Press Release
Deloitte Cyprus is pleased to announce the growth of its leadership team with the appointment of two new partners, effective 1 June 2025. Nicholas Theofilou has been promoted to Partner in the Strategy & Transactions team of Deloitte Limited, and Maria Michaelides at Deloitte Actuarial Services Limited. These new leaders bring remarkable expertise in their respective fields, addressing key market developments, challenges and success-driving needs for clients.
Pieris Markou, CEO of Deloitte Cyprus, comments on the latest appointments: “Becoming a partner is a significant career milestone, earned through merit and by recognising the dedication and zeal of our people. A strong leadership team is imperative to achieving our goals of offering services that continuously adapt to market and client needs, tackling compound client challenges, developing our talent, and contributing to our community. Exceptional leadership, integrity, and ethos, are values that characterise Nicholas and Maria, and they have consistently contributed to our growth, both locally and across the wider Deloitte network. They represent the multi-disciplinary and cross-sector expertise that describes Deloitte, meeting current demand and anticipating future needs for the positive development of our market. We are very proud of Nicholas and Maria as our new partners, and are certain that they will make a significant impact for our clients, our people, and society”.
Get to know the new partners:
Nicholas Theofilou – Strategy & Transactions
Nicholas has over 14 years of experience, serving clients across various industries with operations in Cyprus and abroad, specialising in Mergers & Acquisitions, Financial Due Diligence projects, Valuations & Modeling, Corporate Finance Advisory, Debt and Equity raising projects, as well as Business Plans and Feasibility Studies. For years, he has been serving several key client accounts, leading and successfully executing some of the firm's most significant projects and transactions, as well as projects across Deloitte Middle East and Deloitte North South Europe. He is also a member of the Life Sciences & Health Care industry firmwide leadership team.
Nicholas holds a BA (ECON) in Accounting and Finance from the University of Manchester, and an M.Sc. in Financial Services from Cyprus International Institute of Management (CIIM). He is a Qualified Chartered Accountant (FCA) and a fellow member of the Institute of Chartered Accountants in England & Wales (ICAEW).
A strong advocate of a collaborative mindset, Nicholas actively promotes networking both locally and across borders. He consistently encourages teamwork and the sharing of knowledge to drive collective success and innovation, fostering a culture of continuous learning and professional development.
Maria Michaelides – Financial Risk
Maria is an actuary and brings 15 years of insurance-related experience, spanning both consulting and industry roles. She serves as the Deloitte Middle East Actuarial Lead for IFRS 17, having played a pivotal role in establishing Deloitte as the market leader for IFRS 17 in the region. Maria actively contributes to regional and global working groups on various topics concerning the insurance industry. In addition, Maria holds statutory appointments as Actuarial Function Holder and Risk Management Function Holder for several European insurers.
Her areas of expertise include Solvency II, financial and capital planning, actuarial valuations and insurance product design. She is also at the forefront of Deloitte’s efforts in shaping the actuarial response to Saudi Arabia’s shift to a risk-based capital regime within the insurance industry.
Maria is a graduate of the London School of Economics, with a BSc in Actuarial Science and an MSc in Management and Regulation of Risk, and a Fellow of the Institute and Faculty of Actuaries in the UK. She actively promotes talent development and network collaboration, and is a passionate advocate for diversity and inclusion.
