Aristeus Financial Services Ltd was established in Cyprus in 2016.


Incorporated on 6th July 2016 with registration number HE357502, Aristeus received its operating license (number 324/17) on 3rd May 2017 as a Cyprus Investment Firm authorized to offer investment and ancillary services and in particular portfolio management and investment advice.


Aristeus provides clients with these services from its offices in Nicosia, Cyprus.

our vision

Provide comprehensive asset management and ancillary services through in-depth research across geographies and asset classes, investment selection and portfolio construction and management, all within a rigorous risk management system to meet the specific risks adjusted return objectives of each of our clients



Aristeus is uniquely focussed on providing investment portfolio management to discerning clients.


Aristeus puts clients’ interests first. We strive to understand their needs and tailor solutions through appropriate asset allocations and bespoke portfolio design contingent on their return objectives and risk appetites.


The chance of successfully meeting each client’s unique goal increases when costs remain contained and discipline is maintained in the face of informational and behavioural challenges. Rebalancing when necessary and adjusting strategies only infrequently is critical to attaining long term success.


Target high single digit returns with volatility levels less than equities through investing in a diversified, global mix of predominantly public and liquid securities across the major traditional classes; equities, bonds and cash.


Supplement clients' exposure to traditional asset classes with selective exposure to alternative and less liquid asset classes; private equity, hedge funds and property.


Undertake all asset management within rigorous risk management standards and parameters established and managed by the Aristeus' risk management team.


Maintain regular contact with clients through regular reporting, quarterly investment committee meetings and client meetings.


Build and maintain high level of investment professionalism, ethical standards and social responsibility.


Build and maintain international partnerships with banks, brokerage firms and investment research resources, allowing us to access a comprehensive range of investment opportunities, enabling Aristeus to better attain the investment objectives of our clients.


Jeremy Downward

Paris Frangoulis

Executive Director

Executive Director

In 2016 Jeremy set up Aristeus, a fully regulated asset management firm in Cyprus and is the company’s CIO.


In 2001 Jeremy set up a family office managing the investments of a prominent European family. The office made investments across the asset class spectrum in developed and emerging markets. He acted as CIO until late 2015 and remains a board member.


Previously Jeremy was a founding partner and board member of Greece’s first investment bank, Alpha Finance from 1989 to 2001. Alpha Finance listed on the Athens Stock Exchange is April 1995 and was sold to Alpha Bank in 2001.


Prior to Alpha Finance he worked at Continental Illinois Bank in New York, Athens and Piraeus.


Jeremy graduated from Leeds University in 1976.


He sits on the boards or advisory committees of various companies, investment vehicles, educational bodies and NGOs.

Paris founded Black Swan RAC in 2016, a consultancy firm advising on risk, compliance and macro analysis. Formerly, he was the CRO at Alpheus Advisors SA, a major European family office.


He started his career with Maple Partners UK, a London based proprietary hedge fund manager where he worked as a quant in risk and trade. He left Maple in 2004 to set-up the RM unit at Egnatia Finance SA a major Greek brokerage/asset manager.


Paris holds a Durham University PhD researching the frequency of arbitrage opportunities in the FTSE100 options market. He holds a MSc in Business Finance and an Engineering degree from the University of London.


Paris worked extensively with regulatory authorities when applying for model approval or under supervision. He taught Financial Engineering and Econometrics at the University of Durham and his current business and research interests lie in risk management, asset allocation, time-dependent risk exposure and macroeconomic trading.

George Garafas

George David

Executive Director

Non-Executive Director

George has been involved in financial markets for over 20 years, investing in global equities. Although he has worked on global mandates, he has spent the majority of his time in Emerging Markets, travelling extensively throughout Asia, Latin America and Africa, in the process visiting over 3000 companies.


He began his investment career in 1998 on the sell side at Nomura in London, and then moved to Lehman Brothers where he headed the Internet Technology Equity Research team and was an institutionally ranked analyst. In 2002 he moved to the buy-side, firstly as an advisor at the Tail Wind Fund, a US hedge fund specialising in convertible bonds, and then as an investment manager at CIM Investment Management, a leading value equity house.  Prior to joining Aristeus, George was part of the investment team at Alpheus Advisors SA, an advisory group of a prominent European family.


George started his career as an economic consultant at the Regulatory Policy Institute advising regulators on economic and competition policy and then moved to Arthur Andersen as a manager advising a range of FTSE 100 and S&P 500 companies.


He holds a DPhil in Economics from Oxford University, Christ Church College, where he also taught economics and an MSc in economics from Warwick University.

George served as Chairman of the Board of Directors of Coca-Cola HBC AG from 1981 to 2016.  He serves on the boards of Petros Petropoulos SA and Kar-Tess Holding. He is a member of the board of the AG Leventis Foundation, chairman of the Centre for Asia Minor Studies, vice chairman of the Council of the University of Cyprus, Regent of the University of Edinburgh and a member of the Honorary board of the Hellenic Foundation for European and Foreign Policy. He began his career in 1959 with a group of companies controlled by his uncle AG Leventis in Nigeria.  George is also a member of the Social Responsibility Committee of Coca-Cola HBC AG.  He graduated from the University of Edinburgh in 1959.

Kyproulla Karantoni

Non-Executive Director

Kyproulla is a Director at Fiducitrust Services Ltd, a licensed corporate service provider in Cyprus and has also been appointed as a Member of the Council of the Cyprus Stock Exchange.  Kyproulla has over 14 years professional experience and is a member of the Institute of Chartered Accountants in England and Wales and the Institute of Certified Public Accountants of Cyprus.  Previously she had joined KPMG in Nicosia, where she qualified as a chartered accountant.  Following her studies, she worked with Andersen in London (People Strategy Consulting Department).  Kyproulla studied Management and Systems Science at City University (CASS) of London.

George Leventis

Maria Zigra Syrmou

Non-Executive Director

Non-Executive Director

George is currently a member of the Leventis/David Group, a family group with interests in bottling and other diversified investments. He also acts as a Board Member of a number of private companies.


George serves on the board of Frigoglass SA and HD Insurance Ltd.


He has a background as an equities analyst and in the fund management industry and holds an Investment Management Certificate qualification.  George studied BA(Hons)/MA(Oxon) in History at the University of Oxford, UK, and then obtained a postgraduate degree in Law from the City University, UK.

Maria has served as Developed Markets Equities Fund Manager for Alpheus Advisors for 12 years. During that time, she has been responsible for all investments in European and U.S. public equities as well as advising on strategic asset allocation.


Prior to joining Alpheus, she was an Investment Manager at the Greek mutual funds company, Alpha Asset Management, where she set up and run the International Equities desk for 5 years. Previously Maria worked for three years at Scottish Life in Edinburgh as a European Equities Investment Analyst.


Maria is a qualified CFA with the UK Society of Investment Professionals and a Qualified Fund Manager with the Greek authorities. She holds MSc qualifications from Stirling University and Heriot Watt University in Finance and International Banking courses and graduated from the University of Edinburgh with a Bachelor of Commerce degree in Business Studies in 1995.

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Our Address

Acropolis Tower, 1st Floor

66 Acropoleos Avenue


2012 Nicosia



Tel: +357 22021076

Fax: +357 22021072

Find Us Here

© Aristeus Financial Services Ltd | All Rights Reserved

Regulated by The Cyprus Securities and Exchange Commission, License No: 324/17