Newly Appointed Bank of Cyprus CEO Determined to Put Best Foot Forward

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Bank of Cyprus Chairman Josef Ackermann has stepped down as CEO; with newly appointed John Patrick Hourcian taking the departed place. He made a speech stating that the change in leadership at the bank would not slow the lenders momentum in the coming months.

Last week, the bank declared a €95m net profit generation in the first quarter of 2019 on tax legislation adjustments and amendments to the sale of NPLs.

Mr Ackermann stated that the bank has the right strategy; a skilled senior management team; an experienced board and effective governance structures to put BoC ahead for the coming financial years ahead.