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András Simor | Dávid Harangozó

EBRD appoints Hungarian vice president

D&T
March 27, 2013

The European Bank for Reconstruction and Development (EBRD) has named Hungary's former central bank (MNB) Governor András Simor as Vice President for Policy. Reporting directly to the President, he will also be a member of the Bank’s Executive Committee. He will take up his new position on July 1, 2013.

A statement by EBRD says "Mr Simor
will bring a wealth of experience from the financial sector to the EBRD." Before his term as Governor
of the National Bank of Hungary (2007-2013), András Simor served as
Chairman of the Board of the Budapest Stock Exchange and held senior positions
in the private sector.

The statement also says that the
appointment of Mr Simor was made after a competitive selection process which
attracted international interest. His nomination was approved by
the EBRD Board of Directors, following a proposal by President Sir Suma
Chakrabarti who said: “We are honoured by the extremely strong field of
candidates who have expressed their interest to serve at the EBRD. In András
Simor, we have selected someone who will bring his wide skills and experience to
the Bank.”

András Simor said he was “delighted to have been chosen for this position. The EBRD is a
crucial actor in the transition of the countries where it operates and it is a
privilege to help to strengthen and expand the Bank’s work and position. I look
forward to being able to build on the strong foundations that already exist at
the EBRD.”

The 'EBRD
Vice President, Policy', is responsible for leading the coordination of
strategies, policies and related initiatives supporting the Bank’s transition
mandate. The Vice President also has responsibility for the mobilization and
management of donor funds and for the oversight of the Bank’s engagement with
certain external stakeholders and organisations.

As listed by the Hungarian financial website portfolio.hu, other Hungarians in high position at international financial organisations include Ádám Farkas, who is the first Executive Director of the European Banking Authority and Imre Tarafás who was elected Vice Governor of the Council of Europe Development Bank in 2007.

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