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Strategic Shifts At Hellenic Bank Amid Eurobank Takeover

In a notable move within Cyprus’s banking sector, John Gregory Iossifidis has resigned from Hellenic Bank’s Board of Directors. His departure marks the second high-profile exit, following Christos Themistocleous, amidst Eurobank’s strategic consolidation. Eurobank, now holding a controlling 56% stake in Hellenic Bank, is driving these changes to integrate and streamline operations. Iossifidis, who played a pivotal role on the Audit and Nominating/Internal Governance Committees, stepped down to facilitate a smooth transition in leadership.

This restructuring is a critical component of Eurobank’s broader strategy to reinforce its market presence in Cyprus. With further board changes expected ahead of the upcoming annual general meeting in September, the aim is to ensure alignment with Eurobank’s vision and operational framework. This period of transition is seen as essential for Hellenic Bank to adapt to the new ownership dynamics and to maintain its competitive edge in the market.

Eurobank’s takeover signifies a substantial shift in Cyprus’s banking landscape. The integration process is likely to focus on leveraging synergies, optimizing resources, and enhancing customer service. The strategic adjustments at the board level are pivotal in setting the stage for these broader operational goals.

John Gregory Iossifidis’s resignation, while significant, is part of a calculated strategy to ensure that Hellenic Bank can fully align with Eurobank’s objectives and governance standards. As the banking community watches closely, these developments are expected to pave the way for a more robust and competitive banking entity in Cyprus.

UAE Job Trends For 2025: High-Demand And Lucrative Roles Revealed

The UAE’s flourishing asset management sector, bolstered by rising investor interest, regulatory advancements, and a surge in Family Offices and Ultra High Net Worth Individuals (UHNWIs), is driving demand for banking and finance talent.

Roles in fundraising and institutional sales are particularly sought after, with professionals in these fields highly valued for their regional networks and industry expertise, according to Michael Page’s UAE 2025 Salary Guides. The comprehensive report, which includes insights from 17 industries, offers an overview of current hiring trends, salary benchmarks, and the recruitment challenges businesses face.

Banking And Finance In High Demand

The report highlights a significant need for compliance professionals, especially those with experience in Dubai Financial Services Authority (DFSA) and Financial Services Regulatory Authority (FSRA) regulations. Chief Compliance Officers and Money Laundering Reporting Officers (MLROs) are among the most lucrative roles in the sector. Jon Ede, Regional Director UAE at Michael Page, pointed out that in 2024, the UAE’s workforce grew by 9%, and the number of new companies increased by 14.5%, showing the success of the nation’s strategic initiatives.

Sales, Marketing, And IT Growth

The sales and marketing sector has seen steady growth, especially in B2B industries like technology, real estate, energy, and logistics. Roles such as Business Development Manager, Chief Commercial Officer, and Strategic Sales Director are in demand, with a premium placed on business development, key account management, and communication skills.

The IT sector, meanwhile, continues to evolve rapidly, with high demand for positions like Head of Software Development, Full-Stack Software Engineer, Agile Product Manager, Senior DevOps Engineer, and Digital Adoption Specialist. The report underscores the significant shift in the UAE talent market for digital professionals in recent years.

Navigating The Skills Shortage

The study also highlights the growing skills shortage, with businesses grappling to find candidates with the right expertise. A staggering 37% of business leaders reported challenges in finding skilled talent, while nearly a third (30%) struggled with employee retention. Nearly half (48%) of employers also cited aligning salary expectations with candidates as a key obstacle.

Ede suggests that businesses can overcome these challenges by offering competitive packages that include benefits, career development opportunities, and workplace incentives, positioning themselves as attractive employers in the competitive UAE job market.

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