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.
