Source: cyprus-mail.com
George Karatzias is set to return to the Cyprus Securities and Exchange Commission (CySEC) as its new chairman, just over two years after leaving the regulator to join the Central Bank of Cyprus (CBC).
According to information published on Wednesday, Karatzias has been selected to succeed George Theocharides, who has headed the securities watchdog since September 2021. The appointment, however, has not yet been formally announced.
For Karatzias, the move would mark a return to familiar ground. He served as CySEC vice-chairman from September 2021 until May 2024, when he left the Commission to become an executive member of the CBC’s board.
Karatzias was appointed to the CBC board in May 2024, where he has since been one of its executive members.
Before entering public-sector financial supervision, he led the Cyprus fund services operation of Alter Domus, which he joined in 2011, remaining there until the end of 2020.
Earlier in his career, he worked for international audit firms after entering the profession in 2006.
Karatzias has also been closely involved with Cyprus’ investment funds industry. He was elected to the board of the Cyprus Investment Funds Association (CIFA) in 2019 and served as vice-chairman of its Fund Administrators Committee until September 2021.
In addition, he served for two terms on the Funds Committee of the Institute of Certified Public Accountants of Cyprus (ICPAC).
He is a Fellow of ACCA and holds a master’s degree in Marketing and Financial Services from the University of Exeter.
Meanwhile, Loukas Lagoudis is expected to be appointed as CySEC’s new vice-chairman.
Lagoudis has served as a member of the regulator’s board since October 9, 2024, according to his CySEC profile.
He has extensive experience in investment management and financial services, having worked at London-based investment banks including Credit Suisse, Standard Chartered and HSBC, as well as in asset management as a risk manager and portfolio manager.
His background also includes blockchain technology, having completed executive education in Blockchain Strategy at Oxford University. He holds a bachelor’s degree in Physics and a master’s degree in Risk Management.
If his appointment as vice-chairman is confirmed, it would also mean a change to CySEC’s current leadership structure, as Vakkou has held the position since May 29, 2024.
Under CySEC’s governance framework, the Commission is run by a seven-member board, comprising a chairman, vice-chairman and five non-executive members.
Both the chairman and vice-chairman serve on a full-time and exclusive basis. Board members are appointed by the Council of Ministers, following a proposal from the Finance Minister, for five-year terms that may be renewed once.
The formal announcement on the new leadership is expected following the Cabinet decision.