projects, handled merger and acquisition transactions, performed business valuations, prepared business plans and feasibility studies. He has also managed strategic opportunities and involved in IPOs, led management buyouts (MBOs), provided strategic advice to clients and identified and secured new deals.
Partner, Advisory Services,
Performance Improvement/SCO South Cluster Head, EY Greece
Athanasios Mavros is an economist with a master’s degree in Industrial engineering from the NYU Polytechnic school of Engineering. He has 25 years of experience in Supply Chain & Operations and he has supervised and implemented important projects in Greece, Cyprus, Romania, Bulgaria, FYROM, Albania, Turkey, Lithuania and Ukraine. He was the Managing Director of Planning SA and a Senior Partner, and he has served as President of SESMA/Hellenic Association of Management Consulting Firms and ELESMA. Today, he is a Partner at EY in Supply Chain & Operations in Southeast Europe. He is also the Chairman of Efficiency Consumer Response (ECR) Cyprus.
Leader of Advisory Services Cyprus, EY Cyprus
Charalambos Constantinou leads EY’s Advisory Services practice in Cyprus, specializing in Financial Services Risk Management, performance improvement and corporate valuations. He holds a PhD in Finance from the University of Cambridge, an MSc in Economics and Finance from the University of Warwick and a BSc in Economics and Econometrics from the University of Cyprus. He has led numerous restructuring, re-organisation, due diligences and business valuation projects.
Chief Financial Officer,
TFI Markets, Cyprus
Melina Spyrou has been the Chief Financial Officer of TFI Markets Ltd since 2008. She is a member of the Institute of Chartered Accountants in England and Wales (ICAEW) and the Institute of Certified Public Accountants of Cyprus (ICPAC). She is also a member and the Secretary of the Committee of Chief Financial Officers of ICPAC. Prior to joining TFI Markets Ltd she had worked as an auditor of financial services clients with PwC Cyprus since 2002.
Corporate Finance, EY UK
Maggie Mills, Partner, Corporate Finance, EY UK, is a Restructuring Partner based in London, with extensive cross border experience covering Europe, US and the Far East particularly in financial services. During the recent financial crisis, she acted as advisor to the Bank of England and the Tripartite on Northern Rock, Bradford & Bingley, the Icelandic Banks and many other institutions. She has also advised many companies, their management and directors, lenders and other creditors groups on recovery and viability of businesses. In particular she has extensive experience of restructuring and turnaround sales involving complex groups and financing structures.
Finance & Exports Director,
Sokratis Paliokrassas is based in Athens and is the Finance & Exports Director of Olympic Brewery. He was involved in the recent merge between Olympic Brewery with Mythos Brewery (part of the Carlsberg Group) where he has been Finance & Exports Director since 2012. Prior to joining Mythos Brewery, he was the Finance & Administration Director of Bacardi Hellas, having started his career at Unilever, where he held various positions in Finance in Greece & the Netherlands. He is a member of the General Council of the Federation of Greek Industries (SEV).
General Insurance of Cyprus, Cyprus
Evros Kyriakides started his career in insurance in 1999. He is a member of the Insurance Institute of Cyprus and sits on various committees of the Insurance Association of Cyprus. He holds a degree (BA Accounting, Economics and Finance) from the University of Essex, a postgraduate degree (Msc Insurance and Risk Management) from the Cass Business School and an MBA from the University of Leicester, UK.
Corporate Finance, EY UK
Jon is a Partner based in London and leads EY’s Working Capital team in EMEIA. From a background in EY Restructuring Practice advising stressed and distressed companies, Jon has successfully transferred these techniques to enhance business performance in a wider field. Today his clients predominantly include both FTSE 100 and Private Equity Houses where he focuses on balance sheet efficiency and cash release through sustainable working capital management. Jon’s recent clients include KKR, Blackstone, Colgate-Palmolive, General Electric, WPP, Vodafone, Diageo and SABMiller.
Dr. K. Chrysostomides & Co LLC, Cyprus
George N. Mountis has extensive experience in various fields of commercial and corporate litigation. He is also highly experienced in Arbitration law and is a member of the Chartered Institute of Arbitrators MCiArb. He is also a CEDR Accredited Mediator. He holds degrees from the University of Kent, the London School of Economics and King’s College London.
Corporate Management, Bank of Cyprus, Cyprus
Panicos Nicolaou joined Bank of Cyprus in 2001 and has served in various positions related to Corporate and Credit Sanctioning including Corporate Manager and Head of Project Finance and Loan syndication. Since April 2014, he has managed the Corporate delinquent portofolio under the Restructurings and Recoveries Division.
Global Business Solutions & Services, Logicom Solutions, Cyprus
Louis Eliades is the Director of the Business Solutions & Services Business Unit, leading the strategic planning and services delivery of Business Integrated Solutions to key industries such as banking & finance, government, service providers, corporate services and other services sectors. He has been a consultant on numerous high-visibility projects, such as the e-Government Gateway, e-University, Internet Banking, Service Provider Customer Self-Care and others.
Freelance Financial Advisor
Phivos Stasopoulos is a freelance financial advisor with extensive experience in the accounting and banking industries. After graduating from the University of Manchester with a B.A. In Accounting, Finance and Econometrics, he joined KPMG in the UK, where he qualified as a Chartered Accountant. He returned to Cyprus to join Bank of Cyprus as Head of Debt Recovery. After serving in various posts, he became General Manager as Head of Corporate Banking. He left the Bank at the end of 2013 and has since been advising reputable clients operating in various sectors of the economy. He is a Fellow member of the Institute of Chartered Accountants in England and Wales (ICAEW).
Manager Factoring Services,
Bank of Cyprus Public Company Ltd, Cyprus
Yiannos Nicolaides was employed by the Bank of Cyprus in 1991. One year later joined the team to set up the Factoring Services of the Bank and in 1995 the team to set up ABC Factors in Greece. Gaining extensive experience on Factoring over the years, in 2007 was appointed Manager of the Factoring Services of Bank of Cyprus, position he holds until today.
Coller Institute of Private equity, London Business School, UK
Eli Talmor is Professor at London Business School and founder of its Coller Institute of Private Equity. He was previously a finance professor at the University of California (UCLA and Irvine) and the Wharton School (University of Pennsylvania). Professor Talmor is the co-author of International Private Equity, broadly considered to be the reference book on the private equity industry. He is frequently invited to deliver keynote speeches to business executives worldwide. In recent years he has been asked by the UK Parliament to provide a leading testimony at its high-profile hearings on private equity and to advise the UK Prime Minister’s Office. Professor Talmor served on the Board of Governors of London Business School and the advisory board of the African Venture Capital Association. Business-wise, he practices private equity with multiple exits; notably he co-founded SunRay Renewable Energy, which was acquired in 2010 in one of Europe’s largest exits of that year. Professor Talmor holds a Ph.D. from the University of North Carolina at Chapel Hill and B.Sc. (Cum Laude) from the Technion – Israel Institute of Technology.
EY Cyprus, a firm with a history of over 75 years in the local market, is a leading professional services firm, providing services to clients in a wide spectrum of industries. At EY, we are committed to building a better working world – our comparative advantage begins with our global network; our vast knowledge pool provides a constant surplus of leading practices and fresh thinking that we tailor to meet the ambitions of each individual client.
Bank of Cyprus is the leading banking and financial services group in Cyprus. The Group provides a wide range of financial products and services, including retail and commercial banking, fund management and private banking. Today, the Group is a stronger, more domestically focused institution, capable of supporting the recovery of the Cypriot economy. Bank of Cyprus is now one of the better-capitalised banks in Europe, following a €1 billion share capital increase in August 2014, which ensured that it subsequently passed the European Central Bank's Comprehensive Assessment of the financial health of 130 European banks.
Cablenet is the only independent alternative telecommunications provider in Cyprus offering broadband, fixed telephony and television services through cable connection to both retail and corporate markets.
Within cities, Cablenet operates a wholly-owned pioneering Hybrid Fiber Coaxial cable, as well as xDSL and Fiber networks. Abroad, Cablenet has secured 22.5 Gpbs of international capacity on various cable systems that serve Cyprus and has built a resilient network with PoPs in EU countries.
G.A.P. Vassilopoulos Group has been established in the business community of Cyprus since 1964. The Group is involved in providing an extensive range of services representing renowned International Organizations which are leaders in their business field. The Group was listed on the Cyprus Stock Exchange in 2001 and today has a presence in 6 countries (Cyprus, UK, Israel, Holland, Luxembourg and Belgium), employing more than 1,000 personnel and operating through 2,000 own offices and or agents. Website www.gapgroup.com
Logicom Solutions is a leading provider of integrated IT Solutions in Cyprus and one of the major IT Solutions providers in Greece, Malta and the UAE. Thanks to its quality services and technology solutions and specialized personnel, Logicom Solutions adds real value to organisations and helps them achieve their business goals. The company is certified and has long-term strategic partnerships with leading international Technology and Consulting Services vendors, such as Accenture, Cisco, Microsoft, CA, HP, IBM, Oracle, SAP, Symantec and NetApp.
TFI Markets' services are mainly focused on corporate clients with the objective of reducing the cost of international payments and transfers and the protection of profit margins from the volatility of foreign exchange markets. Imports, exports, prepayments, repayments, payroll, and purchases or sales of assets/liabilities are samples of corporate payments handled by TFI for its clients. TFI is licensed by the Central Bank of Cyprus and the CySEC.
General Insurance of Cyprus was founded in 1951 and has since played a leading role in the development of the insurance industry. Throughout the years, it has been recognized as one of the biggest and most reliable insurers in Cyprus. The firm stands out for its credibility and reliability as well as for the professionalism of its experienced and well-trained staff. The Company offers a comprehensive range of insurance products and consistently maintains high service standards both at the point of sale and in claims handling. It is socially responsible, with initiatives to support blood donation and road safety. Website: www.gic.com.cy, Call Centre: 8000.87.87
The Forum is addressed to:
IMH is the leading business knowledge and information transfer organisation in the Eastern Mediterranean region. Its services include conferences and commercial exhibition organisation, business media publishing and human resources consulting and training. Every year, IMH organises over 60 conferences on a variety of business issues in Cyprus, Greece, the UK, the Czech Republic and Russia. IMH also organises six commercial exhibitions, dozens of educational seminars and workshops and three business awards ceremonies. The IMH Business Media department publishes two monthly magazines: IN Business, the leading business magazine in Cyprus, is read by thousands of executives, managers and entrepreneurs. Gold is a monthly English-language business magazine addressed to the international professional services, investment and finance community. IMH operates the INBusinessNews portal (www.inbusinessnews.com), and the English-language GoldNews portal (www.goldnews.com.cy) and distributes the IN Business Daily Newsletter and the GoldNews Daily Newsletter. ΙMH has a dedicated department that responds to Calls for Tender from the local public sector, the European Union and other international organisations. IMH services are addressed to a specific audience: Entrepreneurs, managers and executives working in all sectors of economic and business activity. This premium audience of white collar decision-makers participates in IMH conferences, exhibitions and awards and consumes its media. Through its activities IMH gives businesses the opportunity to grow, network and discover new opportunities. www.imhbusiness.com
ΙΝ Βusiness magazine has a monthly readership of more than 50,000. It is the only monthly business magazine in the Cyprus market that provides an overall approach to all segments of the economy, ranging from retail to services, as well as reporting on new deals, presenting new faces and, generally, all that is going on in the domestic business realm. IN Business has been a pioneer in local business journalism, thanks to its in-depth analysis and its research backed by never-before published facts and figures.
Gold magazine addresses the international and local English-speaking business community in Cyprus, international and local high net worth investors and the professionals who provide services for them. A key objective for Gold is to promote Cyprus as an international business and investment centre and, by extension, to promote the professionals offering services in this sector. The magazine is written for a global audience of senior business, political and financial decision-makers.
Hilton Park Hotel, Nicosia