John Patrick Hourican, Chief Executive Officer of the Bank of Cyprus, will retain his position at the helm of the Group for another two years, the bank has announced.
The decision was taken during Monday’s meeting between the Board of Directors.
Hourican will accordingly sign a new two year contract, effective from 1 February 2016.
“The Board of Directors,” a BoC statement reads, “would like to thank Mr. Hourican for his valuable contribution to the Group over the past two years and to wish him every success in his new term with the Group.”
Hourican announced his resignation from his post as CEO of the Bank of Cyprus in April of 2015.
“Hourican’s decision to leave the Group is a personal one and he intends to relocate to his home country, Ireland,” a BoC press release published at the time read. Without another job immediately lined up, the CEO was reportedly planning on spending more time with his family.
"I have been very proud to be part of the Bank of Cyprus family during this period and to have led this chapter in the Bank's rehabilitation," he said in a statement to staff.
Born in 1970 in Dublin, Ireland, Hourican graduated with a degree in Economics and Sociology from the National University of Ireland and a postgraduate diploma in Accounting from Dublin City University, befor beginning his career with Price Waterhouse, initially in Dublin, and later in London and Hong Kong.
Hourican was chief executive of Markets and International Banking for the Royal Bank of Scotland Group plc until 28 February 2013, resigning to "demonstrate responsibility", following RBS's £390 million fine for its involvement in the Libor scandal, although he was not personally implicated.
Appointed to the role of CEO of Bank of Cyprus in October 2013, Hourican publically stated that he would aim to rescue the bank within three to five years.
Hourican is also a fellow of Chartered Accountants Ireland.
The decision was taken during Monday’s meeting between the Board of Directors.
Hourican will accordingly sign a new two year contract, effective from 1 February 2016.
“The Board of Directors,” a BoC statement reads, “would like to thank Mr. Hourican for his valuable contribution to the Group over the past two years and to wish him every success in his new term with the Group.”
Hourican announced his resignation from his post as CEO of the Bank of Cyprus in April of 2015.
“Hourican’s decision to leave the Group is a personal one and he intends to relocate to his home country, Ireland,” a BoC press release published at the time read. Without another job immediately lined up, the CEO was reportedly planning on spending more time with his family.
"I have been very proud to be part of the Bank of Cyprus family during this period and to have led this chapter in the Bank's rehabilitation," he said in a statement to staff.
Born in 1970 in Dublin, Ireland, Hourican graduated with a degree in Economics and Sociology from the National University of Ireland and a postgraduate diploma in Accounting from Dublin City University, befor beginning his career with Price Waterhouse, initially in Dublin, and later in London and Hong Kong.
Hourican was chief executive of Markets and International Banking for the Royal Bank of Scotland Group plc until 28 February 2013, resigning to "demonstrate responsibility", following RBS's £390 million fine for its involvement in the Libor scandal, although he was not personally implicated.
Appointed to the role of CEO of Bank of Cyprus in October 2013, Hourican publically stated that he would aim to rescue the bank within three to five years.
Hourican is also a fellow of Chartered Accountants Ireland.
