FINANCE: Cyprus appoints new central bank governor

Former investment banker Constantinos Herodotou was appointed Governor of the Cyprus Central Bank on Thursday and takes up his position on April 11, an official statement said.

Cypriot President Nicos Anastasiades appointed him to succeed outgoing incumbent Chrystalla Georghadji whose five-year term ends next month.

Herodotou is said to have “wide experience in positions of high responsibility” in the banking and financial sector overseas, a graduate of University College London and served as the central bank's executive board member since March 2017.

He has advised governments as well as private companies on major financial transactions and strategy, totalling an approximate value of over €50 billion.

Herodotou joined London’s UBS Investment Bank in 2001, where he worked for almost all of his investment banking career and rose through the ranks to become head of shipping and simultaneously headed infrastructure & concessions.

The president expressed his sincere thanks to the outgoing governor for her “cooperation and service she offered in critical times for the country's economy”.

Georghadji, appointed in 2014, was governor as Cyprus navigated a painful 10-billion-euro bailout from international lenders to save its debt-ridden banks and the economy from meltdown in 2013.