Bank of Sydney has announced that its long-serving CEO, Miltos Michaelas, will be departing the Bank at the end of June 2023 to return to Cyprus after over six years in the position following his earlier tenure as CEO between October 2001 and July 2006.
Mr Michaelas has successfully guided the development of the Bank’s long-term strategic plan with a focus on driving internal efficiencies and the implementation of automation and digitisation projects. These initiatives will continue to drive better outcomes for the Bank’s people, its customers and its communities in the years to come.
The Bank’s Chairman, Nicholas Pappas said,“Miltos Michaelas has held the position of CEO, for over 6 years and has shown unwavering dedication and service. Most notably, Miltos successfully led the Bank through one of its largest transformational periods, the products of which will be continued and sustainable organisational growth. The Board conveys to him and his wife Despo its deep appreciation for all that has been achieved and wishes them well on their return to Cyprus.”
Mr Michaelas commented,“There is a strength in Bank of Sydney’s Board, Executive, people and operational capabilities. Bank of Sydney is in a strong position to achieve growth, and the timing is right for me to now focus on my family overseas.”
The Board, together with the Executive team, will focus on delivering a seamless transition. Bank of Sydney extends its gratitude and very best wishes to Miltos and his family for the future.