ECONOMY

Greece appoints new board to hyperfund

greece-appoints-new-board-to-hyperfund

Greece has appointed a new and larger board of directors to its privatization agency to prepare investment projects under a post-pandemic recovery scheme along with keeping the state assets sale program on track, its sovereign wealth fund HCAP said on Wednesday.

The Hellenic Corporation of Assets and Participations (HCAP), which supervises the Hellenic Republic Asset Development Fund (TAIPED), said that Dimitris Politis will be the new chief executive of a new, six-member board, replacing Riccardo Lambiris.

Politis, who has worked in the banking sector and has experience in attracting investments, will take over in August and oversee a new unit at TAIPED which will prepare key investment projects, HCAP said in a statement.

Athens has raised over 7 billion euros from state asset sales since TAIPED was set up in 2011 at the start of Greece’s decade-long financial crisis to help the eurozone’s most indebted country carry out an ambitious privatization scheme. [Reuters]