Message from our Chairman
Phidias Pilides
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With the financial crisis still overhanging, the global and Cyprus economy remained under strain in 2011. The tragic explosion of 11 July 2011 and the resulting electricity disruption has exacerbated the already weak financial landscape. |
PwC Cyprus has directly and responsibly reacted to this new crisis, by continuing to cater promptly and proactively to our clients’ needs, doing our best to maintain productivity while reducing our electricity consumption. In the meantime, the difficult economic conditions of the past year have encouraged us to explore new opportunities so as to create new experiences for our clients and people.
PwC is rich in people talent and passion. This talent and passion, combined with our corporate culture of excellence, makes us a dynamic organisation that continues to thrive in the most challenging economic conditions. This is the power of PwC. We build strong and long-lasting relationships with both our clients and our people, who, now more than ever, are the source of our competitive advantage. We focus on our people’s development with the same intensity we apply in meeting our clients’ needs. Our extensive internal training and development programme equips our people with up-to-date industry knowledge and the skills required for them to progress through our clearly defined career paths and advancement opportunities. We know that excellence, like value, is measured by more than numbers. Despite the current market conditions, we have managed to maintain our revenues at the same level as in 2010 (2011: €73.6m against 2010: 72.2m) and we expect the year ahead to be both challenging and exciting. We have moved forward with our new integrated and marketfocused structure. As from July 2011, PwC Cyprus is organised along two major service lines, Assurance & Advisory and Tax & Legal services, in alignment with our clients’ needs. In addition, we are proud to announce that, as from July 2011, we have five new Directors and six new Senior Managers. It is worth mentioning that, overall in 2011, we had 102 promotions of staff.
The past year has been full of new experiences and new ways of thought. Not least of all was the beginning of a new journey: that of our rebranding. Underlying the strong visual elements of the brand is the essence of what PwC really stands for: how we are viewed by our clients, our people and our stakeholders. Beyond our capabilities and experience, PwC should be known for building great relationships with clients and helping them to create the value they are looking for. This is our brand promise. We listen to clients in order to acquire a thorough understanding of their business and their needs. We treat our clients’ requests with urgency and respect, and we work relentlessly to meet and exceed their expectations.
Beyond the realm of client service, PwC Cyprus is an active member of its community, volunteering extensively within our local regions so as to bear a positive impact on the welfare of the people around us and on society at large. We strive to protect the environment, we offer pro-bono professional services and we promote corporate community leadership, contributing to charity initiatives both financially and by sharing our time and skills.
I complete my career with the firm on 31 December 2011 and Evgenios Evgeniou, our newly elected Territory Senior Partner, will lead our organisation as from 1 January 2012, continuing our successful dynamic course. Our focus for this year is business development across various markets and our continuing commitment to high quality client service. As a creative organisation, we aim to continue to act with agility in adapting to the rapid changes around us, thus not only maintaining the trust and respect of our clients and our community, but continuing to grow in numbers, in talent, in skills and in the quality of our people.
