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Grant Thornton Cyprus and Ireland launch quantitative risk offering

Grant Thornton Cyprus has launched a quantitative risk service offering. The service will be a joint venture with Grant Thornton Ireland.

The offering will allow Grant Thornton Cyprus to provide market-leading services, including: Data science & analytics; Model development and assurance; and, Portfolio risk management, to banks and financial services institutions in Cyprus and the region. Such services encompass key risks, including credit risk and span a range of requirements, such as: IFRS9 models; IRB; Stress Testing; and other forecasting models.

As well as resource, capability and practical support from Grant Thornton Ireland and the Grant Thornton network, Andreas Spyrides has been appointed as a Director and Head of Quantitative Risk, in Cyprus. Andreas joined Grant Thornton Cyprus on 1 October 2020 and he has more than 7 years of experience in the international financial services industry. Andreas joined the firm from Barclays Bank in London where he held the position of Vice President and lead a team of analysts in the Wholesale Credit Risk department. He is a CFA charter holder and holds a M.Sc. in Banking and Risk from The University of Edinburgh and a B.Sc. in Computer Science from The University of Surrey.

“We are all very proud for our joint venture agreement with Grant Thornton Ireland as it strengthens our relationship and also builds on the launch of the newly established department, giving an enhanced advisory service to our clients” said Stavros Ioannou, CEO Grant Thornton Cyprus.

Dwayne Price, Partner, of Grant Thornton Ireland stated: “Financial institutions across the EU are facing increasing complexity and are critically dependent on accurate risk modelling for numerous reasons. Cypriot and other Eurozone banks face the same regulatory challenges and requirements as their ECB regulated peers. Our expertise, regulatory insight and national market knowledge will allow us to deliver solutions that satisfy all stakeholders requirements.”

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