CFA Society Cyprus celebrated its 15th anniversary by awarding a record number of new members who acquired the Chartered Financial Analyst title after successfully passing the exam and completing the four-year required work experience in the field of investment management.
The 29 new members marked a new record for CFA Society Cyprus this year, with its total number of members now reaching 147, fifteen years after it was founded as the local representative of CFA Institute.
A video was presented at the start of the event, with a congratulatory message by CFA Institute President and CEO Paul Smith on the Society’s work.
CFA Society Cyprus President Marios Georgiades said: “Besides the excellent technical training, adopting a high level of ethical behaviour is a priority of ours in order to boost trust in the financial sector and offer a proper service to our clients.”
He said another initiative starting this year will tackle financial illiteracy.
“This is a journey we want to start by approaching local high schools and informing students about financial choices and future financial planning.
We believe such an initiative will make a difference as it will have a positive impact on the younger generation who are the future professionals,” Georgiades said.
Deputy chair of the Parliamentary Committee on Financial and Budgetary Affairs Marios Mavrides also referred to the need to eradicate financial illiteracy.
“It is something we are in dire need of in Cyprus; to educate people and provide them with the correct information to make the right decisions. Financial illiteracy is a major problem, not just in Cyprus; but in Cyprus we paid a very high price for being financially illiterate.”
Mavrides added: “Many people have made many wrong decisions; also policy makers made a lot of mistakes, bad decisions that cost Cyprus society not just money but also a lot of pain.”
On his part, George Spentzos from the CFA Institute’s Board of Governors said chartered financial analysts (CFA) have a “duty towards the clients whose wealth we are managing to always put their interests first”.
CFA Society Cyprus
CFA Society Cyprus is the local society of the CFA Institute, based in Virginia, USA.
With more than 150,000 members worldwide, the CFA Institute offers the Chartered Financial Analyst (CFA) designation; the most respected and recognized professional qualification in the world of finance and investments, after a stringent examination process.
CFA Society Cyprus was founded in 2003 and currently numbers 147 members who are employed by the major banks and investment firms in Cyprus.
As Chartered Financial Analysts, they are best-trained at both a theoretical and practical level for financial and investment analysis and asset management.
