BOC appoints James B. Lockhart after Ross resignation

The Board of Directors of both BOC Holdings and the Bank of Cyprus appointed James B. Lockhart III as a member of the Board of Directors on each of these Boards, after the resignation of Wilbur L. Ross further to his appointment as U.S. Commerce Secretary. According to an announcement, Lockhart serves as Vice Chairman of WL Ross & Co. LLC in New York since 2009 and as a Member of Investment Committees and the Management Committee thereof. Meanwhile, Bank of Cyprus CEO John Patrick Hourican appeared Wednesday not to favour the possibility of creating an external bad loan management unit.

Source: Cyprus News Agency