Banc Post management reform

Banc Post’s vice-president Ioannis Pechlivanidis will handle the executive management of the bank, following a shareholder decision on separating the executive from administrative positions to be made on April 29. Shareholder sources say the bank will be run by the chief executive officer and by the deputy chief executive officer. The chairman of the Board of Directors, Elena Petculescu will no longer have executive duties. Petculescu will retain her current position, though. Pechlivanidis was appointed vice-president by the majority shareholder, Greek EFG Eurobank Ergasias, which owns 53.25% in Banc Post. The principal shareholder will also appoint a new member of the Board, to replace vice-president Niculae Dumitrache who resigned. The Greeks at Eurobank started to take over Banc Post little by little in 2000, when they first bought 26.25% in Banc Post from GE Capital, and then the interest of Banco Portugues de Investimento (BPI). ZF