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Financial Mirror (Cyprus) - - FRONT PAGE -

Mar­ios Clerides, a well re­spected banker and econ­o­mist and for­mer chair­man of the Cyprus Se­cu­ri­ties and Ex­change Com­mis­sion was ap­pointed the new chief ex­ec­u­tive of­fi­cer of the na­tion­alised Co­op­er­a­tive Cen­tral Bank in De­cem­ber 2013.

The is­land’s Co­op­er­a­tive banks are now 99%-owned by the state fol­low­ing a 1.5 bln euro cap­i­tal in­jec­tion as part of the 10 bln bailout for Cyprus agreed with the Troika of in­ter­na­tional lenders (EC, ECB and the IMF). Clerides, 62, un­til then Group Se­nior Gen­eral Manager, Risk Man­age­ment & Strat­egy of the Hel­lenic Bank, joined the is­land’s sec­ond big­gest lender 31 years ear­lier in charge of plan­ning and eco­nomic re­search. He was in­volved in var­i­ous projects such as the in­tro­duc­tion of ATMs in the bank, fea­si­bil­ity stud­ies for the estab­lish­ment of group sub­sidiary com­pa­nies as well as in cap­i­tal and bond is­sues of the bank.

In July 2001, he left Hel­lenic Bank to be­come chair­man of the Se­cu­ri­ties and Ex­change Com­mis­sion (CySEC) on a five-year con­tract and re­turned to the bank as Group Gen­eral Manager, Risk Man­age­ment. There­after he also as­sumed re­spon­si­bil­ity for Group Strate­gic Devel­op­ment, Eco­nomic Stud­ies and Cor­po­rate Gov­er­nance & Com­pli­ance.

At the same time he was teach­ing part-time at the Uni­ver­sity of Cyprus where he served on the coun­cil for the Cen­tre for Eco­nomic Re­search and was Chair­man of the Cyprus Bank­ing As­so­ci­a­tion. In April 2013, he was ap­pointed to the Na­tional Coun­cil for the Econ­omy, headed by eco­nomics No­bel lau­re­ate Dr Christo­foros Pis­sarides that ad­vises the Pres­i­dent of Cyprus on econ­omy is­sues and fu­ture pol­icy.

Mar­ios Clerides stud­ied Eco­nomics (B.Sc. / M.Sc.) at the Lon­don School of Eco­nomics and in 1982 he was awarded the Doc­tor­ate of Phi­los­o­phy from the same Uni­ver­sity (Ph.D. in Labour Eco­nomics).

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