András Simor

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András Simor
AndrasSimor.jpg
Occupation Governor
Employer Hungarian National Bank
Location Budapest, Hungary

Andras Simor has served as Governor of the Hungarian National Bank (HNB) since March 2007 and is also Chairman of the HNB's Monetary Council, which sets monetary policy. Most of his term has been dominated by the 2008 decline in Hungary's economy and the interest-rate cuts the HNB has made in response. Simor was reported one year ago as Hungary's highest-paid civil servant, earning more than Hungary's appointed president, earning almost twice as much as the country's (appointed) president.[1]

Background

Prior to his appointment as HNB governor, Simor served as chairman and managing partner of business consultancy Deloitte & Touche Rt. for seven years along with a concurrent four-year term until 2002 as chairman of the Budapest Stock Exchange.[2] Simor began his career at the Hungarian National Bank in 1976 and spent six years at the bank's London affiliate before returning to Hungary to lead Austrian bank Creditanstalt's newly-formed Hungarian brokerage in 1989, later helping to bring Hungarian blue chips MOL Rt. and MATAV to market in mass privatizations.

Education

Simor is a graduate of the Budapest University of Economics majoring in International Finance.[3]

Latest News

In an interview with the Wall Street Journal in October 2008, Simor stressed his intention to strengthen "fiscal discipline" in Hungary while improving liquidity in the forex and bond markets.[4] He also pointed out that international financial markets highlighted Hungary in 2008 as a risky economy partly because of its high levels of foreign debt, adding that most of it is held by the private sector.

References

  1. National Bank governor is Hungary's highest-paid public servant. Hungary Around the Clock.
  2. Curriculum Vitaes of the members of the board. Hungarian National Bank.
  3. András Simor. Portfolio magazine.
  4. Q&A: Hungarian Central Bank Governor András Simor. Wall Street Journal.