December 30, 2016 / 11:48 AM / 9 months ago

Greek bank rescue fund resumes search for new CEO

ATHENS, Dec 30 (Reuters) - Greece’s HFSF bank rescue fund is seeking new applications for the role of chief executive after two previous candidates turned down the job because they feared it could be short-term.

The fund said the term of the new CEO will be renewable but cannot run beyond the end of June, 2020. The two candidates previously chosen by a selection panel had opted out because the initial term ran only until next June.

New applicants have until Jan. 22 to put their names forward.

The Hellenic Financial Stability Fund (HFSF), funded from the country’s EU/IMF bailouts, has spent billions of euros recapitalising Greece’s four big banks and holds stakes in National Bank, Piraeus, and Alpha.

The fund, set up to maintain the stability of Greece’s banking system, is managed by two distinct bodies -- a three-member executive board and a nine-member general council.

The HFSF’s executive board resigned in July to comply with the terms of the country’s third bailout. The fund had appointed Christoforos Stratos as interim CEO until it picks a new head.

Applicants can express interest to Stanton Chase the recruitment firm advising the fund on the process. (Reporting by George Georgiopoulos; Editing by Keith Weir)

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