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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.

The current Board of Directors of the Bank has been elected by the Annual General Meeting of Shareholders on 26.07.2018, with a term of 3 years, i.e. through to the AGM of 2021, while the said AGM also appointed five out of a total of eleven Board members as independent non-executive directors. On the same day  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. Costas Michaelides, the Bank's Chief Executive Officer is Mr. Paul Mylonas, and executive Board members are Mr. Dimitrios Dimopoulos, and Mr. Panagiotis Dasmanoglou. Furthermore, the non-executive members of the Board are the following: Mr. Yiannis Zographakis (non-executive), Mr. Claude Piret (independent non-executive), Mr. Haris Makkas (independent non-executive), Ms. Eva Cederbalk (independent non-executive), Mr. Andrew McIntyre (independent non-executive), Mr. John McCormick (independent non-executive), and Mr. Periklis Drougkas as the Hellenic Financial Stability Fund Representative.

8 out of 11 Directors are non-executive.

The Board's composition is presented in detail below.

Furthermore, it is noted that:

As notified to the Bank by HFSF's Letter, dated 23.07.2018, the duties of the HFSF's Representative, in the context of Law 3864/2010, are exercised by Mr. Periklis Drougkas.

Mr Paul Mylonas was elected as Chief Executive Officer, at the meeting of the Board of Directors held on 17 July 2018.

As notified to the Bank by HFSF's Letter, dated 23.05.2018, the duties of HFSF's Representative, in the context of Law 3864/2010, are exercised by Mr. Christoforos Koufalias.

On 23 April 2018 the Board of Directors elected Mr. Andrew McIntyre as new Independent non-executive member of the Board of Directors.

At the meeting of the Board of Directors held on 28 February 2018, it was announced the resignation of Mr. Petros Sabatacakis from the position of independent non-executive Board member.At the meeting of the Board of Directors held on 31 January 2018, it was announced the stepping down of Mr. Mike Aynsley from the position of independent non-executive Board member.

On 27 December 2017, at the meeting of the Board of Directors, Mr. Panayotis (Takis) Aristidis Thomopoulos submitted his resignation from the position of non-executive member and Chairman of the Bank's Board of Directors. By decision of the Bank's Board of Directors during its session taking place the same day, the Board resolved upon its reconstitution into a body and upon the appointment of Mr. Costas Michaelides as new non-executive Chairman of the Board.

On 1 November 2017 the Board of Directors elected Mr. Costas Michaelides as new non-executive member and Vice-Chairman of the Board of Directors.

On June 19, 2017, the non-executive member of the Board of Directors, Mr. Spyros Lorentziadis, informed the Board of Directors about his resignation, which came into force on June 30 2017.

Following relevant notification from the Hellenic Financial Stability Fund (HFSF) and the Bank's Board of Directors session held on 30.3.2017, Mrs Panagiota Iplixian 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. Panagiotis Leftheris who submitted his resignation.

In 2017, the Board convened 23 times.

In 2017, the Board's Committees convened a total of 51 times.

The Board members are as follows:

Chair of the Board (Non Executive)

Costas   Michaelides

Tenure Start Date:27/12/2017
Tenure End Date:2021
Nationality:Cypriot
Year of birth:1949
Member In Companies:
CV

Mr. Costas Michaelides possesses excellent experience of over 30 years in international banking, having served in a number of prominent managerial positions in international credit and financial organisations. During the period 2013-2015 he served as Global Head of Strategic Change at UBS A.G., while from 2005 to 2013 he was Regional Chief Operating Officer at Credit Suisse A.G. Prior to that, he served as Chief Operating Officer and Managing Director and Head of European Finance, Administration and Operations, Managing Director at Credit Suisse First Boston (2000-2005), Chief Operating Officer and Managing Director at Donaldson, Lufkin & Jenrette U.K. (1999-2000) and Chief Financial Officer (1988-1994) and Chief Administrative Officer (1994-1999) at Merrill Lynch U.K. He has also been Treasurer at Salomon Brothers U.K. (1986-1988) and has served in various positions at ExxonMobil, including as Treasurer and as Financial Analyst.

Mr. Michaelides holds an MBA in Finance from Columbia Business School, a Doctorate in Economics and International Affairs from the University of Denver, and a BA in Economics and Political Science from Ripon College.

 

CEO (Executive Member) 

Paul   Mylonas

Chairman of the Executive Committee

Tenure Start Date:26/06/2014
Tenure End Date:2021
Nationality:Greek
Year of birth:1958
Member In Companies:No
CV

Pavlos Mylonas was appointed Chief Executive Officer of National Bank of Greece in July 2018. He joined NBG in 2000 and served, inter alia, as Deputy CEO, CRO and Head of Strategy.

He worked on the staff of the OECD from 1995 to 2000, and at the International Monetary Fund from 1987 to 1995. In the years 1985-1987, he was visiting Assistant Professor at the Department of Economics in Boston University.

He 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.

 

Executive Members 

Dimitrios   Dimopoulos

Member of the Executive Committee

Tenure Start Date:26/06/2014
Tenure End Date:2021
Nationality:Greek
Year of birth:1947
Member In Companies:No
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.

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.

Panos   Dasmanoglou

Member of the Executive Committee

Tenure Start Date:26/07/2018
Tenure End Date:2021
Nationality:Greek
Year of birth:1963
Member In Companies:No
CV

Panos Dasmanoglou, born 1963 in Athens, has been an executive at the National Bank of Greece since 1990. In July 2018 he was elected Executive Member of the Board of Directors. He is also member of the Executive Committee. 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.

Independent Non-Executive Members

Claude   Piret

Tenure Start Date:02/11/2016
Tenure End Date:2021
Nationality:Belgian
Year of birth:1951
Member In Companies:No
CV

Mr. Claude Piret has been member of the Board of Directors of National Bank of Greece since November 2016. Mr 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.

Mr Piret holds a Diploma in Civil Engineering from The Université catholique de Louvain (Belgium) and a post-graduate degree in Management (Finance) from The Université libre de Bruxelles (ULB) -Solvay Institute.

Haris   Makkas

Tenure Start Date:11/06/2012
Tenure End Date:2021
Nationality:Greek
Year of birth:1952
Member In Companies:1
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.

Andrew   McIntyre

Tenure Start Date:23/04/2018
Tenure End Date:2021
Nationality:British
Year of birth:1956
Member In Companies:3
CV

Mr. Andrew McIntyre possesses significant international experience in the banking sector, having served in various international financial organisations.

Mr. McIntyre serves as Non-Executive Director and Chair of the Audit Committee at Lloyds Bank Corporate Markets plc, since 2017. He also serves as Chair of the Audit Committee at Hermes Property Unit Trust since 2017, Chair of the Audit Committee at Cavamont Holdings Limited since 2016, Non-Executive member and Chair of Audit, Risk and Compliance Committee at C.Hoare &Co since 2015 and a Trustee and Director of the Centre for Economic Policy research since 2014. Mr. McIntyre has also served as Chairman of the Board at Southern Housing Group from 2004 until 2013 and he was partner at Ernst & Young, where he had worked from 1988-2016 reaching up to Senior Partner in the UK Financial Services Assurance practice and having had a role in various business groups and client relationships.

Mr. McIntyre holds a Bachelor of Arts and a Master of Arts from the University of Cambridge, UK, and he is a Chartered Accountant certified by the Institute of Chartered Accountants in England and Wales (ICAEW).

 

Eva   Cederbalk

Tenure Start Date:27/12/2016
Tenure End Date:2021
Nationality:Swedish
Year of birth:1952
Member In Companies:
CV

Ms. Eva Cederbalk has been member of the Board of Directors of National Bank of Greece since December 2016. Ms. Cederbalk has her background in the financial sector. She has served as Chief Executive Officer of SBAB Bank, a Swedish retail bank 2004 – 2011.

Prior to that she served as Chief Executive Officer of Netgiro International 2002 – 2003, Executive Vice President, responsible for e-business at If Skadeförsäkring (Nordic Iinsurence company) and as Chief Executive Officer of DAIL Försäkring (insurance company).

Ms. Cederbalk serves as a Member of the Board of Ikano Group S.A. since May 2012, Bilia AB since 2016 and Svolder AB since 2015. She has served as Chairman of the Board for Klarna AB 2009- 2016 and S:t Eriks Ögonsjukhus AB 2001-2006. She has served as Chairman of AB Sveriges Sakerstallda Obligationer (publ) (The Swedish Covered Bond Corp.) until December 2011. Ms. Cederbalk holds an M.Sc. in Economics from the Stockholm School of Economics.

John   McCormick

Tenure Start Date:26/07/2018
Tenure End Date:2021
Nationality:Irish
Year of birth:1961
Member In Companies:1
CV

 Non Executive members

Yiannis   Zographakis

Tenure Start Date:26/07/2018
Tenure End Date:2021
Nationality:Cypriot
Year of birth:1963
Member In Companies:1
CV

​Mr. Yiannis Zographakis has been Member of the Board of Directors of the National Bank of Greece since July 2018. Mr. Zographakis has a diverse background, among others, in Strategy, Business (P&L) Management, Finance, Product and Segments Management, O&T Management, as well as corporate governance, regulatory and industry related organizations, while he possesses broad international management and leadership experience (USA, UK, EMEA).

He has been a Member of the Board of Directors of the Bank of Cyprus since September 2013, the Chairman of the Audit Committee, a member of the Risk Committee of the Bank of Cyprus since October 2013 and a member of the Technology Committee of the Bank of Cyprus since Jan 2017.

He has also held directorships at the Board of Directors of Uniastrum Bank, Russia, Eurolife and CISCO during 2014 to 2015.

He has been a Director at the Student Loan Corporation (2001-2004), a Director at Tiresias (Greek Credit Bureau) (2007-2011) and Member and Secretary of the Audit Committee (2009-2011), a Director and Member of the Audit Committee at Diners Club Greece (2008-2011), the Vice-Chairman of the Citi Insurance Brokerage Board in Greece (2008-2011) and the Chairman of the Investments and Insurance Supervisory Committee in Citibank Greece (2008-2011).

Mr. Zographakis was previously employed, among others, as a Retail Bank Director by Citibank, Athens, Greece, a Consumer Products Head for EMEA by Citigroup, a Chief Executive Officer & Director by The Student Loan Corporation, USA, a Director of Finance / Acting Chief Financial Officer - Consumer Assets Division, USA, by Citigroup, a Director of Finance by Citigroup - CitiMortgage, USA, and a Treasurer by Citigroup – Consumer Bank, Greece.

Mr. Zographakis holds a Master's degree in Business Administration (MBA) from Carnegie Mellon University and a Bachelor's degree in Civil Engineering from Imperial College – University of London.

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

Periklis   Drougkas

Tenure Start Date:26/07/2018
Tenure End Date:2021
Nationality:Greek
Year of birth:1953
Member In Companies:No
CV

Secretary - Board of Directors

Panos   Dasmanoglou

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

Panos Dasmanoglou, born 1963 in Athens, has been an executive at the National Bank of Greece since 1990. In July 2018 he was elected Executive Member of the Board of Directors. He is also member of the Executive Committee. 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.