Effective today, 1 November 2007, Mr Panayiotis Kanaris, who started his career with Bank of Cyprus in 1971, retires from the position of Group Auditor General. Mr Constantinos Tsolakkis is appointed as of today to the position of Group Auditor General. Mr Tsolakkis was the Manager of the Bank Supervision and Regulation Department of the Central Bank of Cyprus. He is a Chartered Accountant and holds a postgraduate degree in Business Administration.