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Eurobank Managers Take Pay Cuts

Eurobank's high level management staff, among them the general managers of the management board have agreed to accept a proposal by CEO Hristos Megalou for a decrease of 17% in pay.

The decrease includes the CEO and 10-15 other senior staff, essentially, the people running the bank. Sources from the bank note that this is not a harbinger of across the board cuts, but notes that management will do all it can to attain set targets.

Meanwhile, a bank management team led by the CEO is in the USA participating in a “Citi” roadshow in an effort to find investors and cover the sum total of an upcoming capital increase totaling around 2 billion euros.