Ellinikon Project Developers Appoints Evi Kostaki as New CEO

LAMDA Development will appoint Evi Kostaki as chief executive officer on January 1, 2027, succeeding Odysseas Athanasiou, who will step down after 18 years in the role and 21 years with the company.

Athanasiou will leave the CEO position on December 31, 2026, after playing a central role in LAMDA’s growth and the development of the Ellinikon urban regeneration project in Athens. He will become an adviser to Consolidated Lamda Holdings (CLH) from January 1, focusing on relations with institutional bodies and government authorities.

The company’s board appointed Kostaki, an executive with more than 25 years of international experience, to lead its next phase of growth. She most recently served as Group Chief Financial Officer and a member of the Executive Board at Swiss banking group Julius Baer.

Kostaki brings extensive experience in financial management, strategy, mergers and acquisitions, asset management and business transformation. She served as Julius Baer’s Group CFO and Executive Board member from July 2022 to August 2026.

During Athanasiou’s tenure, LAMDA developed into one of southeastern Europe’s leading property development and management groups. The company increased its total assets fivefold to approximately €5 billion and quadrupled its net asset value (NAV) to around €1.5 billion.

Athanasiou also played a decisive role in securing and advancing the Ellinikon investment, helping the company overcome complex institutional, licensing, financing and construction challenges and launch what the announcement describes as Europe’s largest urban regeneration project.

He also strengthened LAMDA’s shopping centre and marina businesses after taking charge during the height of Greece’s financial crisis.

Latsis praises Athanasiou’s leadership

Dr Spyros Latsis said Athanasiou had played a pivotal role in shaping LAMDA into the company it is today, guiding it through major challenges ranging from the financial crisis to the undertaking and implementation of Ellinikon.

Latsis thanked Athanasiou for his contribution and the relationship of trust they had built over the years. He said Athanasiou’s continued involvement through CLH would allow the group to benefit from his experience and business judgement.

He also welcomed Kostaki, expressing confidence that her fresh perspective and leadership experience would support LAMDA’s next stage of development.

Stefanos Kotsolis, chairman of LAMDA’s board, also thanked Athanasiou for his dedication and leadership, saying he had helped establish a strong foundation for the company’s future. Kotsolis welcomed Kostaki and said the board looked forward to working with her to advance the company’s strategic priorities.

Athanasiou to retain his LAMDA shareholding

Athanasiou described his time at LAMDA as much more than the most significant chapter of his professional career. He said he had embraced Latsis’s vision and worked with the company’s employees to turn it into reality.

He called the project a life mission and said LAMDA had transformed itself through successive crises and exceptionally demanding conditions, bringing Ellinikon from a long-standing promise to an active development project.

Athanasiou said he believed the transition marked the right time to close one chapter and begin another. He also confirmed that he would retain his shareholding in LAMDA, citing his continued confidence in the company’s prospects.

Kostaki sets out priorities for LAMDA

Kostaki thanked the board and shareholders for their confidence and acknowledged Athanasiou’s contribution to the company’s development.

She highlighted LAMDA’s recurring revenue base from its shopping centres and marinas, while noting that Ellinikon was moving from construction towards the delivery phase. The company expects its first residents to arrive within the next two years.

Kostaki said her priorities would include maintaining the company’s momentum, meeting commitments to customers and the Greek state, fulfilling promises to local communities, growing shopping centre and marina revenues, and maintaining the financial discipline that has strengthened investor confidence.

She added that she looked forward to advancing LAMDA’s strategic vision alongside its team.

Evi Kostaki’s professional background

Kostaki served as Julius Baer’s Group CFO and a member of its Executive Board from July 2022 to August 2026. She previously held roles at the bank as managing director and deputy group CFO, deputy head of investment management and head of alternatives, and deputy head of corporate development and strategy.

Before joining Julius Baer, she served as director of corporate finance and business development at National Bank of Greece from January 2009 to July 2013. Earlier in her career, she held positions at Beltest Shipping Ltd., Eurobank EFG, Webster Financial Advisors, Morgan Stanley Asset Management and Merrill Lynch Investment Managers in Athens, New York and Connecticut.

Kostaki also served on the board of AMINA Bank AG, a Swiss-regulated cryptocurrency bank based in Zug, from May 2020 to April 2026. During that period, she chaired its Nomination and Compensation Committee from 2021 to 2022.

Her other board positions included Three Rock Capital Management, an Irish investment fund manager, from January 2020 to September 2022, and NSC Asesores, a Mexican wealth management firm, from January 2016 to February 2022.

Kostaki holds a master’s degree in public policy, specialising in finance, from the University of Chicago and a bachelor’s degree in social sciences and economics from the London School of Economics. She also holds the Chartered Financial Analyst (CFA) designation.

(Source: AMNA)

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