Athens, Greece. National Bank of Greece announced the election of Michalis Haralabidis as a non-executive member of its board of directors. The bank said he will serve as the representative of the Hellenic Corporation of Assets and Participations (HCAP).
Board election and representation
The bank said Haralabidis was elected during a board session held on that day to serve as HCAP’s new representative on the board.
Legal basis for the appointment
National Bank of Greece said the election was conducted in accordance with the provisions of Law 3864/2010, as currently in force, as well as the bank’s articles of association.
Regulatory conditions and oversight
The bank noted that, under the existing legislative and regulatory framework, the election of new members to the board of a credit institution remains subject to specific conditions. It said the appointment is subject to the approval and continuous supervision of the Single Supervisory Mechanism of the European Central Bank.
Fitness and propriety standards
The bank said the Single Supervisory Mechanism ensures that all board members of significant banks across the euro area meet stringent fitness and propriety standards.
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