Greece names new head for bank recapitalization fund

Greece has appointed banker Anastasia Sakellariou to run the fund in charge of recapitalizing its battered banks, the finance ministry said on Wednesday.

Sakellariou, who had previously worked as chief risk officer at troubled state lender Postbank and at Credit Suisse Group AG, takes over from Panagiotis Thomopoulos on Feb. 1.

She becomes CEO of the Hellenic Financial Stability Fund’s executive committee that will run the fund, while Paul Koster was named the president of the fund’s general council, which is expected to have a more supervisory role.

The ministry did not provide further details.

Greece’s European Union and IMF lenders – who are providing the money to recapitalize the banks as part of the country’s second bailout program – approved the new executives, a finance ministry official told Reuters.

The new appointments and change in the structure of the fund – which previously was run by a single board – had been previously agreed with the country’s lenders, the official said.


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