Bak­er­tilly CEO urges for a model change in ser­vices sec­tor

Financial Mirror (Cyprus) - - CYPRUS -

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.

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