Deloitte Cyprus on Tuesday announced the appointment of two new partners, effective from June 1, 2025, marking an expansion of its leadership team.

According to the announcement, Nicholas Theofilou has been promoted to Partner in the Strategy & Transactions team at Deloitte Limited, while Maria Michaelides has been appointed as Partner at Deloitte Actuarial Services Limited.

The firm stated that both leaders bring outstanding expertise in their respective fields, responding to key market developments, challenges, and client needs.

“Becoming a partner is a significant career milestone, earned through merit and by recognising the dedication and zeal of our people,” said Pieris Markou, CEO of Deloitte Cyprus.

“A strong leadership team is imperative to achieving our goals of offering services that continuously adapt to market and client needs, tackling compound client challenges, developing our talent, and contributing to our community,” he added.

“Exceptional leadership, integrity, and ethos, are values that characterise Nicholas and Maria, and they have consistently contributed to our growth, both locally and across the wider Deloitte network,” he continued.

“They represent the multi-disciplinary and cross-sector expertise that describes Deloitte, meeting current demand and anticipating future needs for the positive development of our market,” Markou stated.

He also said that “we are very proud of Nicholas and Maria as our new partners, and are certain that they will make a significant impact for our clients, our people, and society”.

Nicholas Theofilou, now Partner in Strategy & Transactions, brings over 14 years of experience serving clients across various industries in Cyprus and internationally.

He specialises in mergers and acquisitions, financial due diligence projects, valuations and modelling, corporate finance advisory, debt and equity raising, business plans, and feasibility studies.

The company noted that Theofilou has led and successfully executed some of the firm’s most significant projects and transactions, both locally and across Deloitte Middle East and Deloitte North South Europe.

He is also a member of the firmwide leadership team for the Life Sciences and Health Care industry.

He holds a BA (ECON) in Accounting and Finance from the University of Manchester and an MSc in Financial Services from the Cyprus International Institute of Management.

Additionally, Theofilou is a Qualified Chartered Accountant (FCA) and a fellow of the Institute of Chartered Accountants in England and Wales (ICAEW).

The company stated that he actively promotes a collaborative mindset, encourages cross-border networking, and fosters a culture of teamwork, knowledge sharing, and continuous professional development.

Maria Michaelides, newly appointed Partner in Financial Risk, is an actuary with 15 years of experience in the insurance industry, across both consulting and corporate roles.

She currently serves as the Deloitte Middle East Actuarial Lead for IFRS 17, having played a key role in establishing Deloitte as the market leader in this area for the region.

Michaelides also contributes to regional and global working groups addressing major insurance sector topics.

She holds statutory roles as Actuarial Function Holder and Risk Management Function Holder for multiple European insurers.

Her expertise covers Solvency II, financial and capital planning, actuarial valuations, and insurance product design.

Michaelides is also leading Deloitte’s actuarial initiatives in Saudi Arabia as the country transitions to a risk-based capital regime in its insurance sector.

She holds a BSc in Actuarial Science and an MSc in Management and Regulation of Risk from the London School of Economics.

Finally, the company mentioned that Michaelides is a Fellow of the Institute and Faculty of Actuaries in the United Kingdom.