ECONOMY

Christos Megalou picked to take Eurobank helm

Greece’s bank rescue fund picked a former Credit Suisse investment banker to run Eurobank on Thursday, aiming to reprivatize the country’s fourth-largest lender and recoup funds it injected to plug its capital hole.

Eurobank was the only one of Greece’s four major lenders to fall under the full control of the Hellenic Financial Stability Fund (HFSF), a rescue vehicle financed from Greece’s EU-IMF bailout package, after it was recapitalized.

At the annual shareholders meeting, HFSF named Christos Megalou to take over from Nick Nanopoulos as chief executive and businessman George David, a major shareholder in bottler Coca-Cola HBC (CCHBC), as the new board chairman for a three-year term.

[Reuters]