NICOSIA – Cyprus’ largest bank says its outgoing chief executive has agreed to stay on two more years under a new contract, overturning his earlier decision to step down.
John Patrick Hourican, a former Royal Bank of Scotland executive, announced in April that he would be leaving after two years at the helm of Bank of Cyprus. He cited personal reasons.
Hourican’s new contract takes effect Jan. 1st.
Bank of Cyprus Chairman Josef Ackermann said that Hourican has been “instrumental” in improving the troubled lender’s performance.
Hourican took on the job a few months after international creditors threw Cyprus a 10 billion euro ($10.63 billion) lifeline in March, 2013, that forced a grab of uninsured Bank of Cyprus deposits and shuttered the country’s second largest lender.
PAPHOS, Cyprus (AP) — A Cyprus criminal court on Tuesday rejected a defense argument that a British man’s confession to killing his ailing wife was unlawfully obtained, because he was in no frame of mind to speak to police without a lawyer present.
FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.
NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.
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