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BoC board member resigns

Fines totalling €460,000 were imposed on six former senior BoCY officials

Bank of Cyprus (BoC) on Wednesday announced the resignation of Igor Lojevsky from the lender’s board of directors.

Lojevsky submitted his resignation on Tuesday and it was accepted by the board, BoC said in a statement.

The statement did not give a reason for the resignation though one report linked it to Lojevsky’s obligations towards another bank.

Lojevsky is a Vice Chairman of Deutsche Bank AG for Eastern Europe for Asset & Wealth Management and Corporate Banking & Securities Divisions.

It was the second resignation this month, following that of Costas Hadjipapas on October 10.

Hadjipapas resigned after he was fined €10,000 by the securities and exchange commission for not doing his job properly, as a member of the lender’s risk management committee, in connection with bank’s Greek debt holdings in 2010.

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