NEW YORK, Nov. 21, 2014 /PRNewswire/ -- WL Ross & Co. LLC announced today that its Chairman and Chief Strategy Officer, Wilbur L. Ross, has been elected as Vice Chairman of Bank of Cyprus, serving under the bank's newly elected Chairman, Dr. Josef Ackermann, formerly CEO of Deutsche Bank. Mr. Ross said, "I am delighted to help Chairman Ackermann and President and CEO John Hourican revitalize this institution." He added, "The new European rules limiting directorships of bank officers require that I resign from several other Boards of Directors, including Assured Guaranty Ltd., International Automotive Components Group, International Textile Group, NBNK Ltd., Navigator Holdings Ltd., Ocwen Financial Corp. and Talmer Bancorp Inc. It has been an honor to serve on these boards."
SOURCE WL Ross & Co. LLC