Bank of Sydney has announced that Nicholas Pappas (pictured left) has stepped down as chairman of its board after nearly 20 years of leadership, service, and contribution to the bank’s growth and success.
Nikolas Hatzistergos (pictured right), previously a non-executive director and chair of the audit committee, has assumed the role of chairman effective Aug. 27.
The leadership changes come as Australian banks continue to strengthen governance frameworks and board diversity in response to evolving regulatory expectations
The bank also confirmed new non-executive director appointments, subject to regulatory approvals: Kristina Keneally, Dunstan de Souza, and Diane Khoury. Bank of Sydney said the new directors bring a wide range of expertise and will further strengthen governance.
Pappas said he was proud to have overseen the bank’s transformation over the past two decades.
“I’m immensely proud to have guided Bank of Sydney through a period of significant growth and transformation over the past 20 years,” he said.
“I have great confidence in the appointment of Nikolas as chairman, whose longstanding service and deep understanding of the bank will provide continued strength and stability.
“Alongside the exceptional talent in Dunstan, Diane, and Kristina, I am confident the board will continue to steer the bank forward – always with our customers, our people, and our community at the fore.”
Hatzistergos acknowledged his predecessor’s contribution and welcomed the new directors.
“It’s with immense gratitude that we thank Nicholas Pappas for his leadership and dedicated tenure on the board,” he said. “It has been a privilege to work alongside him. I’m honoured to step into the role of chairman, and I look forward to guiding the bank through its next stage of growth and development.
“On behalf of the board, we also extend a warm welcome to Kristina, Dunstan, and Diane. Their expertise and diverse perspectives will further strengthen the Bank and enhance its governance practice.”
Hatzistergos brings more than three decades of executive leadership and corporate governance experience. He is currently executive chairman of William Buck (NSW), president of the Hellenic Club, and director of the management board and member of the governing council of Praxity (AISBL).
He also serves as director and chairman of the audit and finance committee for South Sydney District Rugby League Football Club (“The Rabbitohs”).
Get the hottest and freshest mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.
