The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Minos Zombanakis, Chairman, Group for International Study & Evaluation

Minos Zombanakis is a pivotal figure in the history of the Euromarket. Known in the 1970s simply as "the Greek banker" (he was reckoned to be the only one of any note on the international scene), he was a combination of financial visionary, smooth salesman and masterful self-promoter. As one rather hostile magazine article remarked about his assault on the syndicated loans market: "It was one part nerve, one part histrionics and several parts pure fluff, but it did the job."

When Zombanakis established Manufacturers Hanover in London in 1969, the Eurodollar syndicated loan market was just getting off the ground. But so quick was he to latch onto it that he was subsequently seen as its inventor, even though an international syndicated credit had been put together for Austria at least a year earlier.

Zombanakis, however, was certainly the first banker to make full use of syndicated loans. Within a few months he was raising substantial amounts for Iran and Italy, beginning with the ground-breaking $200 million five-year loan to the state-owned financial agency Istituto Mobiliare Italiano (IMI) in 1970, with the interest rate recalculated every six months at 0.75% above the prevailing interbank rate.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree