In this speech Mr Costas P. Michaelides discussed the transformation necessary for Greek Banks, for Greek institutions, and for key elements of the European Union. 

Greece’s Odyssey continues. The journey, however, still remains long and full of adventures ahead. In the last several months, economic conditions are improving slowly. There is a glimpse of hope ahead. The real optimism lies in the potential of Greek institutions to learn lessons from what happened and to grip the opportunity to transform. Now more than ever transformation is an imperative and a future leading strategy. The same holds true for the banking sector. There has never been a time of such change in the financial services industry, nor such a wave of innovation and renewal. This speech addressed transformation as a concept and a process, offers a model to deliver effective transformation and presents the type of leadership that inspires transformation and operationalizes it. The end game of all these players requires a transformation model, a plan, and a shared vision. Finally, given that a successful transformation fundamentally alters the trajectory of any entity, it should not be considered as onetime event but an ongoing process of evolution in a world of perpetual change.

Mr. Costas P. Michaelides holds the position of the Chairman of the Board of Directors of Νational Bank of Greece (N.B.G.). He is also a member of the Board of Directors of the Hellenic Bank Association. He has extensive experience in the international banking and finance sector. His latest position was Global Head of Strategic Change of UBS Group. For many years he served as Regional Chief Operating Officer of Credit Suisse Group (EMEA). He also held the same position at Credit Suisse First Boston (EMEA). He has held senior positions in other international banking and finance groups, such as Merrill Lynch Europe, Donaldson, Lufkin & Jenrette International and Salomon Brothers International. Mr. Costas P. Michaelides has a BA in Economics and Political Science and an M.A. Ph.D. Economics and International Affairs from University of Denver. He also holds an M.B.A. in Finance from Columbia University.

Professor Kevin Featherstone is the Hellenic Observatory Director,  Eleftherios Venizelos Professor of Contemporary Greek Studies and Professor of European Politics at the London School of Economics.

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