ATHENS Aug 6 Greece's Piraeus Bank
said on Tuesday that it hired peer Eurobank's former
deputy chief executive Nick Karamouzis as a management adviser
and a member of its strategic planning committee.
Karamouzis, deputy CEO at peer Eurobank for 14 years and
head of wholesale banking, left Eurobank after its
recapitalisation was completed in June.
He will be mainly responsible for turning Piraeus's Geniki
unit, which was purchased from Societe Generale last
year, into an investment bank.
Under Piraeus's plan, small commercial bank Geniki will
specialise in asset management, advisory banking and corporate
restructuring. The unit will proceed with a rights issue at a
Greece's top four banks - Piraeus, Alpha, National
and Eurobank - completed a 27.5 billion euro
recapitalisation in June to restore their solvency after
suffering hits from writedowns on government debt and bad loans.
Their aim now is to regain access to international markets
to boost lending to help the economy out of its deep downturn.
(Reporting by George Georgiopoulos; editing by Keiron