LAMDA Development has appointed Evi Kostaki as its new chief executive officer to succeed Odysseas Athanasiou, the Greek real estate developer announced.
Athanasiou will step down from the chief executive role on December 31, 2026, ending an 18-year tenure in the position and a total of 21 years with the group. Kostaki will assume her new duties the following day, on January 1, 2027.
Kostaki joins the Athens-listed developer as a senior international executive with more than 25 years of professional experience. She most recently served as group chief financial officer and a member of the executive board at Swiss private banking group Julius Baer. Her background includes extensive work in financial strategy, mergers and acquisitions, capital management, and large-scale corporate transformation.
LAMDA Development, which is listed on the Athens Exchange, is the largest real estate developer in Greece and is backed by the Latsis family. The company operates major retail destinations across Athens and Thessaloniki, manages prominent yacht marinas along the Aegean coast, and leads landmark residential and commercial projects.
Leadership Transition and Asset Growth
During the tenure of Athanasiou, LAMDA expanded from a domestic shopping mall owner into one of the preeminent real estate investment and development groups in Southeastern Europe. Total assets under his management grew fivefold to roughly 5 billion euros.
The company also saw its net asset value quadruple over the same period, reaching approximately 1.5 billion euros. Athanasiou had taken the helm of the business during the peak of the global financial crisis, navigating severe market contractions in the Greek economy while expanding LAMDA's commercial portfolio.
Following his departure as chief executive at the end of 2026, Athanasiou will move into an advisory role at Consolidated Lamda Holdings starting on January 1, 2027. In that position, his responsibilities will center on managing relations with institutional organizations and state authorities.
The Ellinikon Urban Regeneration Project
Athanasiou played a central role in securing and advancing the flagship development of The Ellinikon, helping the group overcome complex institutional, regulatory, licensing, financial, and construction obstacles to begin work on the site.
The Ellinikon, situated along the coastal Athens Riviera on the grounds of the former Athens International Airport, represents the largest urban regeneration scheme in Europe. The multi-billion-euro project spans more than 6 million square metres and is designed to feature luxury residential towers, extensive public parkland, beachfront developments, cultural venues, and prime commercial districts.
Alongside the launch of The Ellinikon, Athanasiou reinforced LAMDA's dominant position across Greece in shopping centres and luxury marinas, ensuring that recurring revenue streams supported the capital-intensive regeneration works.
Tributes from Spiros Latsis and the Board
Dr. Spiros Latsis credited Athanasiou with shaping the modern identity of the company, saying he played a decisive role in building LAMDA into what it is today. Latsis noted that Athanasiou's leadership guided the group through some of the most demanding periods in its history, from the depths of the financial crisis through to the licensing and physical construction of The Ellinikon.
Latsis said the company deeply appreciated Athanasiou's contribution and the mutual trust established across two decades of collaboration. He added that their continued partnership through Consolidated Lamda Holdings would allow the group to draw on Athanasiou's business judgment, while expressing confidence that Kostaki would bring fresh perspective and executive experience to drive LAMDA's next phase of growth.
Stefanos Kotsolis, the chairman of the board of directors, offered his thanks on behalf of the board for Athanasiou's long-standing dedication and leadership. Kotsolis stated that Athanasiou's work had established strong foundations for the future of the enterprise, adding that the board warmly welcomed Kostaki and looked forward to working with her to advance the strategic priorities of the company.
Odysseas Athanasiou on Two Decades at Lamda
Reflecting on his departure, Athanasiou said that leading LAMDA was far more than the most important chapter of his career, describing it as a life mission. He explained that he believed deeply in the vision of Dr. Spiros Latsis and worked alongside staff to turn a project that many had long viewed as impossible into a reality.
Athanasiou said that The Ellinikon has now advanced from a vision on paper into active construction and delivery. He noted that reaching this operational milestone made it the right moment to close this chapter of his leadership and start a new one.
He expressed gratitude for the lasting relationship of trust and respect built with Dr. Latsis and his family, saying he looked forward to continuing their working relationship in the coming years. Athanasiou added that his belief in LAMDA's long-term commercial strength remains unwavering, which is why he has chosen to retain his personal shareholding in the company.
Evi Kostaki on Delivery and Priorities
Incoming chief executive Kostaki said it was a distinct honour to receive the trust of the board and shareholders, praising Athanasiou for establishing the solid operational platform the company enjoys today. She highlighted that LAMDA possesses a reliable flow of recurring income from its shopping centres and marinas.
Kostaki said that The Ellinikon, which is reshaping the urban landscape of Athens, is now moving out of heavy site construction into its delivery phase. She noted that the first residents are scheduled to move into the development within the next two years.
Outlining her executive goals, Kostaki identified five main priorities: maintaining company momentum, meeting delivery commitments to commercial clients and the Greek state, honoring promises made to surrounding local communities, growing recurring revenues from retail and marine assets, and preserving the strict financial discipline that underpins investor confidence. She said she looked forward to executing LAMDA's long-term vision alongside the company workforce.
Career History and Directorships
Kostaki served on the executive board and as group chief financial officer of Julius Baer from July 2022 until August 2026. She currently serves as an independent director on the board of building materials supplier Titan America, where she sits on the audit and risk committee.
Her earlier tenure at Julius Baer included appointments as managing director and deputy group chief financial officer from January 2020 to July 2022, deputy head of investment management and head of alternatives between May 2017 and January 2020, and deputy head of corporate development and strategy from August 2013 to May 2017. Prior to that, Kostaki spent four and a half years as director of corporate finance and business development at the National Bank of Greece, from January 2009 to July 2013.
Her early career included positions in asset management and corporate finance at Beltest Shipping Ltd., Eurobank EFG, Webster Financial Advisors, Morgan Stanley Asset Management, and Merrill Lynch Investment Managers across Athens, New York, and Connecticut.
Kostaki sat on the board of directors of Swiss-regulated digital asset bank Amina Bank AG in Zug between May 2020 and April 2026, serving as chair of its nomination and compensation committee from 2021 to 2022. She was also a board member at Irish asset manager Three Rock Capital Management from January 2020 to September 2022, and Mexican wealth management company NSC Asesores from January 2016 to February 2022.
Kostaki holds a master's degree in public policy with a concentration in finance from the University of Chicago, as well as a bachelor's degree in social sciences in economics from the London School of Economics. She is also a chartered financial analyst charterholder.
