International Swaps and Derivatives Association

Piraeus Bank, Greece's largest lender, has appointed George Handjinicolaou as its new board chairman, it said on Tuesday.

Handjinicolaou, who is taking over immediately, was most recently deputy chief executive officer at the London-based International Swaps and Derivatives Association (ISDA), Piraeus said in a statement.

By Marius Zaharia

Private holders of Greek default insurance could be in for a payout of over $750 million if Greece defaults on debt owed to the European Central Bank or other public-sector creditors, lawyers said.