Bank appoints new CEO

The bank was at the center of international attention in 2013 when it became to first lender in the world to be recapitalized by “bail-in”, the seizing of depositors’ money to recapitalize.

THE Bank of Cyprus (BoC) has appointed a new CEO to succeed Irish banker John Patrick Hourigan, the man who led it from rags to recovery.

The statement said the new chief of the lender will be Panicos Nicolaou, who will take up his duties after his appointment is approved by the European Central Bank (ECB)

A CV released by BoC said Nicolaou, with financial services qualifications from two universities and a BSc in Mechanical Engineering, joined the lender in 2001 and his career has been mostly within the corporate banking division.