HFSF chal­lenges NBG ap­point­ment

Kathimerini English - - Focus - YIAN­NIS PAPADOYIANNIS

There seem­sto be no end to the ad­min­is­tra­tion cri­sis at Na­tional Bank of Greece, as im­me­di­ately after Panayi­o­tis Tho­mopou­los was elected the group’s new pres­i­dent yes­ter­day, the Hel­lenic Fi­nan­cial Sta­bil­ity Fund, NBG’s main stake­holder, stated it had voted against him and is ex­am­in­ing the op­tion of call­ing an ex­tra­or­di­nary gen­eral meet­ing.

Sources tell Kathimerini that the HFSF in­tends to meet again in the com­ing days to de­cide on its next moves. If the bank bailout fund in­sists on call­ing an gen­eral meet­ing, this will con­cern more ex­ten­sive changes to the bank’s gov­ern­ing board.

The NBG board voted to ap- point the for­mer Bank of Greece deputy gover­nor as the suc­ces­sor of Louka Kat­seli, who re­signed last week, by 12 votes to one. De­spite the HFSF’s dis­agree­ment, both new pres­i­dent Thom­pou­los and chief ex­ec­u­tive of­fi­cer Leonidas Fragki­adakis spoke of the need to strengthen co­op­er­a­tion with the fund.

The HFSF stated later on that, “in ac­cor­dance with the de­ci­sion of its Gen­eral Coun­cil, the Fund is ex­am­in­ing the pos­si­bil­ity of con­vok­ing an Ex­tra­or­di­nary Gen­eral Meet­ing, tak­ing into ac­count that the smooth co­op­er­a­tion be­tween the board of the bank and its main share­holder is cru­cial.”

Panayi­o­tis Tho­mopou­los, the Na­tional Bank board’s choice for its next pres­i­dent.

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