12 November 2014

Bad luck for Mr. Christofides to miss out on the exciting journey of launching a new bank in Cyprus now that his former employer, Ancoria Holdings, has been granted a banking license by the Central Bank. It will be recalled that he stepped down from Ancoria on the last day of July 2014 in a resignation letter backdated to 28 July. We presume this was because he recognised the potential for a conflict of interest between his role as Administrator of FBME’s Cyprus branch to which he was appointed on 22 July and his position as ‘project leader’ for Ancoria in its quest for a banking license.