George Koutsos was appointed as the new Deputy Chief Executive of the Hellenic Financial Stability Fund (HFSF). The Greek Finance Ministry said he would replace Marios Koliopoulos. Koliopoulos resigned from the deputy chief executive position in July. Before Koutsos' appointment, he was the Head of Investments at HFSF. He joined the HFSF in 2011.

Koutsos worked at the National Bank as the Head of Mergers, Acquisitions and Capital Markets before serving the HFSF. The National Bank is the biggest lending institution in the country. Prior to that, he had logged work experience with the BostonConsultingGroup.

The HFSF is a bank rescue fund. It was created by the government to recapitalize the main banks of Greece. It also took care of closing down other lenders who were found to be non-viable. Greece's European Union/International Monetary Fund bailout infused EUR 50 billion or USD 66.1 billion into the HFSF.

The bank rescue fund which Koutsos now heads had already spent EUR 40 billion from its coffers and owned majority shares in Greece's four main banks.