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BusinessCyprus

BoC appoints new board member, next chairman

Bank of Cyprus announced on Tuesday the appointment of Takis Arapoglou to the board of directors with a view of him taking over as chairman after the departure of Josef Ackermann.

The appointment is subject to the approval of the European Central Bank.

Arapoglou, a Greek national, is a financial expert and consultant with extensive experience in international capital markets and in corporate, commercial and investment banking in South East Europe, the UK, the Middle East and Africa.

He has served as Chairman and CEO of the National Bank of Greece Group, Chairman of the Hellenic Banks Association, Member of the Board of Eurobank, and has held senior management positions with Citibank and Chase Manhattan in the UK and with American Express in Greece.

Currently, Arapoglou is Chairman of the Board of Titan Cement, an international cement company listed on the Athens Exchange and of Tsakos Energy Navigation, a shipping company listed on the New York Stock Exchange.

He holds an MSc in Finance and Management from the University of Brunel, London, a BSc in Naval Architecture and Ocean Engineering from the University of Glasgow and a BA in Mathematics and Physics from the University of Athens.

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