The Association of Cyprus Banks (ACB) on Thursday announced that Panicos Nicolaou, chief executive officer at the Bank of Cyprus, has been appointed as its new president following the most recent meeting of board of directors. Meanwhile Marios Skandalis appointed as new Director General.
The Cyprus Bankers Association announced that during its most recent board meeting, Panicos Nicolaou, CEO of the Bank of Cyprus, was elected as the Association’s new President. Dimitris Siakallis, Chief Financial Officer at Eurobank, will serve as Vice President.
According to the Association’s statutes, both the President and Vice President serve a two-year term. The leadership reshuffle follows the departure of former President Aristides Vourakis, who has taken on new professional responsibilities.
The Association expressed its gratitude to Vourakis for his contribution and wished him success in his future career steps. It also extended best wishes to the new leadership for a productive term representing and strengthening Cyprus’ banking sector.
Marios Skandalis, Director of Compliance at the Bank of Cyprus and President of the Cyprus Integrity Forum (CIF), has been selected as the new Director General of the Cyprus Bankers Association. An official announcement is expected in the coming days.
Skandalis will take over from Michalis Kammas, who will retire at the end of the year. In his address at the Association’s annual general meeting in June, Kammas -concluding a decades-long career within the organization- underlined that Cyprus’ banking sector remains on a steady course, serving the vital triad of economic growth, financial stability, and social cohesion, despite the challenges of the times.