Eurobank Cyprus on Thursday announced the appointment of Andreas Petsas as its new Chief Executive Officer (CEO), following a decision by the bank’s board of directors.
According to the announcement, the appointment was finalised during a meeting held on September 17, 2024, in Nicosia.
Petsas, who has been with Eurobank Cyprus since 2007, most recently served as Senior General Manager.
The bank said that Petsas brings a wealth of experience to the role, having started his career in banking in 1997 at Laiki Bank, where he held various senior positions in Corporate Banking.
He also served as Deputy General Manager and member of the Executive Council of Laiki Bank Serbia from 2006 to 2007, before joining Eurobank Cyprus as General Manager of Corporate Banking.
In terms of academic background, Petsas holds a BSc in Business, Finance, and Economics from the University of East Anglia and an MSc in Accounting and Finance from the London School of Economics (LSE).
He is also listed in the Cyprus Securities and Exchange Commission’s Public Register of Certified Persons.
Petsas succeeds Michalis Louis, who had been Eurobank Cyprus’ CEO since the bank’s establishment in 2007.
The bank’s board of directors stated that it would like to thank Louis “for his important contribution throughout the years, both in the bank’s establishment and growth, as well as, for its recognition as one of the country’s leading financial institutions”.
The board also congratulated Petsas “for taking over as the bank’s CEO, wishing him every success in his new role and expressing its confidence that the bank will continue its successful record”.
At the same time, Hellenic Bank announced the appointment of Michalis Louis, the former Eurobank Cyprus CEO, as its new Chief Executive Officer (CEO).
This follows a relevant approval of the appointment by the bank’s board of directors at its annual general meeting of shareholders on September 18.
“Louis takes over the leadership of Hellenic Bank, which recently became a subsidiary of Eurobank Holdings,” a bank announcement said.
In addition to his new role as CEO of Hellenic Bank, Louis will continue to serve as a member of the executive board of Eurobank, another subsidiary of Eurobank Holdings.
The executive board of Eurobank is responsible for implementing the group’s strategy, as designed by the bank’s strategic planning committee and approved by the boards of both Eurobank Holdings and Eurobank.
Antonis Rouvas, who had been serving as the interim chief executive officer of the Bank since August 1, 2023, has resumed his duties as chief financial officer.
Furthermore, Maria Keleshi, who had been the interim chief financial officer, will continue in her role as chief accountant of the bank.
As for non-executive positions, Oliver Bernard Ellingham, Robert Anastassis Kyprianou, Charalambos Constantinou, Maria Charalambous, Sofronis Clerides, and Kenneth Howard Prince-Wright were elected, while Stephen Joh Albutt was re-elected.
Petros Christodoulou remains in the position of chairman, with Antonis Rouvas as the second executive member and Miranda Xafa continuing as a non-executive member.
At the bank’s annual general meeting, group chairman Petros Christodoulou highlighted the ongoing transformation of the bank, referencing recent landmark events.
“With the acquisition of the majority shareholding by Eurobank, Hellenic Bank has received a substantial vote of confidence and secured a promising future with new prospects and opportunities,” he said.
“Eurobank, now our primary shareholder with an increased stake, marks our transition as part of a financial giant in Southeast Europe, with assets exceeding €80 billion,” he added.
