ATLANTA, Jan. 18, 2017 /PRNewswire/ -- "In response to media reports regarding holdings of Bank of Cyprus group by funds managed by WL Ross & Co. LLC and Wilbur Ross's role as the Vice-Chairman of Bank of Cyprus Group should he be confirmed as the Secretary of the United States Department of Commerce, WL Ross & Co. LLC confirms that Mr. Ross's confirmation will not impact the funds' shareholdings in the Bank.
WL Ross & Co. will remain actively involved with the Bank and is in discussions with the Bank regarding Wilbur Ross's replacement on the Board should he be confirmed.
WL Ross & Co. is pleased with the progress that Bank of Cyprus' management team is making regarding the execution of its strategy and looks forward to continuing to work together."
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SOURCE WL Ross & Co. LLC