Grant Thornton Cyprus secures milestone investment from Grant Thornton UK

August 6 marks a pivotal milestone in Grant Thornton Cyprus’ long history, as it secures a milestone investment from Grant Thornton UK.

This strategic transaction opens up a new era of growth and opportunities for both the firm as well as for its people. Following this development, the partners of Grant Thornton Cyprus will also become partners in Grant Thornton UK.

This strategic investment allows Grant Thornton Cyprus to leverage the size of the UK firm but also its deep expertise. At the same time the UK firm will benefit from the skillful and expert workforce that Cyprus has to offer. Combining both member firms’ abilities in managing diverse projects along with their specialised expertise will provide a more comprehensive, enriched and versatile service portfolio for clients across all markets. At the same time, local teams will have access to professional development programs, training, and unique opportunities to advance their career. Both firms are determined to focus on growth opportunities both in Cyprus but also in the wider region.

This new development builds on the existing joint venture between the Cyprus, UK and Irish member of Grant Thornton International firms that was established in 2023, which initially focused only on advisory services. The current investment significantly expands this partnership across all firm's services, not just advisory, and is expected to set Grant Thornton Cyprus apart in the local market. It is a testament to GTUK’s confidence in the future of both the Cyprus economy and of the local member firm.

“This is a giant leap forward for our firm,” said Stavros Ioannou, CEO of Grant Thornton Cyprus. “Securing this investment from Grant Thornton UK gives our firm direct access to a truly enormous pool of resources and expertise and offers our people opportunities which, quite simply, could not be offered by any stand-alone Cyprus firm. It also means that our clients can benefit from direct access to world-leading expertise and experience in a multitude of services and sectors. We look forward to leveraging this strengthened bond to drive growth and deliver exceptional value to our clients.”

Commenting on this, Grant Thornton UK CEO, Malcolm Gomersall, stated: “This investment marks an exciting and transformative moment for our firms, and we are confident that it will bring about many opportunities to further enable us to support our clients’ growth plans.”