Pieris Markou: "We are expanding and focusing on strategic growth offerings"

Starting from humble beginnings, Deloitte Cyprus has grown into a market leader and is now celebrating 65 years of operations in the country.

Here, CEO Pieris Markou looks back at the firm’s history, the values underpinning its success and the impact on shaping Cyprus’ business culture.

Reflecting on 65 years of Deloitte Cyprus, what do you consider as the most pivotal moments that have shaped the firm into what it is today?

Founded over 175 years ago, Deloitte has since stayed current with developments and true to its purpose to make an impact that matters in business and society. In 2002, the global organisation grew with new mergers, with the green dot introduced soon after – a symbol that still captures the firm’s essence for connection and collaboration. In the same year, Chrysanthou & Christoforou, established in Cyprus in 1958, integrated with Deloitte, propelling our founding company onto a new growth path and empowering us to become one of the largest and most successful professional services providers in the country. Another significant milestone for Deloitte Cyprus was in 2020 when, along with another 14 countries of Deloitte Middle East, we joined Deloitte North South Europe, enhancing our international presence even further. As part of our wider network, we have access to a broad variety of skills and know-how from thousands of colleagues around the world to better serve our clients, as well as providing more opportunities for our people. This year marks our firm’s 65 years of continuous and successful presence on the island, being recognised for the integrity of our people and the quality of our services. I’m extremely proud of the leading position we hold in the market to this day. We have continuously sustained the market’s trust and exceeded expectations with innovative solutions throughout our history.

What core values and principles have remained constant for Deloitte Cyprus throughout its 65-year journey?

Our values define our behaviours as individuals and as an organisation, and they lead the way in the realisation of our vision to help clients transform ideas into actions with impact, and at the same time to support our clients, our people and our society. Understanding the power of connection, collaboration and innovation is the legacy that has led Deloitte to grow into a global organisation that helps solve some of the greatest challenges faced by businesses and our local communities. These founding beliefs have driven our local growth as well, and keep us firmly focused on the future as we continuously adapt to the needs of the market and our society. Even in challenging times, our people have proven time and time again that they can be agile while always upholding the principles that we have sustained since our establishment 65 years ago – ethos, integrity, professionalism and quality.

Building on the above, the firm has weathered various economic downturns and crises. Are there any strategies that have proven instrumental in maintaining stability during these times?

Deloitte has a long history of helping clients, communities, and our people thrive during times of adversity. In the past years, we have navigated through unprecedented and constant crises that have pushed us to adapt and transform. Resilience is an essential part of our DNA, so our ability to remain agile helps us turn challenges into opportunities and this is what sets us apart. Our diverse portfolio of business offerings, technological know-how and future-focused thinking provide the necessary pillars that allow us to pivot and reshape, focus on client needs, step up to support our communities and prioritise our people.

How have you and Deloitte helped shape economic policies or fostered thought-leadership within the business community, influencing positive changes or advancements in the local economy?

Most of our partners and senior personnel have a direct involvement in various professional bodies and business associations, which have as their key objective to interact with the Government, parliament and other stakeholders to share knowledge and expertise for the good of the country and society. Personally, I have been actively involved in the activities of the Institute of Certified Public Accountants of Cyprus (ICPAC) since 1996, serving the Institute in various roles – from member and president of the VAT and the Tax committees, all the way through to member of the Council and President of ICPAC. I am also a member of the governing board of the Nicosia Chamber of Commerce and Industry, where I have the opportunity to interact with leaders from across sectors, ensuring that the interests of the business community are well represented and properly addressed in the marketplace. Our involvement in various bodies allows us to be close to leaders who drive the economy and gives us the chance to work together for the overall good of our country, identify opportunities for improvement and offer our expertise and guidance to both the public and the private sector. We will continue to undertake initiatives that have proven to yield benefits to our country and economy. Through our engagement and support, we reinforce the professionalism of businesses, whilst advocating for legislative and institutional reforms, proposing changes and submitting proposals. We also participate in business missions, conferences and other international activities promoting the benefits of Cyprus abroad.

Looking ahead, what are the key goals and strategies of Deloitte as it enters its next phase, and what can clients and stakeholders anticipate from the firm in the coming years?

Looking to the future, we are expanding and focusing on strategic growth offerings that speak to the emerging needs of the markets, without neglecting the transformation of more traditional services. Deloitte will continue to serve clients through our multidisciplinary model, connecting expertise across services and sectors to deliver innovative solutions. We are focusing further on AI, cyber, cloud, and sustainability and climate solutions to help businesses thrive in the new realities of work. At Deloitte, we also believe we have a responsibility to lead the way in dealing with the increasingly complex challenges that society faces today to create a better future. We are committed to driving societal change and you will definitely see more initiatives as we continue to work with organisations and associations that help build a sustainable future for all. Finally, I need to stress the importance of our people. We have come a long way in transforming our organisational culture, adapting to new ways of working, and remaining committed to their wellbeing, as we place our people at the centre of everything we do.

(Photo by TASPHO)

This interview first appeared in the December edition of GOLD magazine. Click here to view it.