Managing Director Irena Damianou shares insights into Eurofast’s cross-continental expansion strategy and the philosophy shaping its growth.
What’s the secret ingredient that keeps clients coming back to Eurofast?
We’re big enough to cover 24 offices across three regions, but not so big that we’ve lost the personal touch, and that balance is something we value greatly at Eurofast. The secret ingredient, at its core, is trust. We don’t impose a headquarters mindset on every office. We hire local experts, empower them, and let their intelligence shape how we operate in each market.
What provides the structure is a shared set of values and an uncompromising standard of quality that travels well across languages, time zones, and legal systems. The way we serve a client in Tbilisi and the way we serve one in Zagreb will look different on the surface, the culture, nuance and local knowledge will vary, but the underlying commitment to excellence and transparency is identical. That consistency is what our clients feel, even when they operate across multiple of our markets simultaneously, and it’s what keeps them coming back.
At the end of the day, we are the ultimate one-stop-shop. One point of contact, one team that knows your business, your market, and quite often, knows you personally. We deliver, and when the situation calls for it, we go out of our way to deliver. We pick up the phone. We show up. We meet face-to-face. In a world of automated responses, ticketing systems and endless email chains, there is an enormous competitive advantage in being the firm that responds fast, clearly, and with exactly the right person.
We’ve been very deliberate about not automating away the human relationship in a world of fast paced technological advancement. Because that relationship is the product, just as much as any service we provide. And here’s the thing we’ve learned in our 48 years in the field; clients don’t always remember the smooth transactions. They remember who was there for them when things got complicated. That’s where trust is built, and that’s what keeps people coming back to Eurofast not for years, in many cases, for decades.
As a Managing Director of a company operating in multiple countries, what is the biggest challenge in managing such a multinational organization?
People often assume it’s the logistics; the time zones, the languages, the different regulatory environments across all our offices. And yes, those definitely keep us all on our toes. But in fact, the biggest challenge is also the biggest reward: cultural alignment. Getting a team in Tbilisi and a team in Vilnius to not just follow the same processes, but to genuinely share the same values, the same work ethic and the same vision for what we’re building together, that’s where the real challenge lies. And it’s not something you solve with a handbook or a memo. It requires constant communication, a lot of listening, and a genuine respect for the differences that each market and each team brings to the table.
What I’ve come to appreciate over the years is that our diversity is our greatest strength. The fact that we understand how business is done in Bucharest, in Nicosia and in Ljubljana, that’s not a complication, that’s our value proposition. Our clients operate across borders, and so do we. You can systemise almost everything, but culture is something you have to nurture deliberately, every single day. When it clicks, and it does click, watching teams across different countries move in the same direction with the same sense of purpose is one of the most satisfying parts of this job. We’ve been building that since 1978, so I’d like to think we’re getting pretty good at it, although there’s always room to grow.
That said, it requires considerable effort, not just from myself, but from every single person within Eurofast. We invest in educating our people about each other’s cultures; the religions, the mentalities and the histories, because the key really is in the details. Understanding those nuances is what bridges the gap and brings everyone together.
And above all else, we recognize that nothing beats face to face contact. I make it a point to visit our offices as regularly as possible, to meet our teams in person and genuinely get to know them. For an organisation of our size and geographic spread, that’s not always easy, which is why we also hold frequent cross-country brainstorming sessions, bringing together people from different countries and departments to exchange ideas, share knowledge, and frankly, just get to know each other better.
In what ways does Eurofast’s diversity contribute to its success throughout the region?
Our diverse workforce is key to maintaining success and global competitiveness in our regions. Our team of over 250 professionals enables us to cover a multitude of professional, cultural, linguistic, and educational backgrounds, broadening our perspective of the markets we operate in and helping us identify our clients’ needs from country to country more effectively.
Beyond enhancing client service, diversity drives innovation by fostering fresh ideas and creative problem-solving. We celebrate different ways of thinking and recognize that our differences are what make our organization stronger. We recognize the value of combining experienced professionals with new talent in strengthening our teams. That’s why we invest in professional development, promote from within, and bring in fresh expertise to stay ahead in the industry. This mix of experience, innovation, and diversity boosts collaboration, adaptability, and service quality, making Eurofast a leader and trusted partner in the global stage.
Southeast Europe, the Middle East, the Baltics, markets that are often underestimated by mainstream financial media. What are investors missing when they overlook them?
Quite a lot, actually. These are regions where transformation is happening in real time since the Western Balkans are deepening their integration into the EU framework. Every market poses its own challenges. Some have regulatory unpredictability, some have infrastructure gaps and some have political complexity. But we don’t choose markets based on ease and we certainly don’t choose them for their mainstream image; we choose them based on where our clients need us. And honestly, the harder the market, the more value we add. Easy markets don’t need Eurofast. Complex ones do.
What sophisticated investors understand is that the most compelling opportunities rarely announce themselves on the front page. They exist where the regulatory landscape is still evolving, where the competition hasn’t yet crowded the space, and where being early, and well-advised, creates a genuine advantage. The risk isn’t in these markets being “unknown”. The risk is in approaching them without someone who truly understands them. That’s precisely the gap Eurofast was built to close and where our diverse teams shine.
Eurofast talks about putting clients at the center of everything. What does that commitment look like in practice, beyond the mission statement?
It looks like one single point of contact within the company guiding clients and identifying who will best service them or even where they will be serviced best. With a spread of 24 locations across South-East Europe, the Baltics and Middle East, we are able to advise our clients which jurisdiction offers the most benefits for their specific case and guide them on how to take advantage of those benefits. One point of contact for the client means that the client knows who to contact every time, one person who is responsible for doing the legwork and contacting our experts across different countries to identify who can help where.
We’ve had cases in the past where a client came to us for one service and ended up being covered in another 6. This is where Eurofast’s size really shines; we’re big enough in numbers to service all our client’s needs but not big enough to lose personal contact with our clients.
And it’s precisely those accumulated moments of care and attention that build the kind of client relationships we’re most proud of, ones that have lasted, in many cases, well over two decades.
If you had to describe Eurofast’s culture in three words that aren’t on your website, what would they be?
Warm. Relentless. Collaborative.
Warm because the relationships inside this company, across all our offices, big or small, are real, people know each other, support each other and celebrate each other. We celebrate the human side of our numbers every way we can. One person’s win in Pristina is everyone’s win across our regions and we celebrate it that way as well.
Relentless because our standards are high and we don’t make excuses when we fall short of them. One of our mission statements which dates back to the foundation of Eurofast in 1978 was and continues to be the concept of going above and beyond for our clients. We don’t just satisfy what the client asks for; we predict what the client will need on top of that and offer the whole package instead of just providing the one service they requested.
Collaborative because although a lot of relationships within the group are spread over multiple continents and countries, we are still here for each other, both for our personal wins and challenges but also in creating synergies which benefit our clients.
After everything Eurofast has built, what still drives you personally?
The fact that what we do actually matters. When a company successfully enters a new market, creates jobs, and grows, something we’ve been making happen safely and efficiently for years now, that’s meaningful work. It’s as much a personal win as much as a groupwide one. For me, Eurofast isn’t just a name or a brand, it’s the people behind it and a multi-cultural family that spans 24 locations. So I’m driven by the aspiration to build the Eurofast legacy as much as I’m driven to ensure the Eurofast family’s wellbeing, because at the end of the day these two go hand in hand. I also won’t pretend the challenge doesn’t energize me. Leading an organization across these many markets, cultures, and disciplines is genuinely hard. And I find that I do my best work when the stakes are high.
Which experience in your professional journey has most shaped the way you lead today?
Honestly? Managing Debbie’s Cookies, an American-style bakery in Nicosia that we acquired back in 2014. And yes, I fully appreciate how that sounds in a Forbes interview. Bear with me.
We built the entire operation from scratch; a new workshop, a production line, multiple shops in Nicosia and Athens, and ran it for the better part of a decade. I was 24 years old, stepping into a male-dominated industry, and had to figure out pretty much everything on the go: how to lead a team, set up a production line, handle difficult clients, figure out how to do product costing and even bookkeeping, and how to put a brand on the map, both literally and figuratively. And let’s be clear; getting taken seriously in that environment, at that age, as a woman, was not exactly straightforward. Cyprus in 2014 was a particular kind of challenge in that respect. You had to earn your seat at the table and then earn it again the next day.
But that experience shaped me more profoundly than any business school ever could have. I learned to rely on people, to be let down by people, to pick myself up and find solutions to problems that looked completely unsolvable. I learned that leadership isn’t necessarily about having all the answers, it’s about staying calm enough to find them, and in most cases, think outside the box! And perhaps most importantly, I learned when it’s time let go. Of control, of perfectionism, of the idea that you can do it all alone. That last lesson took the longest and I’m still practicing it today.
Eurofast, of course, has been its own extraordinary learning curve; a fast-paced, multicultural environment with high expectations and equally great rewards. Every single day still teaches me something new. But Debbie’s? That’s where the foundations were laid. You never forget your first kitchen (pun very much intended!).
What advice would you give to young professionals who are starting their careers in the business world today?
Work hard, be bold, and always go the extra mile – never stop listening and learning. Challenges are always a part of our journey; if anything, they shape us. Stay dedicated, back yourself, and you’ll find your way to where you’re meant to be. Age is irrelevant. We’re all students, every single day.
Eurofast is your regional business advisor with presence in 24 cities across Southeast Europe, the Middle East, and the Baltics., offering Advisory & Corporate, Accounting & Compliance, Tax & Legal, and Payroll & Employment.