Vasilios Psaltis to take over as new Chief Executive Officer of Alpha Bank

Alpha Bank announced that Vassilios Psaltis, current Chief Financial Officer and managing director of the bank, will take over as new Chief Executive Officer after the departure of Dimitrios Mantzounis.

The bank said the new CEO will take over his post from January 2, 2019.

The new CEO, with a 20-year experience in executive positions in banks in Greece and abroad, will lead the bank together with the rest of the management team and Alpha Bank’s human resources to the next day of the Greek banking system, after completion of the adjustment programmes and the exit from the 10-year crisis which had severe impact on the domestic banking system.

Acccording to Financial Times, the 50-year-old banker is the first manager in the 160-year history of Alpha Bank who is not related to the founding Kostopoulos family.

“We expect it will lead to an improvement in the professionalism of the entire Alpha Bank Group,” said a Greek banker at FT.

Finacial Times recalls that Alpha has announced two sales of non-performing loans as part of the effort to meet the new non-performing loans reduction targets set by ECB.

A consortium formed by Apollo Global Management Group and International Finance Corporation, as well as the World Bank Investment Banking Group, has agreed to pay 337 million euros for a package of small and medium-sized loans of 1 billion. In a separate agreement, Sweden’s Hoist Finance has agreed to pay 76 million euros for a portfolio of unsecured retail loans of 2.1 billion.