Following his appointment as U.S. commerce secretary, Wilbur L. Ross Jr. recently resigned from his role as a member and vice chairman on the boards of directors for the Bank of Cyprus Holdings Public Limited Co. and the Bank of Cyprus Public Co. Limited.
 
Ross had served on both boards since 2014. His membership position on each board will be filled by James B. Lockhart III pending approval from the European Central Bank.
 
Lockhart, who earned a bachelor’s degree from Yale University and an MBA from Harvard University, has extensive private and public sector experience. He held senior positions at NetRisk, National RE, Smith Barney, Pension Benefit Guaranty Corp., Alexander & Alexander Services and Gulf Oil Corp. In public service, he held several positions between 2002 and 2009, including director and chairman of the Federal Housing Finance Agency Oversight Board and director of the Office of Federal Housing Enterprise Oversight.
 
Since 2009, he has served as vice chairman of WL Ross & Co. LLC and is a member of the company’s Investment Committees and Management Committee.
 
Upon ECB approval, Lockhart will serve on the Bank of Cyprus boards, as well the Nominations & Corporate Governance Committee and Risk Committee.