Project Description:

The Hellenic Financial Stability Fund (the Client) has requested the European Bank for Reconstruction and Development (the EBRD or the Bank) to provide technical assistance for undertaking a review and evaluation of the boards of directors and boards' committees of the four largest banks in Greece (ie Alpha Bank, Eurobank, Piraeus Bank and National Bank of Greece), according to Article 10 paragraphs 5-9 of Greek law 3864/2010, as applicable (the HFSF Law), (the Project).

Assignment Description:

The Client now intends to retain a consulting company of international reputation and established experience and expertise (the Consultant) specialised in board review and evaluation of banks, with consolidated proven experience in board evaluation of systemically important banks in the Euro area; previous experience in advising regulatory and supervisory authorities; detailed knowledge of the EU framework regulating corporate governance of banks, EU supervisory practices and – ideally - the ECB SSM Supervisory Manual in order to implement the Project (the Assignment).

The expected outcome of the Assignment is to ensure that banks' boards and committees are set up and operate adequately not only in line with the best international practices but also under the special situations of the Greek banking sector, which faces very high non-performing loans and a difficult economic environment. The findings of the review should lead to changes in the banks' operational structure, boards’ composition and size according to the procedure of Article 10 paragraph 9 of the HFSF Law.

The selected Consultant is expected to provide the following services:

1. Draft the evaluation criteria and target skills/profile for each role within the board and committees of the four banks.

2. Undertake in full independence the evaluation and review of the governance structure of each of the four Banks, based on the final evaluation criteria, target profiles and international best practice, and provide specific recommendations for improvement action with indicative implementation time.

3. Draft, present and submit an evaluation report and recommendations.

Details here: http://www.ebrd.com/work-with-us/procurement/p-pn-hellenic-financial-stability-fund---4-banks.html