Bakertilly CEO urges for a model change in services sector
Presenting Bakertilly’s new image in Cyprus, but also across the 147 countries where the firm is active, its Eastern Europe CEO Marios Klitou, said that the next five years will be crucial for the future of Cyprus as a service provider.
Talking about the firm’s new image, Klitou said that the new symbol is inspired by organic growth patterns found in nature.
“It signifies our capacity to be agile and adaptable to the unique needs of our clients. The wordmark is in all lowercase letters to represent our personal and approachable nature. The removal of the space between Baker and Tilly signifies our cohesive network.”
He added that the emphasis on a new brand identity reflects Bakertilly International’s desire for a more unified representation across its global network.
Emphasising that the moto they have adopted is “Now for tomorrow” Bakertilly’s CEO said that the model regarding services, adopted in the 1990’s, has reached its limits, and if a different model is not implemented then the economy will be heading for a bumpy ride.
Stressing that the model based on shell companies has come to an end, Klitou said that the time has come to differentiate the model, that is the services provided to foreign investors. “In the case we do not do so, then the sector is to shrink significantly.”
He said that the shrinkage can be avoided by offering new service in the financial field, while adding: “If Cyprus is able to provide services beyond its boarders then it will be able to survive”.
Klitou stressed that those who were directly involved in attracting foreign investments did not manage to bring in large groups or businesses to the country over the past 30 years because of Cyprus’ small size and geographical position.
The CEO, however, suggested that comparisons with Luxembourg are wrong and that Cyprus cannot compete as, perhaps the world’s largest 1000 companies are active in this small European country.
Cyprus, he added, should therefore aim at attracting smaller companies that make up the major part of the services sector. Klitou said that achieving this goal is a feasible project.
Referring to Bakertilly Eastern Europe, he said that it all started with an office he set up in 1997 in Cyprus and gradually expanded to Romania taking on the brand name of Bakertilly and then to Bulgaria, Moldova, and recently to Greece.
Bakertilly Eastern Europe employs 350 staff, eight offices in five countries, 20 Managers, 6,000 customers and has revenue of EUR 16 mln.