The appointment on Thursday of Constantinos Herodotou to succeed Chrystalla Georghadji as governor of the Central Bank of Cyprus is seen by many observers as a natural development as he has been the second in command at the supervisory authority in recent months, particularly after the departure of the second executive director George Syrihas.
Herodotou graduated from University College London (UCL) in 1996 with a BSc in economics (First Class Honours and university award). In 2001, he graduated with distinction from London Business School with an MBA in management (top 10% of his graduating class).
He then worked for UBS Investment Bank in London, rising to become manager there for shipping for Europe, Middle East and Africa and head of project financing for Central and Eastern Europe.
Among other. he has extensive experience in leading complex negotiations, mergers and acquisitions, listing of companies (NASDAQ and NYSE), bank financing and bonds, company and financial restructuring and project financing.
He was appointed privatisation commissioner in June 2014 after an international competition remaining in the post until March 2017 when, soon after the privatisation unit was dissolved, he was appointed executive director of the Central Bank.
Speaking to Reuters in 2018, Herodotou spoke of a significant drop in Russian deposits in Cyprus as a result of tougher rules on transparency and the fight against money laundering.
More recently, he told the 17th Annual European Financial Services that for a single capital market to bring the desired results there must be benefits for SMEs which are the backbone of the European and Cypriot economies.