The president of systemic Eurobank Ergasias S.A., Nikos Karamouzis, was unanimously chosen this week by members of the Hellenic Bank Association's (EET) board of directors to succeed former National Bank president and one-time minister Louka Katseli.
The selection marks the first time in many decades that EET chose a president of the board from a local lender other than National Bank of Greece, the oldest and biggest credit institution in the country. The selection of NBG's top executive had been considered a "customary" right over the decades.
Karamouzis' selection, beyond the unanimity of the decision, will reportedly inaugurate a new chapter for the association, with an upgraded role reportedly topping its agenda, along with charter revisions.
The selection of the Eurobank president also broke the unwritten privilege held by NBG, opening up the prospect of a rotation of top banking executives for the post.
