Ackermann

Bank of Cyprus, the East Mediterranean island's largest lender, said Tuesday it would apply for a listing on the London Stock Exchange as part of its restructuring drive.

"We are delighted to be applying for a listing on the London Stock Exchange, which marks another significant step in the bank's transformation," said BoC chairman Josef Ackermann in a statement.

By Maria Petrakis

Josef Ackermann used his clout as head of Deutsche Bank AG to help save the euro by negotiating the biggest debt restructuring in history. Now, he's been tapped to resuscitate a victim of that deal.

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 Ex-Deutsche Bank CEO Josef Ackermann outlines where the eurozone got it wrong and right

By Costas Karkagiannis

Former Deutsche Bank CEO Josef Ackermann has been nominated as chairman of Bank of Cyprus, its US-based investors Wilbur Ross and Tyrus Capital said on Monday.