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Piraeus Bank SA named Christos Megalou as CEO March 8, ending a grueling 14-month search for a top executive who complies with the stringent requirements for the heads of Greek banks.
In the wake of the financial crisis, Greece implemented some of the world's strictest requirements for the selection of top bank executives, including at least 10 years of experience in international banking and an additional three years spent on the board of a financial institution.
Prior to joining Greece's biggest bank by assets, Megalou served as CEO of rival Eurobank Ergasias SA for two years until 2015, after which he worked for Canada's Fairfax Financial Holdings Ltd. He was previously an investment banker with Credit Suisse Group AG.
"Megalou's extensive international career, combined with leadership experience in restructuring within the Greek banking sector, will be of significant value in his role as CEO of Piraeus Bank," Euroxx Securities analyst Yiannis Sinapis said.
"Megalou is a seasoned banker," Wood & Co. analyst Alex Boulougouris agreed. "We...