S O C V ΓΡΑΦΕΙ ΤΗΝ ΙΣΤΟΡΙΑ nd W ΤΟΥ ΕΛΛΗΝΙΣΜΟΥ E ΑΠΟ ΤΟ 1915 The National Herald 10 2 N anniversa ry www.thenationalherald.com A wEEKLy GREEK-AMERICAN PUBLICATION 1915-2017 VOL. 20, ISSUE 1021 May 6-12, 2017 c v $1.50 Calamos-Exin Predicts Greece Agrees to New Bailout Terms and More National Insurance Greeks avoid another brush with Bid Hard to Match bankruptcy ATHENS (Reuters ) - An offer for man Sachs and Morgan Stanley, ATHENS, Greece (AP) — National Bank's insurance busi - is likely to make its decision on Greece struck a deal with rescue ness by Calamos and Exin will a buyer well before the dead - creditors Tuesday toward get - be hard to match, partly because line. ting the bailout cash it needs to of the cultural and commercial "We know the insurance mar - avoid another brush with bank - links they have with Greece, the ket and we know Greece. We ruptcy this summer, though it investment duo's chief execu - are long-term investors and will leaves long-suffering Greeks fac - tives said. be in Greece to stay," Koudounis, ing years more austerity. The pair are up against three whose Calamos fund has $20 Following months of tough Chinese groups looking to buy billion under management, said. negotiations, the Greek govern - at least 75 percent of National "We are very confident that ment agreed to make another Bank's (NBGr.AT) insurance unit the entire package we bring to round of pension cuts in 2019 as part of a regulator-approved the table in this process will be and commit to new tax in - restructuring plan by Greece's unmatched," he said, adding creases after the current bailout second-largest lender by assets that the deal is being closely program ends next year. to exit non-banking operations. watched by other prominent In return, creditors will re - John Koudounis, CEO of Greek-American investors who sume loan payouts, and start Chicago-based Calamos Invest - were "ready to pile in" to talks on how to ease the coun - ments, reckons a Greek-Ameri - Greece. try's debt burden, which stands can background is a major ad - MONEY IN, NOT OUT at nearly 180 percent of the vantage in taking on Chinese Exin Partners, a Netherlands- country's annual GDP. groups Fosun (0656.HK), based investor focused on insur - The need for an imminent re - Shanghai-based Gongbao and ance, reinsurance and asset lease of bailout funds was be - Wintime to buy National Insur - management, bought insurer coming increasingly important ance. AIG-Greece from AIG in Decem - — Greece is expected to require Greece's oldest insurer, which ber, partnering with founders some 7 billion euros ($7.6 bil - was founded in 1891, provides Canellopoulos Adamantiadis In - lion) to cope with a summer life and non-life insurance prod - surance Agency. TNH/THEODORE KALMOUKOS spike in debt repayments. ucts, had a 16.6 percent share "We aim to bring investment Hellenic Pride on Parade in the USA Prime Minister Alexis Tsipras' of the market last year and 2015 into the country, not take money left-wing government is set to net profit of 98 million euros. out," Matt Fairfield, founder and Young parade participants in the traditional tsolia costume on a float at the Greek Independence approve the new cuts in parlia - Greek media have reported co-CEO of Exin Partners, said. Parade waved flags for the homeland. See the related story below and on page 2. ment by mid-May, in time for fi - that the deal, which has to close Mergers and acquisitions nance ministers from the 19 by year-end, could be worth picked up in Greece last year, countries that use the euro cur - around 800 million euros. NBG, but remained at low levels as rency to unfreeze the money at which is being advised by Gold - several privatizations were de - a meeting on May 22. At that layed, according business con - Grigos Named CEO of Bay Ridge Bank meeting, discussions over how sultancy PricewaterhouseCoop - to ease Greece's debt repay - ers. ments will commence — a key There were 38 M&A deals in By Demetris Tsakas niormost executives, having Vice President of JP Morgan milestone for Tsipras. Greece in 2016, nearly tripling worked there for 53 years. Ac - Chase’s IT division. He also has Two years ago when the in value to 4.4 billion euros BAY RIDGE – Bay Ridge Federal cording to BRFCU’s press re - years of experience in the real country was on the cusp of a from 1.4 billion in 2015, with Credit Union (BRFCU) execu - lease, Brody will remain with estate and mortgage industries. euro exit — so-called Grexit — 75 percent made up of the sales tive VP Anthony Grigos has be - the organization, in the treasury Grigos was born in 1965 in Tsipras signed off on the coun - of Greek banks' non-core assets. come the bank’s President and and as chief strategist. Brody the village of Vrondados on the try's third international bailout. Other Greek banks have been Chief Executive Officer. praised Grigos and said, among Greek island of Chios and came In return for up to 86 billion eu - divesting non-core assets and He succeeds Gene Brody, other things, that “the time has to the United States at age ros over three years, his govern - foreign subsidiaries. Eurobank who brought him onto the come to hand over the reins.” three. His parents, Kostas and ment, which was elected on an (EURBr.AT) has sold an 80 per - Board of Directors approxi - Grigos expressed his grati - Lemonia (Kalamotousis) are anti-bailout mandate, agreed to cent stake in its insurance unit mately five years ago, and one tude, saying “it is an honor that from Vrontados and Kallimasia, further austerity and reforms. Eurolife to Canada's Fairfax Fi - year later entrusted him with comes with great responsibility also on Chios, respectively, and The money is only released after nancial Holdings (FFH.TO) for the executive vice presidency to become President/CEO of besides Grigos, they have two creditors agree that Greece has 316 million euros. and with the responsibility for BRFCU. And I am confident of other children: Ioanna and met its side of the bargain. Calamos-Exin is also looking leading (BRFCU) into the new the years that lie ahead for our Manolis. Though increasingly unpop - TNH ARCHIVES era. credit union.” John Calamos. Continued on page 8 Brody is one of the bank's se - Previously, Grigos served as Continued on page 4 Continued on page 9 Catsimatidis Says No to Zeus+Dione Bring Greek Fashions to Bergdorf Mayoral Run, Citing By Demetris Tsakas NEW YORK –On April 29, Difficult to Beat Incumbent Greek fashion was on display at the Bergdorf Goodman depart - ment store in Manhattan, as the TNH Staff seat incumbent Bill de Blasio, Greek company Zeus + Dione the New York Post reported. (ZD) showed their line of NEW YORK – Greek-American Four years ago, Catsimatidis ran women's clothing and hand - billionaire businessman John in the Republican primary. bags. Catsimatidis announced on In a statement, Catsimatidis The models presented the Monday, May 1 that he will not said “I have often said I have clothes and handbags, which run for mayor of New York City. one more race for office in me. impressed the discerning shop - He said it will be difficult to un - But, after careful consideration pers, who had the opportunity and consultation with my fam - to view the collection and talk ily, friends and advisers, I have with ZD co-Founder and Direc - decided the 2017 race for Mayor tor Mareva Grabowski-Mitso - of New York will not be it. It takis and her colleagues, who Buying and was a tough decision to make came exclusively for the show because I truly love this city and from Greece. Mitsotakis is the its people. My decision was wife of New Democracy leader Cooking in based in part on the fact that Kyriakos Mitsotakis. the power of an incumbency is ZD handbags’ accessories can extremely hard to defeat.” change only the strap and create Bulk The owner of the Gristedes the impression of wearing a to - supermarket chain, Catsimatidis tally different bag. The bags and has increased his fortune in the accessories are also named for By Eleni Sakellis oil production/energy business mythological subjects and for as well. places in Greece. Saving food is probably not There is little opposition to de Mitsotakis impressed every - very high on many people’s list Blasio in the Democratic primary one with her humility and will - of priorities, but it should be. field, but there are three Repub - TNH/COSTAS BEJ Food waste is a terrible problem licans looking to win their party’s Continued on page 4 Zeus + Dione co-founder and director Mareva Grabowski-Mitsotakis. throughout the world and it is nomination. Real estate execu - a particularly heinous problem tive Paul Massey, Harlem pastor when so many people go hungry Michel Faulkner, and Staten Is - even in developed countries and land Assemblywoman Nicole here in the US. With Mother’s Malliotakis all announced they New England Celebrates Greek Independence Day coming up, here are sensi - would be running for mayor. ble, money-saving, and mom- Also seeking the GOP nomina - approved tips for buying and tion is Independent Bo Dietl. By Theodore Kalmoukos land (HASNE). At approxi - conditions. cooking foods in bulk. When announcing her bid, mately 1:45, a strong rain - Mayor Walsh, Metropolitan Shopping in bulk rather than Malliotakis said, as reported in BOSTON, MA – The Greek In - shower ruined the Parade, al - Methodios of Boston, Central buying prepackaged quantities the New York Times, “My inten - dependence Parade on April 30 though many marchers Greece Governor Kostas Bakoy - allows the consumer to buy as tion is to run, unless my good in Boston began beneath a pris - including Greek School students annis, and Consul General of much or as little as needed, friend John Catsimatidis jumps tine blue, sunshine-covered sky, continued to march, praising Greece in Boston Iphigenia Ka - making it easy to experiment into the race.” but ended in rain that was not Greece and the Greek-American nara were the Grand Marshals.