South: Quantuma opens Cyprus office as it expands internationally

Business advisory and corporate recovery firm Quantuma has opened its first international offices as it looks to raise its global profile, with two sites established in Cyprus.

Based in Nicosia and Paphos, the Cypriot team will be led by Quantuma partners Andrew Andronikou and Constantinos Ioannou. Both are licensed insolvency practitioners in Cyprus, with combined experience of more than 30 years in corporate recovery and reconstruction work.

The offices will provide a full range of services in Cyprus, including corporate finance, commercial funding, restructuring, investigations, forensic accounting and litigation support.

This follows strong growth figures for the London-headquartered business, with turnover rising to £10.4 million in the 12 months to March 31, 2018 – the fifth consecutive year of double digit revenue growth. The company has also expanded its headcount to 140, up 45% on the previous year.

In addition to its London base, Quantuma has offices across Brighton, Watford, Bristol, Manchester, Marlow, Southampton, Birmingham, Bournemouth and Weymouth.

Andrew Andronikou, partner at Quantuma in Cyprus, said: “There is a real demand for expert financial advice in Cyprus, which I have seen first-hand in recent years. I have been taking appointments in the country since 2011, which include some of the largest insolvency cases on the island. Since joining Quantuma last year, we have already been appointed on a number of domestic and cross-border cases in Cyprus and operate on a number of bank panels.

“Opening these new offices will enable the business to make better use of our growing contact base in the region, and I look forward to adding to our team in the coming months.”

Carl Jackson, managing partner of Quantuma, said: “As the business has continued to achieve strong financial results, we have increasingly looked at our potential to expand globally. With the impacts of the global financial crisis still evident in Cyprus, there is a real need for support and advice to businesses both big and small to improve efficiencies and return them to previous levels of growth.

“The local knowledge of both Andrew and Constantinos will prove invaluable in building the profile of our new offices, and will act as a gateway to further international expansion in the future.”