Alpha Services and Holdings SA, parent company of Alpha Bank SA, announces the election of Mr. Dimitris Tsitsiragou in the position of Chairman of its Board of Directors, as well as of the Board of Directors of Alpha Bank.

Mr. Tsitsiragos, after the completion of the supervisory evaluation process by the European Central Bank, assumes his duties from January 1, 2025, succeeding the academic Mr. Vasilios Rapanos, who led the Board of Directors for more than 10 years, contributing decisively to the consolidation and modernization of the Group.

According to the relevant announcement, the election of Mr. Tsitsiragou reflects the extroverted approach adopted by Alpha Bank, leaving behind definitively the consequences of the financial crisis, as it focuses on providing modern services to its Clients and creating value for its Shareholders, Employees and Society.

Mr. Tsitsiragos has many years of experience in International Financial Institutions, having worked for more than three decades in the field of international financing and investments.

His career path includes an extensive tenure at the International Finance Corporation (IFC), part of the World Bank Group, where he worked for 28 years in progressively senior roles in the US, Europe, South Asia and the Middle East – North Africa, reaching the position of Vice President of the Organization. He was also Senior Advisor for Emerging Markets at PIMCO, while holding non-executive board positions at organizations such as Infrastructure Development Finance Company (IDFC) in India and Commercial Bank of Ceylon (CBC) in Sri Lanka. In July 2020, he was elected as an Independent Non-Executive Member of the Board of Directors of Alpha Services and Holdings and Alpha Bank, while since July 2020 he has been a Member of the Risk Management Committee. Since August 2023, he has been Chairman of the Remuneration Committee. He is a member of the Board of Directors of Titan Cement International.

He holds a BA in Economics from Rutgers University, an MBA from George Washington University, and has completed the Executive Development Program at Harvard Business School.

In view of assuming his duties, Mr. Tsitsiragos stated: “It is an extraordinary honor and responsibility to assume the Chairmanship of the Board of Directors of a Group that already has a history of 145 years and, above all, that has the ambition and will to continue to play a leading role, supporting progress in life and entrepreneurship for a better tomorrow. The sense of responsibility becomes greater, as I succeed an eminent personality with a distinct imprint as a professor, academic and, of course, head of large organizations. Dealing with the consequences of the crisis, in a period of unprecedented turmoil for the Greek economy and banks, and returning Alpha Bank to a path of growth and profitability is a project that was completed during the Presidency of Mr. Vassilis Rapanou, whom I thank for his guidance and help during the four years we served together on the Bank’s Board of Directors. On these strong foundations of resilience, we are building a new Bank that is more outgoing, modern and efficient”.

The outgoing President Mr. Vasilios Rapanos noted:

“After ten years and seven months in the presidency of the Board of Directors of Alpha Bank, it is time to leave. It is true that in recent days, more and more often I recall the day when our late President, Giannis Kostopoulos, asked me to succeed him in the presidency of the Bank’s Board of Directors. I will be forever grateful to him.

Throughout this period, we experienced unprecedented situations and great challenges. Thanks to the hard work and dedication of the staff and the executive team, we were able to overcome all the difficulties and today the Bank has returned to normal operation and offers modern services to its customers. There were also significant changes in corporate governance, changes that have significantly improved the Bank’s operations and made it more resilient to potential turbulence.

I’ve learned a lot over the years. I met great people. I shared with them successes, challenges and failures, in the effort to create a Bank characterized by innovation, dynamism and respect for customers and employees. A bank that contributes to the development of the economy and, at the same time, is characterized by social sensitivity and serves the values ​​of our culture.

At the end of my term, I would like to thank many people who have helped me decisively in the performance of my duties. But I will mention only two. I thank Mr. Municipality of Manzounis for the creative collaboration we had during a particularly difficult period and I express my special appreciation for his love for the Bank and his humanitarianism. I also want to express my thanks to the CEO Mr. Vassilis Psaltis for his hard work and the spirit of understanding he has shown, as a result of which the cooperation with the Board of Directors is cordial and efficient.

I also express my thanks to all the members of the Board of Directors, the members of the Executive Committee, the senior management and all the staff for their hard work, for the respect and trust they have shown in me and for their morals.

Finally, I consider it my duty to welcome the new Chairman of the Board of Directors, Mr. Dimitris Tsitsiragos. I am sure that with his experience, knowledge and character, he will significantly contribute to the further improvement of corporate governance and the operation of the Bank”.