Head of Legal Services | Eurobank Cyprus

Andreas Petasis
Head of Legal Services | Eurobank Cyprus
Team size: 15
How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure organisational resilience
From a legal perspective, there will, inevitably, be periods of instability or crises where the organisation faces circumstances that are difficult to anticipate or manage through the usual processes. The COVID-19 pandemic is a good example of this, where organisations had to respond rapidly to changing legal, regulatory and operational circumstances. In such situations, the objective is to manage the risks as effectively as possible, provide clear and practical guidance, and remain sufficiently agile to adapt as circumstances develop. In my view, I believe that with experience, you become better equipped to recognise emerging risks and understand what is required from a legal perspective. Ultimately, organisational resilience comes from being prepared to respond to uncertainty, learning from previous periods of instability, and ensuring that legal and risk considerations are embedded into the broader strategic decision-making process.
How do you balance being a legal risk manager with being a strategic business enabler, and where do you see the biggest tensions?
Being a legal manager comes with a significant number of responsibilities and obligations towards the organisation. The role requires a careful balance between identifying and managing legal and regulatory risks while, at the same time, acting as a strategic business partner and supporting the organisation in achieving its strategic and business objectives. Being a trusted legal manager also requires the ability to be appropriately vocal and independent when a particular course of action presents legal or regulatory concerns. At the same time, the role should be solution-oriented. For example, where there is room for interpretation, mitigation, or alternative structuring, the legal manager should work closely with the business of the organisation to identify practical solutions and, where possible, find a reasonable middle ground. Ultimately, the balance lies in maintaining the necessary level of independence and professional judgment while avoiding a perception that the legal function is simply a barrier to business. The objective would be to enable the organisation to take informed decisions and appropriately manage any potential risks. In most instances, tensions can be avoided through good communication, transparency, and a shared understanding of the organisation’s objectives and risk appetite. Where there is a difference of view, I would seek to explain clearly the legal or regulatory considerations, while also listening to the business perspective and exploring whether there are alternative solutions or mitigations that could accommodate the business objective. This approach also depends on a strong relationship of trust between legal and the wider business. There should be a common understanding that the legal manager’s role is to protect the organisation while also helping it achieve its strategic objectives.
Head of legal services | Eurobank Cyprus Ltd
Head of legal | Eurobank Cyprus
Head of legal services | Eurobank Cyprus
Head of legal services | Eurobank Cyprus
Head of legal services | Eurobank Cyprus
Andreas Petasis joined Eurobank Cyprus as the sole internal lawyer following its inauguration in 2007, and within three years was promoted to the position of head of legal services, assuming...