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Cyprus

Cleovoulos Alexandrou appointed as new Laiki administator

The Central Bank of Cyprus said that the Resolution Authority appointed Cleovoulos Alexandrou as special administrator of the defunct Cyprus Popular Bank in succession of Chris Pavlou.

“Alexandrou served for a long time alongside Pavlou at the administrator’s office as second in command,” the central bank said in an emailed statement on Friday.

Pavlou, whose term expires on December 31, had earlier this week announced his decision not to extend his contract at Laiki, as the bank was also known, and continue his task of disposing the lender’s assets, which include Laiki’s units in Greece Malta and a 9.6 per cent stake in Bank of Cyprus.

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