The Greek government named former banker George Michelis as chairman of the country's bank rescue fund on Monday, which has been without a head since the resignation of both its chairman and chief executive earlier this year. The Hellenic Financial Stability Fund (HFSF), financed by the country's bailout package, is the rescue vehicle that recapitalised Greece's big banks and covered the costs of winding down others deemed non-viable. Michelis has held a series of posts in the banking industry, including CEO at Bancpost, a Romanian subsidiary of Eurobank , and chief operating officer at Egnatia Bank, where he was a founding member.
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