Paulson Fund Backs Embattled Piraeus Bank CEO as Shares Plunge
- Hedge fund tells Greek officials that Thomopoulos Must Stay
- Greek bank recap fund denies asking CEO to step down
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Paulson & Co. Inc. threw its weight behind Piraeus Bank’s chief executive officer after local media reported that Greece’s bank recapitalization fund was seeking his resignation.
The state-owned Hellenic Financial Stability Fund issued a statement denying that it has asked Anthimos Thomopoulos to step down after the hedge fund, Piraeus’s biggest private-sector shareholder, complained the move would violate the bank’s political independence.