The entire board of the Bank of Cyprus was asked to step down by the Central Bank of Cyprus, and now the bank is expected to convene a general assembly as soon as possible. The governor of the Central Bank of Cyprus, Chrystalla Georghadji, sent a letter to the bank on Monday in response to the BoC’s request to permit Wilbur Ross a seat at the bank’s board. The Bank of Cyprus’ board is meeting Tuesday to consider the stern letter from the central bank.
Board limit capped at 13
The Bank of Cyprus earlier filed an application with the Central Bank of Cyprus requesting that U.S. billionaire Wilbur Ross be allowed a seat at the board. The request follows the billionaire’s investing over €400 million...
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