Eurobank EFG, the third largest bank in Greece, has promoted Demosthenes Arhontidis to head of private banking activities, with responsibility for expanding group activities in Greece, Luxembourg and new European markets. The Athens-based bank also promoted Daniel Manainoglou to head of private banking in Greece and Paul-Marie Majerus to head of private banking Luxembourg, according to Athens News Agency. Eurobank EFG is part of Spiro Latsis' group of companies and is a member company of the EFG Bank European Financial Group based in Geneva. Overall, group customer funds under management at Eurobank EFG expanded by 17.4 per cent year-on-year, reaching €52.4 billion ($78 billion) at the end of 2007. Private banking funds under management also grew by 13 per cent to reach €8.2 billion.