Hellenic Financial Stability Fund management to be replaced

The executive committee of the Hellenic Financial Stability Fund, which is currently under review, is reportedly going to be replaced. The committee handling the FSF review will be presenting its findings early next week.

Banking sources have revealed that the review committee has ‘rejected’ CEO Ares Xenofos and FSF members Giorgos Koutsos and Tasos Gagalis. Should these rumors be confirmed, they are expected to resign immediately, with the successors likely to be fm the overseas banking sector.

The rumors emerged after the Single Supervisory Mechanism (SSM) rejected the appointment of Cypriot Christos Papadopoulos as CEO of Piraeus Bank, who had already been approved by the FSF.

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