Hellenic Bank announced that CEO Ioannis Matsis has stepped down after three years in the job at the second largest Cyprus lender and that his employment agreement “has been mutually agreed to be terminated with immediate effect.”
The bank said in a statement issued on the Cyprus Stock Exchange on Tuesday that it will commence the process to fill the position of the Chief Executive Officer, with Phivos Stasopoulos, General Manager of the Business Division, stepping in as interim CEO.
The bank said that Matsis has also resigned as executive member of the board of directors, a position he has held since December 2013.
Initial reports suggested that former career banker Constantinos Loizides would be returning to Hellenic Bank as its new chief executive after 15 years, following Matsis’ unexpected resignation on August 26.
Loizides would return to Hellenic having led AstroBank as its chairman for several years and CEO since April 2019.