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The Board of Directors of National Bank of Greece is composed of eminent members of the international business community and society. 

Under the provisions of the relevant legislation and the Bank's Articles of Association, the Directors are elected by the Bank's General Meeting of Shareholders for a maximum term of 3 years, and can be re-elected.

On November 9, 2016 the Board of Directors convened and decided on its constitution into a body as follows:

The Chair (non-executive) of the Board of NBG is Mr. Panayotis – Aristidis Thomopoulos, Vice Chair of the Board of NBG is Mr. Petros Sabatacakis, independent non-executive Board member, the Bank's Chief Executive Officer is Mr. Leonidas Fragkiadakis and the Bank's Deputy Chief Executive Officers are Mr. Dimitrios Dimopoulos and Mr. Paul Mylonas. Secretary of the Bank's Board of Directors and of its Committees is Mr. Panagiotis Dasmanoglou, General Manager of Group Compliance and Corporate Governance.

10 out of 13 Directors are non-executive.

The Board's composition is presented in detail below.

Furthermore, it is noted that:

On 27.12.2016, by decision of the Bank's Board of Directors, Ms Eva Cederbalk was elected as new non-executive member of the BoD, in replacement of resigning non-executive member Mr. Efthymios Katsikas.

At the meeting of the Board of Directors held on 2.11.2016, the Chair of the Board of NBG Mrs. Louka Katseli, as well as the independent non-executive members Mr. Dimitrios Afendoulis and Mr. Spyridon Theodoropoulos submitted their resignation. By decision of the Bank's Board of Directors during its session taking place on 2.11.2016, the Board elected Mr. Panayotis – Aristidis Thomopoulos, Mr. Claude Piret and Mr. Spyros Lorentziadis as non-executive Board members, in replacement of the members who submitted their resignation.

On 22.7.2016 the securities issued by NBG under Hellenic Republic guarantees, as per article 2 of Law 3723/2008, were fully paid up and written off. Accordingly, following the definitive expiry of these guarantees, NBG is no longer subject to the provisions of Law 3723/2008 and the representation of the Hellenic Republic on NBG's Board of Directors has been ceased.

Following relevant notification from the Hellenic Financial Stability Fund (HFSF) and the Bank's Board of Directors session held on 19.7.2016, Mr. Panagiotis Leftheris was appointed as the new Representative of the HFSF on the BoD of the Bank, pursuant to Article 10 of Law 3864/2010 as in force and the Relationship Framework Agreement between the Bank and the HFSF, in replacement of Mr. Charalampos Makkas who submitted his resignation.

The Board of Directors of the National Bank of Greece S.A., at its meeting held on 29.06.2016 and following the resignation of Mr. Kurt Geiger from independent non-executive member, elected Mrs. Marianne Økland as independent non-executive member, filling in vacant independent non-executive member's position, in accordance with Article 18, Par. 3 of the Bank's Articles of Association

The Board of Directors of the National Bank of Greece S.A., during its session held on 26.5.2016 and following proposal by the Corporate Governance and Nominations Committee, elected Mr. Kurt Geiger and Mr. Mike Aynsley as independent non-executive members, filling in vacant independent non-executive members' positions, in accordance with Article 18, Par. 3 of the Bank's Articles of Association and the current corporate governance framework.

At the meeting of the Board of Directors held on 26.1.2016 Mr. Andreas Boumis, submitted his resignation.

In 2015, the Board convened 27 times.

In 2015, the Board's Committees convened a total of 44 times.

The Board members are as follows:

 

 

 

 

 

Chair of the Board (Non Executive)

Panayotis (Takis) - Aristidis   Thomopoulos

Tenure Start Date:09/11/2016
Tenure End Date:
Nationality:Greek
Year of birth:
Member In Companies:No
CV

​Mr. Panayiotis-Aristidis Thomopoulos has significant experience of 40 years in the financial sector and deep knowledge of European banking regulatory framework, having served, among others, for a number of years, as Deputy Governor of the Bank of Greece, Chair of Eurobank, independent non-executive member of the Board of the National Bank as well as Executive Chairman of the Hellenic Financial Stability Fund.

 

Vice Chair of the Board (Independent Non Executive)

Petros   Sabatacakis

Tenure Start Date:14/01/2010
Tenure End Date:2018
Nationality:Greek
Year of birth:1946
Member In Companies:1
CV

Petros K. Sabatacakis was Chief Risk Manager for Citigroup Inc. between 1999 and 2004. He was responsible for all the financial services company’s businesses, a member of the Management Committee and a member of the Citicorp Board. All credit, market and operational risk activities of the Group reported to him.

From 1992 to 1997, he was in charge of the financial services subsidiaries of the American International Group, its treasury operations as well as the market and credit risk activities. He was a member of the Executive Committee and a C.V. Starr partner.

Prior to that, he was the head of global Treasury and Capital Markets at Chemical Bank (now JP Morgan Chase), which he joined in 1973 in Economic Research. Among his positions at Chemical Bank were oversight of the international branches, foreign exchange and securities trading and the management of its funding and investments division. In addition, he had the responsibility for the management of the corporation’s overall interest rate risk and investment portfolios.

Mr. Sabatacakis, born in Greece, earned three degrees from Columbia University: Bachelor of Science, Masters of Business Administration and Doctor of Philosophy degree in Economics. He has been the Chairman of Plan International and Child Reach (child-sponsor non-profit), a Trustee of Athens College in Greece and a Director Emeritus of the Gennadius Library.

Currently he is a member of the Board of NBG and TITAN Cement.

He and his wife, Marina, live in New York City and East Hampton, Long Island.

CEO

Leonidas   Fragkiadakis

Tenure Start Date:23/03/2015
Tenure End Date:2018
Nationality:Greek
Year of birth:
Member In Companies:No
CV

Leonidas Fragkiadakis was appointed General Manager of Treasury and Global Markets at National Bank of Greece in January 2009.

He is a member of the Board of National Securities and Chairman of the Hellenic Chapter of Forex Club/ACI.

During the years 2003-2009 he worked for NBG Group as Group Treasurer, while from 1996 till 2003 he was responsible for the Derivatives Division of the bank.

He worked at Credit Suisse First Boston in New York as a Trader with extensive experience in foreign derivative products, interest rates and emerging market bonds.

L. Fragkiadakis holds a Bachelor’s Degree in Economics from Trinity College, Cambridge University (UK) and an MBA from the Wharton School of Finance of the University of Pennsylvania (USA).​

Deputy CEO' s

Dimitrios   Dimopoulos

Member of the Executive Committee

Tenure Start Date:26/06/2014
Tenure End Date:2018
Nationality:Greek
Year of birth:1947
Member In Companies:
CV

Dimitrios G. Dimopoulos was elected Executive Member of the Board of Directors and Deputy CEO of the National Bank of Greece3 (NBG) in June 2014. 

Dimitrios G. Dimopoulos was appointed General Manager of Corporate Banking at National Bank of Greece in February 2008 and became Chairman of the Board of Directors at Ethniki Insurance Co in July 2012. He is a Member of the Executive Committee of NBG.

He joined National Bank of Greece in 1975. As Director of the Large Corporate Division he was involved in corporate financing as well as project financing of investments in infrastructure, energy and tourism sectors.

He is member of the Board of Directors of NBG Securities S.A., Astir Palace Vouliagmeni S.A., Ethniki Leasing S.A. and Ethniki Factors S.A. and also permanent representative of the Bank at the Board of Directors of the Athens Chamber of Commerce and Industry.

Mr. Dimopoulos holds a Bachelor's degree in Economic and Political Sciences from the Aristotle University of Thessaloniki and a postgraduate degree in Economics from the University of East Anglia, United Kingdom.

Paul   Mylonas

Member of the Executive Committee

Tenure Start Date:26/06/2014
Tenure End Date:2018
Nationality:Greek
Year of birth:1958
Member In Companies:No
CV

​Paul Mylonas was elected Executive Member of the Board of Directors and Deputy CEO of the National Bank of Greece3 (NBG) in June 2014. 

Paul Mylonas was appointed Chief Risk Officer in December 2013. He is a Member of the Executive Committee. 

He runs the Investment Committee, and is a member of the ALCO Committee of the Group. He is Vice-Chairman of the BoD at Ethniki Insurance Co, Chairman of the BoD of Vojvodjanska Banka AD, Non-Executive Chairman of the BoD of NBG Cyprus Ltd and serves on the Boards of Directors of: Finansbank A.S., Astir Palace Vouliagmenis S.A., NBG Asset Management, National Securities and United Bulgarian Bank AD. Moreover, he is a member of the Economic Advisory Board of the Hellenic Banks’ Association. 

In July 2012 he was appointed General Manager of Strategy and International Operations. From December 2010 until July 2012 he served as General Manager of Strategy and Governance. From April 2004 to December 2010 he was General Manager of Strategy and Research, Head of Investor Relations and Chief Economist of NBG Group, which he joined in 2000. 

From 1995 to 2000, he worked as Senior Economist in the Economics Department of the OECD. During 1999-2000 he served as the OECD representative at the G-10 Secretariat. During the period 1987-1995, he worked at the International Monetary Fund as Senior Economist. In the years 1985-1987, he was visiting Assistant Professor at the Department of Economics in Boston University.

P. Mylonas holds a Bachelor of Science in Applied Mathematics-Economics (Magna cum Laude and Phi Beta Kappa) from Brown University, as well as a Master of Arts and a Ph.D. in Economics from Princeton University.

​Independent Non-Executive Members

Mike   Aynsley

Tenure Start Date:
Tenure End Date:
Nationality:
Year of birth:
Member In Companies:No
CV

Mr. Mike Aynsley is a member of the Board, Chair of the Board Risk Committee, Member of Board Audit, Remuneration and Nomination Committees of Mitsubishi Ufj Securities International. He is also a member of the Board of Directors of Dahabshiil Transfer Services ltd (UK) and is a founding partner and Senior Managing Director of Prospera Associates ltd, a management consulting company in the UK.

Mr. Aynsley held the position of Group Chief Executive Officer at the Irish Bank Resolution Corporation limited – IBRC (formerly Anglo – Irish Bank) (2009-2013). From 2006 to 2009 he was Chief Executive Officer of Independent Risk Consultants, Australia where he led a number of high-level projects focusing on capital markets development and financial sector reform in Asian economies.

Prior to that, he was Senior Executive on strategic and risk related areas and Chief Risk Officer at the Australian and New Zealand Banking Group (2005) and at ANZ Bank & National Bank of New Zealand (2004-2005) in New Zealand.

Furthermore, he was a Global Partner in Banking and Financial Services at Deloitte Consulting (1999-2003) and Group General Manager, Global Wholesale Financial Services at the National Australia Bank (1992-1998). He has worked for Security Pacific National Bank/Bank of America (1983-1991), ABN AMRO BANK, Australia (1981-1983), Banque Nationale de Paris, Australia (1978-1981) and Commonwealth Bank of Australia (1977-1978).

Mr. Mike Aynsley holds an MBA and a Post Graduate Diploma in Management from Macquarie University, Australia.

Marianne   Økland

Tenure Start Date:
Tenure End Date:
Nationality:
Year of birth:
Member In Companies:
CV

​Ms. Marianne Økland has extensive international experience in the financial sector, especially in matters of finance and debt origination. Marianne Økland is Managing Director at AVISTA PARTNERS where she deals with debt advisory and capital raising. For a decade in the past she held important positions at J.P. Morgan, UK, particularly in the field of finance and debt origination. She was, amongst them, Responsible for issues of finance and debt origination (2007-2008), Responsible for the restructuring /debt transfer programme (2004-2007), Line Manager for all Capital Market Analysts and Associates (2004-2007) and Responsible for finance and Debt origination issues for the Nordic region (Ranked No 1 capital originator, 2002-2007)(1998-2008). Previously, she had dealt with finance and debt origination issues in the Nordic region, Australasia and South Africa (1994-1998) while during the period 1993-1994 she was Chief of Staff at the Debt Capital Market Division at UNION BANK OF SWITZERLAND, UK. Additionally, she has experience in the consulting sector as she has worked at Marsoft Limited, a consulting company based in Boston, London and Oslo specializing in matters related to shipping investments (1988-1993).

She serves as Non-Executive Director, member of the Audit and Regulatory/Environmental Compliance Committees at SCORPIO TANKERS, UK, one of the largest shipping companies in the product tanker sector and listed on the New York Stock Exchange. She is Non-Executive Director, member of the Audit Committee and Chair of the Risk Committee at Infrastructure Development Finance Corporation (IDFC-India). She has also served as Non-Executive Director, Chair of Risk Committee and member / interim Chair of Audit Committee at NOVA LJUBLJANSKA BANKA in Slovenia and until recently she was Vice Chair of the Board, Chair of Risk Committee and member of Audit Committee of the Icelandic ISLANDSBANKI (2010-2016).

Ms. Økland holds a master's degree from the Norwegian School of Economics and Business Administration in the United Kingdom while she has attended a doctorate programme in Economics/Finance in the same institution. She was born in Norway in 1962.

Haris   Makkas

Tenure Start Date:
Tenure End Date:
Nationality:
Year of birth:
Member In Companies:
CV

Mr. Makkas started his banking  career in NY  in 1978 , where he held several positions in the areas of Treasury Management, Investment Banking and Risk management until 1992. 

He returned to Greece in 1993,  briefly joining  National Bank of Greece as Global Treasurer before becoming Managing Director at Bank of America Athens for the next 7 years. Next he helped set up and ran the joint venture of ING Bank and Piraeus Bank in Asset Management until 2008, and for the following couple of years he joined a private equity fund in Switzerland. He  has served on the boards of several companies in the public as well as the private sector.

Mr. Makkas was born in Kerasohori Evrytanias,  studied on various scholarships at Athens College (1971), Brandeis University in Boston (BA, 1975), and Columbia Unviversity in New York (MA, 1977 and M. Phil, 1978), and has taught econometrics and money and banking at several colleges.

Claude   Piret

Tenure Start Date:02/11/2016
Tenure End Date:
Nationality:
Year of birth:
Member In Companies:No
CV

Mr. Claude Piret possesses extensive experience in the international financial sector, having a career of over 35 years in international banking institutions. He has served in high-ranking positions for a number of years at Dexia Group, and has extensive experience in audit and in the areas of risk management and management of non-performing loans.

Non Executive members

Stavros   Koukos

Tenure Start Date:21/06/2012
Tenure End Date:2018
Nationality:Greek
Year of birth:1954
Member In Companies:3
CV

 

Stavros Koukos was born in 1954 in Nea Triglia- Chalkidiki. He is divorced and has one daughter.

He holds a degree in Economics of the School of Higher Industrial Studies of Thessaloniki, from where he graduated in 1981.In 1973 he was recruited through competition in the National Bank of Greece.

He is an active member of the National Bank of Greece Employees Union (SYETE) since his recruitment in NBG.

He was elected member of the Administration Board of SYETE in 1982, Vice-President of SYETE from 1986 to 1994 and further on, President, continuously elected from 1994 until 2006.

He has been member of the General Council of OTOE since 1982, and was elected President of OTOE, position that he holds until today since December 2006.  He is also President of the Labour Institute of OTOE (INE/OTOE) since 2006, and International Relations Secretary of OTOE.

He is also member of the General Council of GSEE from 2006 until today.In 2012, he was elected employees’ representative in the Board of Directors of NBG.​

Eva   Cederbalk

Tenure Start Date:27/12/2016
Tenure End Date:2018
Nationality:
Year of birth:
Member In Companies:No
CV

Ms. Eva Cederbalk has served as Chief Executive Officer of Swedish Housing Finance Corp. (formerly known as Swedish National Housing Finance Corp.) since July 2005.

Ms. Cederbalk served as the Chief Executive Officer at Skandinaviska Badanlaggningar AB (SBAB), Holding company of AB Sveriges Sakerstallda Obligationer (publ) (The Swedish Covered Bond Corp.). She served as Chief Executive Officer of SBAB Bank AB (publ) since July 2005. She served as Chief Executive Officer and Managing Director of SBAB, Sveriges Bostadsfinansieringsaktiebolag. She served as Managing Director of Dial Försäkring AB from 1998 to 2000, Head of E-business at If Skad försäkring AB from 2000 to 2001 and Managing Director of Netgiro International AB from 2002 to 2003. She serves as Chairman of the Board for Klarna AB and S:t Eriks Ögo sjukhus AB. She servedas Chairman of AB Sveriges Sakerstallda Obligationer (publ) (The Swedish Covered Bond Corp.) until December 2011. She has been a Director of Barnpengar AB. She serves as a Member of the Board of Bostadsgaranti AB. She served as a Director of Bilia AB since 2006 and Íslandsbanki hf from March 2015 to April 2016.

Ms. Cederbalk holds an M.Sc. in Business Administration from the Stockholm School of Economics.

Spyros   Lorentziadis

Tenure Start Date:02/11/2016
Tenure End Date:
Nationality:
Year of birth:
Member In Companies:No
CV

Mr. Lorentziadis has extensive experience in audit and in the financial sector. He is a Certified Auditor and former Partner of Arthur Andersen and EY with significant experience on consulting services in the areas of corporate governance, internal audit and financial reporting. He has been a member of numerous Boards, mainly in the financial sector, while the last ten years he has been an independent non-executive member of the Board of Eurobank Group.

Representative of the Hellenic Financial Stability Fund (Greek Law 3864/2010)

Panagiotis   Leftheris

Tenure Start Date:
Tenure End Date:
Nationality:Greek
Year of birth:
Member In Companies:
CV

Secretary - Board of Directors

Panagiotis   Dasmanoglou

Tenure Start Date:28/01/2014
Tenure End Date:
Nationality:Greek
Year of birth:1963
Member In Companies:1
CV

Panos Dasmanoglou, born 1963 in Athens, has been an executive at the National Bank of Greece since 1990. In December 2016 he was appointed General Manager of Group Compliance and Corporate Governance. In June 2015 he was appointed Assistant General Manager of Group Compliance and Corporate Governance, while previously, since September 2013 he served as Assistant General Manager of Group Compliance. In parallel, in January 2014 he was elected Secretary of the Bank's Board of Directors and of its Committees.

Since July 2009 he served as Director of the National Bank of Greece Group Compliance Division, where he was responsible for the Group's compliance with the legislative and regulatory framework. As part of the various executive-level positions he has assumed throughout his career as a lawyer at the National Bank of Greece Legal Services Division, he has handled significant matters relating to the integration of European banking legislation in the Bank's activities, domestic and international credit operations and M&A activity, thereby gaining substantial experience across a broad spectrum of banking operations.

For a number of years, he has been an active participant in the workings of the Hellenic Bank Association and the European Banking Federation, specifically in the committees on international banking issues, compliance, consumer issues, anti-money laundering, derivatives and repos. Further, he serves as member on the Board of the Hellenic Ombudsman for Banking-Investment Services as well as on the boards of directors of NBG Group companies, namely NBG Securities S.A., Ethniki Factors S.A. and NBG Asset Management S.A.

Panos Dasmanoglou holds a law degree (LL.B) from the University of Athens Law School and a postgraduate degree (Lic.spec.) in European Law from the University of Brussels, while he has also studied banking management at INSEAD Graduate Business School. Additionally, he has received international certifications in the field of international financial law and Compliance in banking.