Cyprus-based Hellenic Bank puts CEO on compulsory leave amid investigation

CEO of Nicosia-headquartered Hellenic Bank Oliver Gatzke has been placed on compulsory leave by the board of directors pending an investigation into allegations of statements and actions attributed to him.

In a statement on 10 October to the Cyprus stock exchange, Hellenic Bank announced that "in view of certain investigations being undertaken in relation to alleged statements and actions of the Chief Executive Officer (CEO), the Board of Directors of the Bank has decided, in order to ensure the smooth conduct of the said investigations, that it is proper that the CEO abstains from his duties until the completion of the said investigations".

Petros Arsalides, company secretary and general manager, chairman's office & company secretariat, will be performing the duties of the CEO during the absence, it further said.