**Finance Minister Meets New CySEC Leadership as Contracts are Signed**
On Tuesday, Finance Minister Makis Keravnos met with the newly appointed leadership of the Cyprus Securities and Exchange Commission (CySEC) to formalize their roles within the regulatory body. Chairman George Karatzias and Vice Chairman Loukas Lagoudis signed their contracts during the meeting, marking the official start of their responsibilities at CySEC.
The appointments of Karatzias and Lagoudis took effect last week, following a Cabinet decision made on September 15. This decision also included the appointment of Andrea Moundis Savvides as a new board member. The Finance Ministry emphasized that this signing represents a new chapter for CySEC, which plays a crucial role in overseeing Cyprus' capital market.
In his remarks, Minister Keravnos expressed his confidence in the new leadership, stating, “I wish Karatzias and Lagoudis every strength in their new duties, and the Finance Ministry remains at their disposal to support their work.” He highlighted the importance of CySEC's role in protecting investors and maintaining trust in the financial system.
CySEC operates as an independent authority tasked with supervising the capital market in Cyprus. Its mandate includes safeguarding market integrity and ensuring investor protection, while also collaborating closely with the Finance Ministry to fulfill its responsibilities as outlined in relevant legislation.
George Karatzias, who previously served as CySEC's vice chairman from September 2021 until April 2024, expressed his commitment to the role of chairman. He noted that leading the commission is both an honor and a significant responsibility. “Assuming the presidency of the Cyprus Securities and Exchange Commission is both a distinct honour and a significant responsibility, which I undertake with a full appreciation of the Commission’s role and mission,” Karatzias stated.
He emphasized the evolving nature of financial markets and the increasing importance of CySEC's role in ensuring transparency and integrity. Karatzias outlined his priorities, which include modernizing supervision, enhancing investor protection, and fostering an environment that encourages transparency and sustainable development within the capital market. He committed to working collaboratively with Lagoudis, the board, and CySEC staff to strengthen the institution and uphold the credibility of the Cypriot capital market.
Vice Chairman Loukas Lagoudis brings a wealth of experience to his new position. He has held various senior roles in banking, blockchain advisory, and investment management. Before his appointment as vice chairman, Lagoudis served as a non-executive board member of CySEC since October 2024. His previous experience includes significant positions at international financial institutions in London, such as Argo Capital, Standard Chartered, Credit Suisse, and HSBC Asset Management.
Lagoudis holds a Master of Science in Risk Management from Southampton University and a Bachelor of Science in Physics from Aristotle University of Thessaloniki. He also completed the Blockchain Strategy Programme at the University of Oxford’s Saïd Business School in 2018.
Karatzias and Lagoudis's appointments come at a time when the regulatory landscape is evolving, and the need for robust oversight is more critical than ever. Their combined expertise and commitment to investor protection and market integrity are expected to guide CySEC through the challenges and opportunities that lie ahead in the capital markets.
As the new leadership steps into their roles, the Finance Ministry and the wider financial community will be closely watching how CySEC adapts to the changing market dynamics and enhances its regulatory framework to ensure a stable and transparent financial environment in Cyprus.