Changes are underway at the Ministry of Finance following a Cabinet decision, as the current Director General, George Panteli, is transferred to the Ministry of Education. Andreas Zachariades, who previously held the position of Director General at the Directorate General for Development of the Ministry of Finance, will take over Panteli’s role.

Andreas Zachariades has served as Director General of the Directorate General for Development at the Ministry of Finance since June 17, 2024. Before assuming this role, he was Director General at the Ministry of Labor and Social Insurance, holding that position from September 1, 2020, until June 16, 2024.

Born in Nicosia in 1967, Zachariades graduated from the English School in Nicosia in 1986. He went on to study Economics and Accounting at the University of Southampton, from which he graduated in 1991. His professional journey began at KPMG in the United Kingdom, where he became a member of the Institute of Chartered Accountants in England and Wales in 1994. He returned to Cyprus, continuing with KPMG until 1997, when he was appointed Accountant at the Republic’s Treasury.

Throughout his career, he has held various roles, including Head of the Fiscal Management Unit at the Ministry of Labor and Social Insurance, within the Internal Audit Directorate and the Public Procurement Directorate at the Treasury. In 2006, he was appointed Director of Internal Audit in the Republic’s Internal Audit Service.

From November 3, 2010, to August 31, 2020, Zachariades served as Assistant Accountant General of the Republic under Article 126 of the Constitution.

In addition to his governmental roles, he served on the Cyprus Gaming and Casino Supervision Authority from January 27, 2017, to January 27, 2023.

Most recently, on June 28, 2023, the Council of Ministers appointed him as Chair of the Cyprus Public Oversight Board of the Audit Profession.

The Cabinet, chaired yesterday by the President of the Republic, Mr. Nikos Christodoulides, reviewed the needs and requirements of the Public Service and decided on the following appointments and transfers of Director Generals, effective from November 1, 2024:

• Mr. Andreas Zachariades to the Ministry of Finance.

• Mr. George Panteli to the Ministry of Education, Sports, and Youth.

• Ms. Marina Ioannou Hassapi to the Ministry of Transport, Communications, and Works.

The Cabinet also recommended to the Public Service Commission the interim appointment of:

• Ms. Penelope Papavasiliou as Acting Director General for the Directorate General for Development, Ministry of Finance, effective November 1, 2024, in addition to her duties as Secretary of the Cabinet, until the position is permanently filled.

• Ms. Anna Aristotelous, Director of Prisons, as Acting Director General of the Ministry of Defense, from November 1, 2024, until the position is permanently filled. She will also continue her duties as Adviser and Head of Humanitarian Affairs for Missing Persons and Enclaved Persons, as assigned by the President.