Michalis Athanasiou has extensive local and international experience including the disposal of two foreign banking subsidiaries and extensive restructuring and deleverage expertise under distressed conditions. In an effort to strengthen the balance sheet of Bank of Cyprus, he was also a key participant in the team that successfully completed the major milestone of raising €1 bln of fresh equity for the BOC Group.
Michalis has started his career at Cyprus Popular Bank Group (CPB) in September 1995 at the treasury department, where he rose through the ranks of the department and was promoted to Treasurer of Cyprus Popular Bank Ltd in 2003. During this time as Treasurer, among other things, he had set up the group’s first EMTN program that delivered some of the biggest issues out of Cyprus at the time.
In June 2006 until the beginning of 2011 he was seconded to Laiki Bank Australia (Ltd), a former subsidiary of the CPB Group, as its Chief Executive Officer. After a successful tenor of almost 5 years overseeing the growth in Balance sheet size and profitability of the subsidiary, he was instrumental in the successful disposal of the subsidiary. He later served as a member of its Board of Directors post the sale for 3 years.
On his return to Cyprus he was appointed as Director of International Operations being responsible for the subsidiaries of the Group in Romania, Serbia and Estonia. He was a key participant in the successful disposal of the Estonian subsidiary that was eventually completed in March 2012.
In January 2012 he was promoted to Group Chief Risk Officer and was reappointed to the same position in November 2013 when joined the Bank of Cyprus (BOC) Group following the resolution measures of March 2013.
Michalis chairs/ is a member of a number of Group Committees. He is also a Board member of the CLR investment Fund PLC and LCP Holdings & Investments Public Company, both BOC subsidiaries.
He holds a Bachelor’s Degree with Honors in Accounting and Finance from the University of North London and an M.Sc with Distinction from the University of Reading in International Securities, Investment and Banking.