THURSDAY, 26 NOV 2020

 

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Ioannis Matsis Resigns from Hellenic Bank

Ioannis Matsis Resigns from Hellenic Bank

Hellenic Bank CEO Ioannis Matsis has resigned 40 months after being at the helm of the island’s second-largest lender, a surprise decision that had immediate effect. No explanation has been provided so far.

Matsis had been appointed as a member of the board of directors in December 2013. He was the chairman of the risk management committee and a member of the nominations/internal governance committee of the board. He was appointed executive member of the board of directors and CEO of the group on April 24, 2017.

According to media reports, he will be replaced by Constantinos Loizides, the current CEO of AstroBank.

Loizides, who also headed Cyprus Airways, has been leading AstroBank as its chairman and CEO since April 2019.

He joined the Greek-owned Piraeus Bank in 2007, which had earlier taken over the operations of Arab Bank in Cyprus.

Loizides established Piraeus Bank Cyprus as a wholly-owned subsidiary and was instrumental in the restructuring of Piraeus’ other assets in neighbouring countries, including Egypt.

The bank was taken over by Lebanese investors, headed by financier Maurice Sehnaoui, with Piraeus Bank SA retaining a 10% stake.

 

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