ELF Group
Company Overview
Ellinas Finance Public Company Ltd (ELF’) is a Cypriot public company with more than 25 years of experience and expertise in financing and other services.
Set up as a private company in December 1992 in Nicosia, it became a public company in February 2000. It is listed on the Cyprus Stock Exchange and its shares are traded under the symbol ELF.
The Group’s main activities are short term and medium term lending to individuals and companies through specially tailored personal and business loans, financing of investor accounts, factoring services, private equity in Cypriot and foreign companies, international money transfers through the Company’s network of more than 60 locations in Cyprus (through the MoneyGram International payment system), people advisory services (personal income tax, social security and immigration compliance /advisory services) and payroll outsourcing /advisory services. With the best interests of its clients in mind, Ellinas Finance has developed a broad range of specialised products and services, tailor-made to offer quality and service. In its many years of operation, Ellinas Finance has helped a significant number of companies to launch, develop and expand their operations, while facilitating individual clients to achieve their personal goals. The company is committed to serving the financial needs of individuals and companies and to creating long-term value for its shareholders.
Mission and Vision
Mission
In its many years of operation in the Cyprus market, Ellinas Finance has helped a significant number of companies to launch, develop and expand their operations, while facilitating individual clients to achieve their personal goals. The company has a track record of contributing to developing entrepreneurship and supporting the Cyprus economy in a substantial and practical way.
Vision
The company is committed to serving the financial needs of individuals and companies in Cyprus and to creating long-term value for its shareholders.
Values
- Creating Value for a Client: We help our clients become better in what they do. We respond to their changing needs and build up a long term relationship of trust with them.
- Integrity: We serve the needs of clients honestly and with integrity, implementing reliable procedures and remaining accountable for our actions.
- Adhering to the highest quality controls: Our clients’ interests are our main priority. Fully respecting confidentiality, we handle our clients’ financial resources in the most efficient way.
- Performance: We attract, develop and promote the most capable. We recognise and reward dedication, commitment and responsibility.
- Profitability: We work with enthusiasm and consistency to generate sustainable profitability in all sectors of our operations.
Organizational Layout
Executive Committee
Emilios Ellinas
Chairman
Chairman and Managing Director of Ellinas Finance PCL since December 1992.
He graduated from the Pancyprian Gymnasium in 1952. He worked at Y. Shukuroglou & Sons as head of the Insurance Department until 1964. On 1/4/1955 he founded Emilios A. Ellinas & Co which was active in the import, sale and distribution of electrical household appliances and other goods(via the Mega Electric/ Scandia brand). In 1964 he also founded the company Ellinas (Insurance Agencies) Ltd which represented various British insurance companies until 1982. He was then appointed General Representative of the Cyprus public company “Philiki Insurance Ltd” as well as a member of the Board of Directors of “Philliki Insurance Ltd”. He serves as shareholder and member of the Board of Directors of the private companies, The United Five Development Company Ltd and The United Five Construction Company Ltd. In 1992 he founded Ellinas Finance Public Company Limited of which he holds the position of Chairman of the Board of Directors until today. From January 2003 to February 2019 he served as a Managing Director.
Nearchos Petrides
Chief Executive Officer
Chief Executive Officer (CEO) of Ellinas Finance PCL since June 2019.
Nearchos Petrides graduated from Grammar School in 2006 and then obtained a BSc Hons in Finance, Accounting and Management from the University of Nottingham in the UK.
In 2011 he joined KPMG Limited in Cyprus and worked for three and a half years in the Audit Department of the company. As a Senior Supervisor, he was specialised in the external audit of insurance companies and credit institutions and also acquired valuable experience in auditing companies listed on the Cyprus Stock Exchange.
He achieved the title of a Chartered Accountant, and he is a member of the Institute of Chartered Accountants in England and Wales (ICAEW) since 2015.
In May 2015, he joined Ellinas Finance PCL and took over the position of Executive Officer with main responsibilities the strategy and growth of the Company, as well as the management of the Company’s risks. Since July 2016, he has also been Alternate Director of Mr. Demetris Petrides in the Board of Directors and since February 2019, he has been appointed Chief Executive Officer (CEO) of the Company.
He is a member of the board of directors and a member of the Audit Committee of Actibond Growth Fund Public Company Limited, a company listed on the CSE. He is also a member of the board of directors of J&P Fresca (Cyprus) Produce Ltd.
During the period 2017 to 2018, he also served as a member of the Board of Directors and member of the Audit Committee of Cosmos Insurance Public Company Ltd.
In addition, since September 2017, he is a member of the Rotary Club of Nicosia Aspelia.
In 2011 he joined KPMG Limited in Cyprus and worked for three and a half years in the Audit Department of the company. As a Senior Supervisor, he was specialised in the external audit of insurance companies and credit institutions and also acquired valuable experience in auditing companies listed on the Cyprus Stock Exchange.
He achieved the title of a Chartered Accountant, and he is a member of the Institute of Chartered Accountants in England and Wales (ICAEW) since 2015.
In May 2015, he joined Ellinas Finance PCL and took over the position of Executive Officer with main responsibilities the strategy and growth of the Company, as well as the management of the Company’s risks. Since July 2016, he has also been Alternate Director of Mr. Demetris Petrides in the Board of Directors and since February 2019, he has been appointed Chief Executive Officer (CEO) of the Company.
He is a member of the board of directors and a member of the Audit Committee of Actibond Growth Fund Public Company Limited, a company listed on the CSE. He is also a member of the board of directors of J&P Fresca (Cyprus) Produce Ltd.
During the period 2017 to 2018, he also served as a member of the Board of Directors and member of the Audit Committee of Cosmos Insurance Public Company Ltd.
In addition, since September 2017, he is a member of the Rotary Club of Nicosia Aspelia.
Constantinos Servos
General Manager – Operations
General Manager of Operations (GMO) and Compliance Officer from January 2009.
He studied in United States where he obtained an MBA in Economics and a BBA in Applied Financing and Investments at the Zicklin Business School of New York City University. His career in finance sector started in 2000, as a risk analyst at Lyons Mortgage Bank. Since February 2003 he was an external advisor on stock market issues of the Cypriot House of Representatives and later worked in the investment banking department of the SFS Group.
In January 2009 he was appointed General Manager of the Company, a position he holds until today. In February 2019 he became the GMO of the Company. He is also the Company's Compliance Officer for prevention of money laundering by illegal activities issues and Compliance Operator for stock market issues.
In January 2009 he was appointed General Manager of the Company, a position he holds until today. In February 2019 he became the GMO of the Company. He is also the Company's Compliance Officer for prevention of money laundering by illegal activities issues and Compliance Operator for stock market issues.
Board of Directors
Emilios Ellinas
Chairman
Chairman and Managing Director of Ellinas Finance PCL since December 1992.
He graduated from the Pancyprian Gymnasium in 1952. He worked at Y. Shukuroglou & Sons as head of the Insurance Department until 1964. On 1/4/1955 he founded Emilios A. Ellinas & Co which was active in the import, sale and distribution of electrical household appliances and other goods(via the Mega Electric/ Scandia brand). In 1964 he also founded the company Ellinas (Insurance Agencies) Ltd which represented various British insurance companies until 1982. He was then appointed General Representative of the Cyprus public company “Philiki Insurance Ltd” as well as a member of the Board of Directors of “Philliki Insurance Ltd”. He serves as shareholder and member of the Board of Directors of the private companies, The United Five Development Company Ltd and The United Five Construction Company Ltd. In 1992 he founded Ellinas Finance Public Company Limited of which he holds the position of Chairman of the Board of Directors until today. From January 2003 to February 2019 he served as a Managing Director.
Demetris Petrides
Vice Chairman and Non-independent, Non-executive Director
Vice Chairman and Director of Ellinas Finance PCL since December 1992
He holds a BSc (Hons) in Economics from Queen Mary College (University of London). From 1981 to 1983 he worked at Coopers & Lybrand and in 1983 he took over various family businesses which were involved in the production and distribution of vegetables in Cyprus and Greece. He served as MD of the Company until the end of 2002. He has been involved in the export of agricultural products since 2005 and he is a co-founder and Managing Director of J&P Fresca (Cyprus) Produce Ltd, a private company dealing with the packaging and exporting of agricultural products, as well as their distribution in Cypriot supermarkets.
He was also a member of the Board of Directors of various public and private companies, including Philiki Investments Ltd and Philiki Real Estate Limited. He is currently the Chairman of the Board of Directors of Actibond Growth Fund Public Company Ltd, a company listed on the Cyprus Stock Exchange.
Dr Yiannis Pitsillos
Non-independent, Non-executive Director
Director of Ellinas Finance PCL since June 2003.
He studied in Australia where he obtained a Bachelor’s and Doctorate in Chemical Engineering, an MBA and a Graduate diploma in Applied Finance and Investments . He is a Fellow member of the Institute of Directors of the United Kingdom. He started his professional career in the financial sector as an analyst of public companies listed on the Australian Stock Exchange at Credit Swiss First Boston. He then worked for two years in the Chemical Engineering Department of the University of Melbourne in Australia as a researcher and lecturer. From October 1996 to December 2015 he worked in the financial department of the SFS Group where he held various positions in research and analysis, asset management, the management of investments in shipping, real estate and property portfolios, the sectors of high risk capital and private investment funds, as well as in risk management and strategic planning. He was an Executive member of the Board of Directors of the SFS Group from 12 February 1998 to 31 December 2015. Since January 2016, he holds the position of Managing Director of the consultancy firm Rigorous Advisors Ltd which offers consultancy services to various Public and Private Companies.
Costas Melanides
Independent, Non-executive Director
Director of Ellinas Finance PCL since February 2017
He studied Economics and Accounting in London. He worked for two years in accounting firms in London and Nicosia, for five years as Chief Accountant in the Hotel Industry, for thirteen years as Manager in Finance Companies, and for eight years as Head of Internal Audit in a private Group of Companies. He is a member of the Cyprus Institute of Internal Auditors and the International Institute of Internal Auditors (IIA Global), and he holds the professional title of Certified Internal Auditor (CIA).
He has been a member and Chairman of various Board of Directors of Semi-government Organizations in Cyprus, member of the Board of Directors of the Pancyprian Association of Investors, and a member of the Cyprus Commission for the Protection of Competition. Today he is the Secretary of the Board of Directors of the Pancyprian Association of Economics, member of the Board of Directors of private companies, and the Executive Manager of the Cyprus Institute of Internal Auditors.
He has been a member and Chairman of various Board of Directors of Semi-government Organizations in Cyprus, member of the Board of Directors of the Pancyprian Association of Investors, and a member of the Cyprus Commission for the Protection of Competition. Today he is the Secretary of the Board of Directors of the Pancyprian Association of Economics, member of the Board of Directors of private companies, and the Executive Manager of the Cyprus Institute of Internal Auditors.
Nearchos Petrides
Chief Executive Officer
Chief Executive Officer (CEO) of Ellinas Finance PCL since June 2019.
Nearchos Petrides graduated from Grammar School in 2006 and then obtained a BSc Hons in Finance, Accounting and Management from the University of Nottingham in the UK.
In 2011 he joined KPMG Limited in Cyprus and worked for three and a half years in the Audit Department of the company. As a Senior Supervisor, he was specialised in the external audit of insurance companies and credit institutions and also acquired valuable experience in auditing companies listed on the Cyprus Stock Exchange.
He achieved the title of a Chartered Accountant, and he is a member of the Institute of Chartered Accountants in England and Wales (ICAEW) since 2015.
In May 2015, he joined Ellinas Finance PCL and took over the position of Executive Officer with main responsibilities the strategy and growth of the Company, as well as the management of the Company’s risks. Since July 2016, he has also been Alternate Director of Mr. Demetris Petrides in the Board of Directors and since February 2019, he has been appointed Chief Executive Officer (CEO) of the Company.
He is a member of the board of directors and a member of the Audit Committee of Actibond Growth Fund Public Company Limited, a company listed on the CSE. He is also a member of the board of directors of J&P Fresca (Cyprus) Produce Ltd.
During the period 2017 to 2018, he also served as a member of the Board of Directors and member of the Audit Committee of Cosmos Insurance Public Company Ltd.
In addition, since September 2017, he is a member of the Rotary Club of Nicosia Aspelia.
In 2011 he joined KPMG Limited in Cyprus and worked for three and a half years in the Audit Department of the company. As a Senior Supervisor, he was specialised in the external audit of insurance companies and credit institutions and also acquired valuable experience in auditing companies listed on the Cyprus Stock Exchange.
He achieved the title of a Chartered Accountant, and he is a member of the Institute of Chartered Accountants in England and Wales (ICAEW) since 2015.
In May 2015, he joined Ellinas Finance PCL and took over the position of Executive Officer with main responsibilities the strategy and growth of the Company, as well as the management of the Company’s risks. Since July 2016, he has also been Alternate Director of Mr. Demetris Petrides in the Board of Directors and since February 2019, he has been appointed Chief Executive Officer (CEO) of the Company.
He is a member of the board of directors and a member of the Audit Committee of Actibond Growth Fund Public Company Limited, a company listed on the CSE. He is also a member of the board of directors of J&P Fresca (Cyprus) Produce Ltd.
During the period 2017 to 2018, he also served as a member of the Board of Directors and member of the Audit Committee of Cosmos Insurance Public Company Ltd.
In addition, since September 2017, he is a member of the Rotary Club of Nicosia Aspelia.
Corporate Social Responsibility
Corporate Social Responsibility (CSR) is one of the most dynamic and demanding areas of operation of modern companies. Implementation of a comprehensive CSR programme stems from an organisation’s need to balance its financial, social and environmental impact on society. The aim of the CSR programme of Ellinas Finance is to promote the values governing the operation of our company. The ultimate aim is to reward our employees, be more active in local society through a series of actions and to respect the environment in which we operate.