Dr. Ioannou was born in Limassol in 1958. He studied political economics at the University of West Berlin and was a lecturer at the Institute of Sociology at Free University Berlin. He holds a Ph.D and from 1984 to 1990 he worked at Dresdner Bank AG in Germany. He then worked at the Bank of Cyprus until 2006. He is currently General Manager of the Limassol Co-operative Savings Bank. Additionally, he is involved in writing books and theatrical plays.