NICOSIA - Chris Sorotos has been appointed interim Managing Director of the Bank of Cyprus.
The Central Bank of Cyprus, acting as resolution authority, following a decision of the Board of Directors of the Bank and after consulting the Ministry of Finance, announced the appointment Tuesday.
The appointment will be effective from Wednesday, May 29.
Sorotos born in 1952 and is a graduate of the University of Athens. He has 34 years experience in banking, including the management of non-performing loans and restructuring operations in Greece, London, the United States, Bulgaria, Romania and elsewhere.
He previously served as Deputy Governor of the National Bank of Greece and was responsible for the management of non-performing loans and the creation of a "bad bank" contributing to the restructuring of the bank and the exit from the crisis.
He also served as Country Corporate Officer of CITIBank for Greece and Cyprus as well as being General Manager of Eurobank in Greece. Presently Sorotos is based in London where he deals with issues of corporate restructuring.