CEO of bailed-out Cyprus' largest bank to quit for personal reasons, leaves in 4 months

Associated Press

The largest bank in bailed-out Cyprus says its top executive will leave his job in four months because of personal reasons and that he intends to move back to his native Ireland.

In a statement Tuesday, Bank of Cyprus said John Patrick Hourican has a contractual notice period of four months but remains at the disposal of the bank's board.

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Hourican, a former Royal Bank of Scotland executive, took the job in October, 2013 just as the bank was trying to stay on its feet in the wake of a multibillion euro rescue deal for eurozone member Cyprus.

Hourican told staff in an internal message obtained by The Associated Press that he's proud to have helped navigate the lender back to stability and wants to spend time with his family.