UK insolvency specialist Quantuma opens two offices in Cyprus

05 September 2018 2 min. read

A mid-sized business advisory firm from the UK has made a foray into Cyprus. Quantuma, which is headquartered in London, has launched operations in Nicosia and Paphos, with Cypriot nationals Andrew Andronikou and Constantinos Ioannou tapped to lead the new venture.

Founded in 2013, Quantuma is a fast growing UK consultancy. The corporate recovery and business advisory specialist generated revenue of £10.4 million in its latest financial year, an increase of 10% on the year previous. Staff numbers also increased from 96 to over 140 today based out of ten offices, up from seven offices twelve months ago. 

According to Carl Jackson, Quantuma’s Managing Partner, the growth of the consultancy was mainly due to a growing portfolio of clients in the retail and legal sectors. In retail, the firm has helped Store 21 and Select through their administrations, while in the legal field Burroughs Day and Edward Hayes among others brought in the firm for services support. Two years ago, Quantuma was involved with one of the most high profile insolvencies in Europe’s legal industry, that of King Wood & Mallesons. 

UK insolvency specialist Quantuma opens two offices in Cyprus

While Quantuma has completed several engagements outside the UK, the consulting firm has to date operated from its offices in London, Southampton, Marlow, Watford, Brighton, Birmingham, Bristol, Manchester, Ringwood and Weymouth. Now, in its first international expansion move, the consultancy has set permanent foot on Cypriot soil, with the opening of offices in Nicosia and Paphos. 

The Cypriot team is led by Quantuma partners Andrew Andronikou and Constantinos Ioannou – both being licensed insolvency practitioners in Cyprus with combined experience of more than 30 years in corporate recovery and reconstruction work. Andronikou has been with Quantuma for a year now, and previously worked for UHY Hacker Young in London for nearly two decades, latterly serving as a partner in Corporate Restructuring. Ioannou spent the past two years in Cyprus working as an independent consultant in the field of insolvency, a role he took on after being involved with one of the largest receivership cases of the island. Prior to that, he had a career in management, auditing and accounting, including a short spell with Big Four firm KPMG. 

Quantuma’s new offices will according to Andronikou and Ioannou provide a full range of services, including corporate finance, commercial funding, restructuring, investigations, forensic accounting and litigation support.