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Bentley in Belgravia Shows Greece Is Good for Buyout CEO

Few financiers in London covet a job with a government-owned Greek bank. A glimpse of Pavlos Stellakis’s Bentley or his townhouse in Belgravia might have changed their minds.

For more than a decade, Stellakis has presided over a private-equity business for Greece’s oldest and largest lender. While the bank and the country’s economy spiraled toward collapse, he prospered. National Bank of Greece SA received its first state rescue in 2009, the same year Stellakis was awarded a $3.8 million bonus. Since 2010, he has earned at least 60 percent more annually in salary than the bank’s chief executive officer, according to company documents. The funds he oversees have underperformed most peers and delivered few profits, the documents show.