Bank of Cyprus CEO resigns, blames crisis
(Reuters) - The chief executive of Cyprus's largest lender, Bank of Cyprus, resigned on Tuesday, citing a lack of coordination in dealing with Europe's banking crisis.Andreas Eliades was chief executive officer for eight years and instrumental in leading the bank's foray into neighboring Greece, where the lender is now heavily exposed to its debt mountain. He said he was leaving with immediate effect.
Bank of Cyprus rattled domestic markets by unexpectedly seeking state financial support just prior to a regulatory deadline to bolster its core tier 1 capital last month.
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