At Alpha Bank’s board meeting last Thursday, the bank’s historic president Mr. Yannis Kostopoulos submitted his resignation after almost four decades of creative leadership. His action, symbolic as any other, signals the end of an era.
Yannis Kostopoulos is not a typical div in the Greek economy.
Extroverted, austere, with certain beliefs and understandings, he practiced banking consistently and ethically.
He was never overswept by the power that managing money gave him; on the contrary, he aimed for efficient investments which contributed towards the country’s growth.
Along with Thodoros Karatzas he dreamed of the creating “national champions” and expanding Greek operations in the Southeastern Mediterranean.
He was a pioneer in the technological development of the banking system; he did not hesitate to fight for the implementation of economic freedom and healthy competition.
In other words, he is included amongst those who formed the country’s financial system and contributed immensely in the growth and development of powerful business groups.
So when a leader of the Greek banking and business world feels the need to retire, or rather retire to the rear, that means something.
Mr. Kostopoulos is calling everyone to follow his lead and give renewal a shot.
He is essentially signaling to the creators of the previous generations to trust the newer ones, to pave new paths, to not resist the huge changes that circumstances and the new times demand.
Truth be told, the crisis changed a lot and after all the suffering will continue to change the country.
We are at a turning point. Now that it seems that we have won the great battle to save the country, we need to mobilize new forces in order to win the battle for growth.
And Yannis Kostopoulos is showing the way.
Stavros P. Psycharis
Originally published in the Sunday print edition
