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Piraeus Bank CEO appointment issue postponed to Fri.; ESM intervenes in process

By A. Doga

Decisions regarding appointments for Athens-based systemic lender Piraeus Bank’s top management have been bumped to Friday. 

On Wednesday afternoon a board of directors meeting was interrupted so that the Hellenic Financial Stability Fund (HFSF) could be briefed by its representative on the board over the latest developments.

The European Stability Mechanism (ESM) had previously sent a letter requesting an indefinite postponement of the appointments, without however, providing its reasoning. 

According to reports, a “compromise” candidate for the post of Piraeus Bank CEO may be sought, in order to achieve a consensus by all the parties represented on the board.

Earlier reports had pointed to Christos Papadopoulos and Anthimos Thomopoulos as the leading candidates.

Regardless, the HFSF’s general council will convene on Thursday in an extraordinary session to examine the Piraeus Bank issue.