Japanese giant of “MUFG in Cyprus!
Japanese giant of “MUFG in Cyprus!
The announcement of the Japanese giant of “MUFG Investors Services” for the creation of a headquarters in Cyprus with the operation of an office in Limassol is the best news of 2022 in financial terms.
Its attraction is due to the organized and methodical work of CIFA.
“It is a huge vote of confidence for both Cyprus and the Cypriot economy, but more specifically for the investment fund sector. It is a tangible recognition of the development of the sector over the last few years. “As CIFA, I personally have been in constant communication with the MUFG executives and it is with great satisfaction that we see these efforts take shape and a very important decision is being implemented for our country,” his president told Economy Today. , Andreas Giasemidis.
The sizes of MUFG
– Manages more than 3,000 investment funds.
– Assets: $ 785 billion
It belongs to the Mitsubishi UFJ Financial Group with assets of $ 3.2 trillion.
The barometer
The President of CIFA also refers to the factor, which seems to have tilted the scales of the decisions of the Japanese giant in favor of Cyprus.
“The most important advantage that has been measured, apart from the good weather, the good conditions in our country, is the fact that the cost of creating this base in Cyprus is much lower than other European countries. This worked as a catalyst to create this office, this headquarters in our country “notes Andreas Giasemidis.
Dynamics in the field of funds
The size of the company is expected to give even greater momentum in the field of investment funds in Cyprus.
The President of CIFA points out that “he certainly gives an example to other companies in the industry that Cyprus is a reliable center for investment funds.
I hope that other companies, much more than Asia, because the Group has a large presence in Asia, will be convinced to come to Cyprus and the investment fund sector will grow even more with all the benefits directly or indirectly in the Cypriot economy “.
Jobs
The presence of the company here is expected to create new, specialized, jobs.
“There is a willingness to create a base here, which will be able to cover the Middle East, but also all these investment funds, which are currently managed by the Group’s companies in other countries”, says Andreas Giasemidis.