Gold Magazine December 2013 - January 2014, Issue 33 | Page 39

wealth management

“There’s no
magic solution”
Patience is the key to survival in 2014. Those who have retained their wealth
need to entrust its management to the experts, says Nicolas Theocharides.
By John Vickers | Photography by Jo Michaelides

A

In Moscow in 1998,
I saw armed guards
outside the banks,
preventing people
from going in to
withdraw their money

As CEO and Managing Director of a successful financial services company (UPM
Ltd.), Nicolas Theocharides knows all
about wealth management. He is also
acutely aware of the fact that, traditionally, few Cypriots ever saw a need to hire
someone to look after their money or other
assets. But now, he believes, things have
changed.
“For the whole of the 20th century it was
felt that if you had cash, land or shares in
Bank of Cyprus, that was the perfect combination for you to maintain and increase
your wealth,” he say ̸