Ex-Hellenic chair joins RCB Cyprus board

Irena Georgiadou, the former chairperson of Hellenic Bank, has joined the board of RCB Bank, following changes at the Limassol-based bank, including the announcement last week of its shareholding restructure.

Georgiadou, 46, served as chair of the island’s second-biggest lender from 2014 to 2017 and steered it through a rigorous restructuring plan that absorbed the ‘good bank’ operations of the now-defunct Cyprus Cooperative Central Bank.

Earlier, she was Commissioner for the Reform of the Civil Service and was considered a close advisor to former Finance Minister Harris Georgiades until her appointment at Hellenic.

She later held various executive posts in several private companies and served on non-profit organisations and charities.

Georgiadou’s appointment to the RCB board was announced on Monday, “further to the regulators’ approval in both Nicosia and Frankfurt,” the bank said.

Last week, RCB announced a change in its shareholding structure, as major stakeholders VTB Bank sold a 46.29% stake to shield its assets from UK sanctions following Russia’s invasion of Ukraine.

VTB’s share capital in Cyprus RCB has been sold to Cypriot shareholders who represent the management. As a result, the bank is now Cyprus-owned.