The Central Bank of Cyprus, acting as the Resolution Authority and following a decision of the Board of Directors of the Bank of Cyprus and after consultations with the Ministry of Finance, announces the appointment of Mr Christos Sorotos as the interim CEO of the Bank of Cyprus.
The appointment of Mr Sorotos will be effective from tomorrow, Wednesday, 29 May 2013.
Mr Sorotos was born in 1952 and is a graduate of the University of Athens. He has over 34 years experience in banking, including the management of non-performing loans and the restructuring of operations in Greece, London, the US, Bulgaria and Romania. He previously served as Deputy Governor of the National Bank of Greece where he was responsible for the management of non-performing loans and the creation of a "bad bank", therefore contributing to the restructuring of the bank and its exit from the crisis.
He also served as Country Corporate Officer for Greece and Cyprus at CITIBank, as well as General Manager of Eurobank in Greece. Mr Sorotos is currently based in London where he deals with corporate restructuring issues.