Leadership in the financial industry requires a balance of empowerment, strategic foresight, and adaptability. A prominent modern leader must be flexible and responsive to change and have visionary and strategic thinking skills.
Marina Zevedeou, CEO of Aspen Trust Group, is one such leader who is hands-on, transparent, hardworking, caring, and efficient. She is also an avid supporter of the Group’s ESG approach, driven by the commitment to sustainability and responsible resource management. With over two decades of client-servicing before acquiring the Group, she has a deep understanding of their needs, ensuring she remains fully engaged in every aspect of the client’s operations.
In an interview with The Enterprise World, Marina shared some insights about the company, her personal life, and major achievements. Here are some excerpts from our fascinating conversation.
Q1. How has business leadership changed over the years? In your opinion, what are the important qualities a modern leader should possess?
Over the years, business leadership has evolved significantly due to shifts in technology, globalization, and changing societal expectations. Modern leaders are expected to adapt to these changes and possess a diverse set of qualities to navigate the complex business landscape successfully.
In my opinion, important qualities a modern leader should possess include:
- Adaptability: Leaders must be flexible and responsive to change.
- Emotional Intelligence: Understanding and managing one’s own emotions as well as others is crucial for effective leadership.
- Visionary Thinking: Having a clear vision and inspiring others is essential.
- Strategic Thinking: Leaders should make informed decisions based on data and analysis.
- Collaboration: Collaboration and teamwork drive innovation and problem-solving.
- Integrity: Trust and ethical behavior are fundamental to effective leadership.
- Resilience: Leaders must bounce back from setbacks and challenges.
- Grit: Demonstrating persistent effort and determination in the face of challenges.
- Transparent: Being open and honest in communication to build trust and alignment.
- Authenticity: Building genuine relationships and fostering a culture of trust and respect.
Q2. Please walk us through your educational/professional journey. What was the ‘aha moment’ that inspired you to venture into the industry you are working in?
Throughout my educational and professional journey, I have accumulated over 25 years of experience in the financial services sector. Graduating from the London School of Economics, I began my career at PwC in the UK and Athens, where I gained invaluable expertise in international corporate structuring, financial reporting, taxation, mergers, acquisitions, family office services and many more.
Transitioning to the role of COO at Equity Trust Cyprus was a significant milestone for me. It provided me with invaluable opportunities to collaborate with industry leaders and engage in high-profile investment projects across Russia, the CIS countries, Southeast Asia, and India. Managing the exclusive investments of prominent investment banks within these regions allowed me to immerse myself in a wide array of projects, each with its own complexities and challenges.
Upon assuming the roles of COO and later the CEO of The Aspen Trust Group, my professional journey reached new heights. I spearheaded the execution of groundbreaking projects, including the largest logistics project in Russia facilitated through Cyprus. Additionally, I oversaw the management of multinational corporations, navigated intricate Group structures across various sectors such as computers, agricultural equipment, metals, green energy and many more.
My experiences reflect the depth of my involvement across diverse industries, reaffirming my commitment to driving positive change and fostering sustainable growth. As I look back on my journey, I am proud to have played a significant role in shaping the landscape of the financial services sector and beyond.
Q3. When was the company established? What are the products/services it primarily offers?
The Aspen Trust Group is one of the pioneers of the corporate service industry in Cyprus. Since the establishment of the Group in 1998, it provides financial advisory, consulting services and international structuring solutions to corporates and High Net Worth Individuals. Specific services include the setup and management of entities globally, legal and administration services, banking, tax compliance and tax planning, accounting and financial reporting, payroll, financial management and restructuring, re-domiciliation, patent registration, residency and immigration, cross-border mergers, family office services, intellectual property consulting and headquartering.
Our Group has worked hand in hand with corporate and private clients to provide strong, flexible, and evolving business solutions. This is the Aspen tree philosophy. Inspired by the connectivity network found in the Aspen Forest, the firm’s professionals work together with clients to understand and tailor multi-disciplinary services and grow the clients’ potential into a grove of business success.
Q4. Tell us three unique factors that differentiate the company’s products/services from the competitors’ offerings.
The Aspen Trust Group stands out for several reasons. Firstly, we offer a comprehensive range of services, covering everything from entity setup and management to legal and administration support, banking and tax compliance, and even intellectual property consulting. This diverse suite of offerings ensures that we can meet the varied needs of our clients, whether they are corporate entities or High Net Worth Individuals.
Secondly, our distinctive personalized approach to client service sets us apart from others, as we dedicate time to deeply understanding each client’s unique needs, tailoring bespoke solutions accordingly. This hands-on method ensures every client receives individualized attention, leading to optimal outcomes for their business ventures. Complementing this approach is our remarkably diverse workforce, with over 50 percent comprising women from various ethnic and cultural backgrounds, speaking in 10 different languages, including Creole, English, French, German, Greek, Mandarin, Filipino, Russian, Spanish, and Ukrainian. This diversity has been instrumental in fostering close relationships with our clientele, driving our success for over a quarter of a century.
Lastly, our Aspen Tree Philosophy drives our collaborative approach to client service. Inspired by the connectivity network found in Aspen Forest, we believe in working closely with our clients to understand their goals and challenges, and then leveraging our multi-disciplinary expertise to help them grow and succeed. By fostering a culture of collaboration and innovation, we differentiate ourselves by nurturing our clients’ potential and cultivating lasting business success.
Q5. As the Founder/CEO of the company, what are the roles/ responsibilities you shoulder?
As the Founder and CEO of the Group, I bear multifaceted roles and responsibilities that are essential in steering the organization towards its goals and ensuring its overall success.
Firstly, I provide strategic vision and direction, guiding the Group’s long-term growth and development based on our core values and objectives. Additionally, I oversee the day-to-day operations, including financial management, resource allocation, and risk assessment, to ensure optimal efficiency and performance. I also play an important role in cultivating a positive organizational culture and fostering teamwork and collaboration among employees.
As a leader, I am committed to nurturing talent, empowering my team, and fostering innovation and creativity within the organization. Furthermore, I represent the company externally, building and maintaining relationships with clients, associates, and the broader community. Through these diverse responsibilities, I am dedicated to driving the Group forward and making a positive impact in the industry and beyond.
Q6. Who is your role model and how he/she has inspired you to reach where you are today?
As I reflect on the question of my role model, I find myself drawn to a broader philosophical perspective rather than a single individual. While I do not have a specific individual as a role model, I draw inspiration from the countless remarkable individuals, specifically women who have shattered glass ceilings and paved the way for gender equality and empowerment throughout history. Their unwavering commitment to challenging stereotypes, advocating for equal opportunities, and uplifting others has deeply inspired me on my own journey.
I actively participate and support networks and mentorship programs, with a particular emphasis on advancing women’s careers. I hold the role of President at the Women’s Indian Chambers of Commerce and Industry (WICCI) in Cyprus, an organization dedicated to promoting women entrepreneurs and strengthening the business connections between Indian and Cypriot women.
I am the Cyprus Country Chair of the G100 Global Trade Wing, a group of female leaders committed to transforming the business and political landscape to benefit women in their journey. I am also one of the founding members of The Cyprus Women Network Committee which was established in 2022 and is part of the International Chamber of Commerce (ICC).
As a result of my active participation in women empowerment initiatives, I have been awarded with the prestigious Madame Figaro Woman of the Year 2023 in the Professional/Businesswoman category – the leading women’s magazine in Cyprus, hosts the renowned Women of the Year Awards to celebrate women who make a difference, inspire, dare to follow their dreams and are the role models of tomorrow. Furthermore, I have also been honored by Citywealth with the GOLD Award for Mentor of the Year in their 2023 Powerwomen Awards as well as the 2024 Woman of the Year- International BRONZE Award.
Q7. Please shed some light on the significant achievements/milestones throughout your illustrious career.
Throughout my career, there have been several significant achievements and milestones that have shaped my journey. One standout moment was my acquisition of the Aspen Trust Group in 2019. This maximized my autonomy and self-empowerment, finally giving me the reins of the Group and allowing me to claim its successes as mine after so many years of efforts in building up the company to that which it is today.
Under my leadership, the Aspen Trust Group has risen to a prominent position in Cyprus’ financial services industry, garnering prestigious accolades such as (1) the Citywealth International Financial Centers (IFC) Winner Award for Trust Company of the Year (Mediterranean) 2024. This accolade follows the company’s receipt of (2) the GOLD Award for Trust Company of the Year (Mediterranean) in 2023.
Additionally, the Aspen Trust Group has been recognized as:
- Corporate INTL the Global Awards Winner 2024 for International Transaction Structuring Advisory
- The Best Corporate Business Service Providers 2023 by Industry Outreach Middle East
- The Tax Advisory of the Year 2023 in Cyprus by Global Law Experts
These achievements reflect our commitment to excellence and innovation, solidifying our reputation as a trusted partner in the financial sector.
Q8. As a successful business leader, how do you handle failures/setbacks? What are some important leadership lessons you’ve learned throughout your journey?
As a successful business leader, navigating failures and setbacks is an inevitable aspect of the journey. My approach to handling such challenges is rooted in adaptability and grit, as well as the commitment to continuous learning and improvement.
One significant milestone in my career was the acquisition of the Aspen Trust Group in 2019. However, this took place under the complexities brought forth by the Covid-19 pandemic. It was my resilience and consistency that enabled me to implement a new leadership strategy and successfully guiding the Group through this global crisis. This experience taught me the importance of remaining calm and proactive in the face of adversity, as well as the value of effective communication and decisive action in times of uncertainty.
Additionally, recognizing the need to adapt to evolving market dynamics and regulatory requirements, I initiated a comprehensive restructuring and rebranding of the Aspen Trust Group, modernizing our services and ensuring compliance with new legislations.
Throughout my journey, these experiences have taught me invaluable leadership lessons in resilience, adaptability, and the importance of fostering a cohesive organizational culture under difficult times. Ultimately, I believe that failures and setbacks serve as opportunities for growth and refinement, leading us towards greater success and fulfillment in our professional endeavors.
Q9. How do you ensure a perfect work-life balance? What are your hobbies/interests beyond the cabin?
As a CEO with a demanding schedule, achieving a perfect work-life balance is an ongoing endeavor that requires intentional effort and prioritization. I maintain this balance by implementing effective time management strategies, delegating tasks to capable team members, and setting boundaries to ensure that I can dedicate quality time to both work and personal pursuits.
Apart from that, I prioritize activities that allow me to recharge and find fulfillment outside of the professional realm. These include hobbies such as gym and Pilates training, yoga, travelling, reading especially on nutrition and casual networking. These activities are my safe spaces for relaxation, creativity, and personal growth. By nurturing these interests and making time for self-care, I am able to maintain a healthy balance between my professional responsibilities and personal well-being, ultimately enabling me to perform at my best in all aspects of life.
Q10. According to you, what are the most critical challenges and opportunities business leaders will face in the near future?
In the near future, business leaders will encounter a multitude of challenges and opportunities that will shape their strategies and decisions. One of the most critical challenges will be navigating the increasingly complex global economic landscape, marked by geopolitical tensions, trade uncertainties, and technological disruptions. Additionally, leaders will face the ongoing imperative to adapt to rapidly changing consumer preferences and behaviors, driven by digitalization and shifting societal values. Moreover, ensuring sustainable growth while addressing ESG concerns will be paramount.
On the flip side, these challenges present opportunities for innovation, diversification, and strategic partnerships. Embracing emerging technologies, fostering a culture of agility and resilience, and prioritizing ESG initiatives can position businesses for long-term success in an evolving landscape. Overall, effectively addressing these challenges while capitalizing on opportunities will be essential for business leaders to thrive in the near future.
Q11. Please share a piece of advice for the young business leaders aspiring to make a mark in their respective industries.
For young business leaders aspiring to make a mark in their respective industries, I offer the following advice:
The financial services industry is a diverse field encompassing banking, investment management, insurance, and financial planning. It serves as the backbone of economic stability, facilitating capital flow and aiding businesses and individuals in achieving financial goals. To excel in this dynamic industry, prioritize building a strong educational foundation and seeking internship opportunities, as practical experience is invaluable.
Additionally, focus on networking and staying informed about industry trends. Soft skills such as teamwork, communication, and problem-solving are crucial, along with upholding ethical standards and pursuing professional certifications. Remember to stay humble, stay tuned, and stay relevant. It is also important to remain authentic and adopt a proactive yet carefully reactive approach to navigate challenges effectively.
