In a move signaling a fresh start for Attica Bank, its principal shareholder, Thrivest Holding, has proposed Constantinos Herodotou — the former Governor of the Central Bank of Cyprus — as the new Chairman of the Board of Directors. The bank is expected to finalize the appointment in mid-April, shortly after Herodotou’s one-year post-governorship restriction set by the European Central Bank (ECB) expires.

Under ECB guidelines, eurozone central bank governors must observe a 12-month “cooling-off” period before joining private financial institutions. Herodotou’s term as Cyprus’s central banker ended in early 2024, making him eligible to assume his duties at Attica Bank in mid-April.

Herodotou served as Governor of the Central Bank of Cyprus from 2019 until 2024 and was also a member of the ECB’s General Council. His tenure coincided with key reforms in Cyprus’s financial system, including efforts to address non-performing loans and to strengthen the resilience of local banks. Prior to his governorship, Herodotou held senior positions in international finance. He worked for several years at UBS Investment Bank in London and served as Cyprus’s Commissioner of Privatizations, where he oversaw strategies to attract foreign investment and optimize state-owned assets.

Known for funding small and medium-sized enterprises, as well as providing a range of banking, investment, and insurance products, Attica Bank aims to raise its profile both domestically and abroad. The leadership shift is expected to advance the bank’s corporate governance, capitalize on Herodotou’s regulatory insight, and facilitate stronger connections with European supervisory bodies.

Analysts in Greece suggest that installing a former central banker at the helm will boost Attica Bank’s standing in the marketplace. Herodotou’s first-hand knowledge of ECB policies and supervisory frameworks could reinforce the bank’s transparency and foster renewed confidence among stakeholders.