In a rapidly evolving global financial landscape, the role of financial institutions and fintech companies is more crucial than ever. One such company making waves in the industry is Admiral Markets Cyprus Ltd, a subsidiary of the Admirals Group AS, a prominent fintech group with a global presence.
The Cyprus Mail sat down with Andreas Ioannou, the Executive Director of Admiral Markets Cyprus Ltd and the COO of the Admirals Group AS, to gain insights into his role and the company’s contributions to the financial services sector in Cyprus.
Ioannou’s background in international law and corporate governance, combined with his expertise in sports law, provides a unique perspective on the challenges and opportunities in the industry.
In this exclusive interview, he shares his thoughts on financial regulation, compliance, and the intersections between sports and finance.
Additionally, he offers valuable advice for aspiring professionals aiming to excel in the financial services and compliance field.
Finally, he provides a glimpse into Admirals’ plans for local initiatives, emphasising their commitment to making a positive social impact in Cyprus.
Could you share some insights into your role as the Executive Director at Admiral Markets Cyprus Ltd and your responsibilities as the COO of the Admirals Group AS?
Being part of a global fintech hub of 22 years of history, that is growing by every day is a challenging yet rewarding job. The main part of my role as COO of the Admirals Group AS and the Executive Director of Admiral Markets Cyprus Ltd, is guiding the organisation’s processes towards success and sustainability, through a holistic approach in terms of strategy, culture, compliance and performance.
Strategy development and execution is a key part of my job. I have responsibility for overseeing the company’s operations, and employee productivity which means having and maintaining an inclusive work culture where professionals can grow with the company.
As part of my role, I also oversee compliance and legal amongst other departments. Finally, performance and retention are pillars that I consider very important and monitor closely to continue to drive Admiral’s competitiveness and strategic objectives.
How has your background in international law and corporate governance shaped your approach to financial regulation and compliance in your current position?
Having knowledge of these two factors can be an asset as financial regulation and compliance are essential to my work.
Throughout my career, I have witnessed that, having experience and a thorough understanding of international law and corporate governance can immediately help you adjust and stay aligned with current financial circumstances.
It can improve your ability to respond to critical situations, and it can point you in the right direction to reap the rewards of your hard work.
In your view, what are some of the key challenges and opportunities in the financial services sector in Cyprus, particularly in terms of compliance and EU legislation?
Cyprus’ financial sector is currently a broad investment area in development. Opportunities arise from the quality, efficiency and cost-competitive landscape that Cyprus’ financial sector offers.
The ecosystem is fostering the development and growth of fintech companies, as it offers smart mechanisms to support this blooming. However, the financial sector in Cyprus is challenged by global dynamics.
The EU is facing drastic changes amid financial and geographical transformations, as well as regulatory updates, with these having a potential impact on current legislation.
Cyprus is known as a growing hub for financial services. How does Admiral Markets Cyprus contribute to this growth, and what advantages does the Cyprus market offer for your operations?
Admirals delivers high-quality services to partners, end clients and all stakeholders, making it a trusted and reputable company to engage with. We bring knowledge and good practice to the forefront with the aim of revolutionising the fintech space.
Cyprus’ financial market landscape is cultivating a supporting climate for financial services firms to establish themselves. The national AML law provides a familiar ground for companies to operate, while the legal and regulatory regime is considered among the most supportive in Europe. This is a common ground for companies like Admirals and regulators to work together for the sustainable growth and success of both parties.
Given your expertise in sports law, how this has contributed to your professional growth, and do you see any intersections between the sports and financial sectors?
There are a series of transferable qualities I had harboured from my early days in the sports industry that I find adaptable and applicable in the world of finance. Corporate governance, which is essential for the successful operation of sports organisations, was a major part of my work when I was involved with sports clubs and federations.
The same factor is considered one of the pillars of financial regulatory operational environments. It works the same way in both industries and has a huge impact on success. I have also found that being involved in sports and sports governance, as well as in financial regulation, puts you in a high-pressure environment.
You have to be able to respond to many demands at the same time, think on your feet, and be decisive. I also enjoy the leadership aspects and learned a lot from sport which has helped me to apply this to various business situations. The qualities of leadership, engagement, collaboration, and people management are vital to both environments.
As a leader with a strong legal and business background, what advice would you give to aspiring professionals looking to excel in the financial services and compliance field?
Thriving in the financial services and compliance field can be a matter of patience and determination. Although it’s a highly regulated and competitive industry, having the right combination of training, skills and exposure opportunities, could drive aspiring professionals to build a challenging and fulfilling career. As the world of finance runs at speed, constantly look further, explore deeper and never sit back.
The company has been in Cyprus for a few years now. What are your plans in terms of any local initiatives?
We wish to continue investing in our presence in Cyprus. Apart from Admirals’ corporate actions, we are engaging with local initiatives focusing on education, sports, charity and more.
Admirals aims at making a significant and positive social impact, while strengthening its relationship with local stakeholders.
