Marfin Popular appoints ex-finmin Sarris as new chairman

Cyprus-based lender Marfin Popular Bank has appointed former finance minister Michael Sarris as non-executive chairman with effect from January 1, it said on Monday.
Sarris, a former senior economist at the World Bank, is to replace Constantinos Mylonas, appointed in the wake of the departure of non executive chairman Andreas Vgenopoulos in early November after five years at the helm.
Christos Stylianides also replaced Efthymios Bouloutas who resigned as CEO last week.
The bank is the heaviest exposed among Cypriot commercial banks to Greek debt and needs to raise 1.97 bln euros ($2.6 bln) in additional capital by next June to meet regulators' capital buffer requirements.
Chris Pavlou, a former chief treasurer at HSBC, has also been appointed to the board, Marfin Popular said.
The bank said it would call an extraordinary shareholders' meeting for February 8 to discuss recapitalisation issues of the bank. Greek investment group MIG, a shareholder in the bank, had sought the meeting to elect a new board of directors.