Cyprus appoints banker Patsalides as Central Bank governor

Career banker Christodoulos Patsalides was appointed governor of the Central Bank of Cyprus on Monday for a five-year term, the island’s presidency said.

Patsalides, who will represent Cyprus on the rate-setting Governing Council of the ECB, takes up his duties on April 11, replacing Constantinos Herodotou.

Patsalides has been an economic adviser to Cypriot President Nikos Christodoulides for the past year, and prior to that headed his economic policy unit in the run-up to elections Christodoulides won in February 2023.

A London School of Economics graduate, he spent an early part of his career at the Cypriot central bank before moving into commercial banking at Bank of Cyprus.

Patsalides worked through the treasury department to become an executive member of its board and a first deputy CEO before going into consulting in 2020. [Reuters]