Following the resignation of Mr Kikis Kazamias, Mr Vassos Shiarly has been appointed Minister of Finance of the Republic of Cyprus on 23 March 2012. He also becomes EIB Governor for the Republic of Cyprus.

Prior to his appointment in the Government, Mr Shiarly was from May 2010 Group Chief General Manager at Bank of Cyprus Group where he held various positions from 1985 including Senior Manager of the Customer Management Services Unit, Group General Manager Branch Banking, Group General Manager Domestic Banking and Senior Group General Manager.

Previously, Mr Shiarly, born in 1948, worked for 19 years in various accounting firms in London and was Senior Manager at Coopers & Lybrand before his return to Cyprus in 1985.

Mr Shiarly was elected Chairman of the Board of Directors of the Association of Cyprus Banks for the period 2009-2010. In November 2011, he was elected Chairman of the Health Insurance Organisation in Cyprus.