Executive Board

Chief Executive Officer
Deputy Chief Executive Officer
Mr. Eric Tourret was Ernst & Young’s Transaction Advisory Services partner in Greece for the last eight (8) years where he lead a team of transaction professionals dedicated to the Financial Services sector across the Central and Southeast Europe region. He has wide experience in the fields of transaction, primarily financial due diligence on cross boarder acquisitions, mergers, non-core assets disposals, post-merger integration, operational restructurings, asset quality reviews and non-performing loans resolutions. Prior to this position Mr. Tourret held the position of Transaction Advisory Services Assistant Director at Ernst & Young in London, with main duties cross border and multi-disciplinary buy side and sell side due diligence projects in Europe for major financial institutions and private equity funds.

He served as Vice President at JP Morgan in London, where he was project leader in charge of the review, design and implementation of a new operating model of the middle and back office functions. From 1994 until 1998 Mr. Tourret was appointed Audit Manager at Andersen, based in Paris and London, where he led advisory projects focused on finance, middle and back office functions of various banks in France and in the UK. He worked also as inspector at Credit Mutuel Bank focused on assessment and reporting of credit risks and on-site inspection of regional banks in France.

Mr. Tourret holds a Master of Science (M.Sc) in Audit Finance with honors from Lille Business School, France and a Master of Arts (MA) in Business Management from Lille University, France. He also holds a Baccalaureat in Economic Sciences from Boulogne sur Mer France, France. He is fluent in French and English.


Members – Term

The Executive Board shall consist of three members, two of which, including the Chief Executive Officer, shall be persons with international experience in banking matters or in matters relating to the resolution of credit institutions and one of which shall be a person nominated by the Bank of Greece. One executive member will be assigned the task to enhance the role of the Hellenic Financial Stability Fund (HFSF) in facilitating the resolution of NPLs of the credit institutions in which the Fund participates.

The members of the Executive Board shall be selected by a Selection Panel (article 4A of Law 3864/2010) following a public call for expressions of interest and appointed by a decision of the Minister of Finance. Their appointment cannot extend beyond June 2020 (Paragraph 6 of article 2 of Law 3864/2010, as amended). Any vacancy on the Executive Board shall be filled within sixty (60) days, that can be extended if needed for another thirty (30) days, by the appointment of a new member, under the provisions of the aforementioned article 4A , to serve the remaining term of the departed member. Appointments of member of the Executive Board including its respective remuneration shall require the prior agreement of the Euro Working Group Working Group.


The Executive Board shall be charged with the preparation of the HFSF’s tasks and the implementation of its decisions its competent bodies and conduct of its operations necessary for the administration and operation, as well as for the fulfilment of its objective.

The Executive Board has indicatively the following powers and tasks:
  1. Proposes to the General Council on the issues that the General Council decides according to Article 4 under the paragraph 9 of Law 3864/2010.
  2. Implements the decisions of the General Council taken either upon or without proposal from the Executive Board.
  3. Takes all actions required or deemed advisable for the administration or operations of the Fund, including the Fund’s powers and responsibilities under Article 2 of Law 3864/2010, procurement of goods and services, entering into contractual commitments on behalf of the HFSF, appointing the staff and advisors of the Fund, and generally representing the HFSF.
  4. Delegates any of his powers or tasks to any of its members or to the HFSF’s cadres, in accordance with the general terms and conditions adopted by the General Council and with due consideration to the avoidance of conflicts of interests, provided that the Chief Executive Officer shall primarily exercise his powers pursuant to the provisions of the HFSF Law. The Executive Board appoints a group to assist the tasks of the member of the Executive Board who has been assigned the task to enhance the role of the HFSF in facilitating the resolution of Non-Performing Loans.
  5. Has such other powers and tasks as explicitly granted by this Law or any other law.
  6. Represents judicially and extra-judicially the HFSF and binds it towards any third party.
  7. Exercises any other power which is not expressly granted to the General Council.


The Executive Board shall meet as often as the business of the HFSF may require but not less than once a week. Meetings of the Executive Board shall be called by the Chief Executive Officer or, in his absence, by the person replacing him, who is the other member of the Executive Board, referred to in the second subparagraph of paragraph 3 of Article 4 of Law 3864/2010, as amended. Two members shall constitute a quorum for Executive Board meetings. Each member of the Executive Board shall have one vote. Save as otherwise provided in this Law, decisions shall be adopted by a majority of two (2) members present at the meeting.


The remuneration and compensation of members of the Executive Board:
  • Shall be determined by the Selection Panel decision and shall be stated in the legal instruments relating to their appointment and shall be disclosed in the HFSF’s annual report.
  • Shall be such that qualified and expert persons can be recruited and retained.
  • No remuneration or compensation shall be based on the HFSF’s profits or any of its revenues.