Cyprus Trading Corporation (CTC) – GC Powerlist
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Greece and Cyprus Teams 2019

Cyprus Trading Corporation (CTC)

| Cyprus Trading Corporation (CTC)

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Greece and Cyprus Teams 2019

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Cyprus Trading Corporation (CTC)

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Cyprus Trading Corporation’s lean in-house legal team achieves fantastic results by leveraging the impressive talents of its lawyers through the adoption of a horizontal organisation, which allows a degree of independence for its three individuals. Group internal legal advisor Pella Demetriades, who reports directly to the group CEO, described the major recent projects in which the team has been involved as many and varied, with the team in charge of all group transactions. Among others, she mentions the conclusion of an agreement with the Bank of Cyprus for the disposition of real estate assets of a total value of approximately €228m in December 2018 as the most challenging as well as rewarding project within the past year. Internal achievements have also been marked, with Demetriades considering the past two years as ‘a transitional period for the legal function’. She names a few of the key changes as a shift towards all legal-related projects now being led by the team and a far greater emphasis on the communication of information cross-functionally: ‘Legal is involved in the day-to-day work of all companies and segments within the group, aiming to gain thorough awareness of operations, similar to what would be expected from a business person. A change in culture is therefore being promoted, with evident results, where officers across all sectors seek the advice of legal counsel for any matter of concern, towards an open door policy’. The team has also, along with the IT department, built and deployed a new tool to allow for the effective archiving and management of documentation, legal disputes and contracts, which will increase the efficiency of time management and the security of confidential information. Demetriades provided the following comprehensive summing up of the reasons for the team’s success: ‘The way the team is structured allows for the development and support of each member to its fullest potential. George Mitsides offers his unmatched experience as a veteran of the group, while I bring in a fresh perspective in problem solving, with a focus in technology. Demetris Lazarou, having experience in sales and administration, combined with studies in law, contributes with his all-round operational knowledge’.

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