John Sergides: You can have the best skills in the world but, without the right mindset, your success will always be limited

Success for successful overseas Cypriot John Sergides is not singular – it is a collaborative effort, anchored in teams characterised by their strong character and relentless curiosity.

As CEO of MUFG Investor Services, he has helped steer the firm away from traditional outsourcing, driving its transition into one of the world’s largest fund administrators.

You’ve spent over two decades in the highly competitive financial services industry. What personal traits do you believe have been crucial to your success?

I look at this a little differently. Success isn’t just about personal traits – it’s about the teams and culture we’ve built over the years. People tend to focus on the end result but what they don’t see are the years of preparation, collaboration and shared effort that go into building a strong organisation. Skills and expertise matter but, ultimately, character makes the real difference. You can have the best skills in the world but, without the right mindset, your success will always be limited. At MUFG Investor Services, we’ve built a culture that values curiosity, collaboration and engagement. We attract people who are driven and eager to contribute ideas that shape the future of our firm. That’s one reason why our employee turnover rate is well below 10% – about a third of the industry average. I’m particularly proud of our diverse and inclusive culture, where every role is valued equally. My ability to lead effectively depends on my colleagues excelling in their roles. That sense of collective success has certainly been the foundation of my journey.

Since becoming CEO of MUFG Investor Services in 2019, you’ve helped the company grow into one of the largest fund administrators, with over US$1 trillion in assets under management. What was the most challenging decision you faced when stepping into that role and how did you approach it?

One of the biggest decisions was redefining our firm’s role in the alternatives space. Instead of operating as a traditional outsourcing firm, we made a deliberate shift to become a true “trusted partner” to our clients. That decision fundamentally changed how we engaged with the market and contributed to our rapid growth. We’ve expanded significantly by investing in technology, broadening our services and building deep, long-term client relationships. Alongside asset servicing and fund administration, we now support clients across the entire investment life cycle – offering fund financing, custody and FX overlay, among other solutions. What sets us apart is that we reached $1 trillion in assets under administration through organic growth, not acquisitions. We maintain nearly 100% client retention because we take the time to understand our clients’ unique needs and tailor solutions that help them grow. That level of trust and strategic partnership has been the foundation of our success. Looking ahead, we continue to evolve. We’re launching a new banking and payments platform, exploring institutional payments and expanding into corporate services like entity management, regulatory filings and governance support. Our goal is to anticipate where the market is headed and build solutions that position our clients – and our firm – for long-term success.

What do you consider as the most disruptive forces at play in the fund administration industry right now – regulatory changes, technological advancements or something else?

It’s not just one factor – it’s a convergence of forces reshaping the industry. At the core of it is the massive influx of new investors and capital into the alternatives market. Retail investors, traditional institutional investors and dry powder from asset managers are injecting trillions into alternatives. This has created immense pressure on asset managers to onboard clients quickly, manage vast amounts of data and enhance critical functions like fee calculations, reporting, distribution and marketing. The challenge is that most legacy systems weren’t built to handle this scale and complexity. Asset managers are now reengineering their operating models, leveraging cutting-edge technology to drive efficiency and compliance. At the same time, global regulators are tightening disclosure and transparency rules to protect investors, further pushing firms to adopt innovative solutions. At MUFG Investor Services, we are acutely focused on helping our clients navigate this evolving landscape. Our ability to combine advanced technology with a deep understanding of regulatory requirements gives us – and our clients – a significant competitive advantage.

In the past you’ve spoken about the pride you felt on seeing MUFG Investor Services establish a presence in Limassol. So, what does the country mean to you today?

I’m incredibly proud of what we’ve built in Cyprus. When we were evaluating locations, we chose Cyprus over other countries because of its strong education system, English-speaking workforce and common law legal framework. The decision has exceeded our expectations. In just three years, we’ve grown from 15 colleagues to nearly 300, most of whom are local talent. Our state-of-the-art operations centre in Limassol isn’t just a workplace – it’s a hub of collaboration and innovation. Beyond our firm’s success, we’ve formed meaningful partnerships with the business community and the Government to support Cyprus as a financial hub. The country has welcomed us with open arms, and we’re committed to playing a role in its continued growth.

Cyprus’ financial industry has traditionally relied on local banks, trusts and corporate services. As we move into a new era, where should the country focus to elevate the industry?

Cyprus has a strong foundation but, to truly elevate its financial industry, it must embrace what I call Financial Services 2.0. Attracting more multinational firms is essential. However, the country also needs to focus on building a skilled workforce that can support these businesses. Developing talent pipelines, creating specialised training programmes and fostering an environment that encourages innovation will be key to long-term success. If Cyprus continues investing in its financial ecosystem, it has the potential to become a major player in the global market.

President Christodoulides is hoping to attract foreign-based Cypriots to return to the island. As someone who sought better opportunities abroad, what do you believe is the best way to address the brain drain that has affected Cyprus in the past?

The best way to address the brain drain is to create opportunities that make young Cypriots want to stay in the country or return if they’ve left. Cyprus has excellent universities and a highly skilled talent pool but retaining that talent requires a clear path for career growth. Internship programmes, mentoring, leadership training and partnerships between businesses and universities can help young professionals see the potential of building their careers in Cyprus. At MUFG Investor Services, we actively collaborate with universities to identify and recruit top talent. But beyond individual efforts, the country must attract more multinational financial services firms and support businesses to create an ecosystem where skilled professionals can thrive.

When people reflect on your career in 20 or 30 years’ time, what do you hope they’ll say about John Sergides? What legacy do you wish to leave behind?

I don’t spend much time thinking about my legacy. What matters to me is simple: I want to be remembered as someone who loved his family, embraced adventure and had the privilege of working with exceptional people. If anything, I hope people say that I helped build a firm where talented individuals could do their best work every day, where fairness and respect were the foundation of our culture, and where we made a real impact on the industry. Success isn’t just measured in numbers – it’s measured in the people you inspire, the relationships you build and the difference you make along the way.

This article was first published in the March issue of GOLD magazine. To view it click here