January 25, 2021

Alpha Bank appoints new COO in Stefanos Mytilineos

Alpha Bank, the second-largest bank in Greece by assets, has a new chief operating officer (COO).

Stefanos Mytilineos, Alpha Bank COO

Stefanos Mytilineos joined the bank this month, after four and a half years as a general manager at compatriot and competitor, Piraeus Bank.

Mytilineos has also worked at Commercial Bank and Eurobank, both times as a chief information officer (CIO).

Alpha Bank reported its Q3 results in November, showing a drop in profits compared to Q2.

The bank, which is 11% owned by the Greek bank rescue fund, posted a net profit of €43.8 million, compared to $97 million in the prior quarter.

Alpha selected US investment fund, Davidson Kempner, to purchase $12 billion in non-performing loans.

The sale is Greece’s largest-ever sale of bad debt, according to Reuters. The portfolio also includes Alpha Bank’s Cepal loan servicing unit.

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