Bank of Cyprus Holdings PLC Appointment of Group Chief Executive Officer (8736Y)
13 Mayo 2019 - 10:42AM
UK Regulatory
TIDMBOCH
RNS Number : 8736Y
Bank of Cyprus Holdings PLC
13 May 2019
Announcement
Appointment of Group Chief Executive Officer
Nicosia, 13 May 2019
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014.
Bank of Cyprus Holdings Public Limited Company ("BOC Holdings"
and, together with its subsidiaries, the "Group") and Bank of
Cyprus Public Company Limited (the "Bank") at their corresponding
Board of Directors' meetings held today, 13 May 2019, decided to
appoint Mr. Panicos Nicolaou as Group Chief Executive Officer to
succeed Mr John Patrick Hourican, subject to approval by the
European Central Bank ("ECB"). Mr Nicolaou will formally take up
his duties once his appointment is approved by the ECB. Mr
Nicolaou, once approved by the ECB, will also join both Boards as
an Executive Board Member.
Mr Nicolaou joined the Bank in 2001 and his career has been
mostly within the Corporate Banking Division starting as a
Corporate Relationship Officer, with a brief assignment as Manager
of the Corporate Department of the Restructuring and Recovery
Division. He was promoted to the position of Director of the
Corporate Banking Division in June 2016 and has been an Executive
Committee member since that time.
Mr Nicolaou has been responsible for managing the Corporate
Banking Centres throughout Cyprus, the International Corporate
Banking Centre and International Operations, as well as the Bank's
Factoring Unit. Under his supervision, Corporate Banking serves
over 2,500 corporate clients across key sectors of the economy.
Mr Nicolaou holds a BSc in Financial Services from the
University of Manchester Institute of Science and Technology
(UMIST) School of Management, UK, a BSc in Mechanical Engineering
from National Technical University of Athens (Metsovio), Greece and
an MSc in Mechanical & Industrial Engineering from University
of Illinois at Urbana-Champaign, USA. He is also an Associate
Member of the UK Chartered Institute of Bankers since 2004.
The Boards would like to extend their warm congratulations to Mr
Nicolaou and to wish him all the best in his new and more demanding
duties. In the months ahead Mr Nicolaou as CEO-designate will work
closely with Mr Hourican to help ensure a smooth transition.
Commenting on Mr Nicolaou's appointment, the Chairman Dr. Josef
Ackermann said: "After a thorough international search process, I
am delighted that Panicos has emerged from a strong field as our
choice to lead the Group in its next chapter. Panicos comes from
the Bank of Cyprus family, with a long and successful career and
notable contributions in strengthening business relationships with
our major corporate clients. My Board colleagues and I are fully
confident that the Bank of Cyprus will remain in good hands with
Panicos at the helm."
Group Profile
The Bank of Cyprus Group is the leading banking and financial
services group in Cyprus, providing a wide range of financial
products and services which include retail and commercial banking,
finance, factoring, investment banking, brokerage, fund management,
private banking, life and general insurance. The Bank of Cyprus
Group operates through a total of 108 branches in Cyprus. Bank of
Cyprus also has representative offices in Russia, Ukraine and
China. The Bank of Cyprus Group employs 4,156 staff worldwide. At
31 March 2019, the Group's Total Assets amounted to EUR21.7 bn and
Total Equity was EUR2.5 bn. The Bank of Cyprus Group comprises Bank
of Cyprus Holdings Public Limited Company, its subsidiary Bank of
Cyprus Public Company Limited and its subsidiaries.
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END
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