Background

György Éder has nearly three decades of experience in money and capital markets and portfolio management. He graduated from the Budapest University of Economics and Business Administration with a degree in finance in 1994 and obtained his CFA qualification in 2001. He is a founding member of the Hungarian Chapter of the CFA Institute.

Between 1994 and 2007, he worked as a portfolio manager, head of department and then deputy head of department in the department of money and foreign exchange markets of the Hungarian National Bank, and was a member of the Asset and Liability Committee.

From 2007 to December 2021, he was head of trading in the capital markets department of Raiffeisen Bank Hungary. He joined OTP Fund Management Ltd. in December 2021 as a strategic advisor and, since May 2022, has been the CEO of the company.

What is the number one challenge facing the financial sector in hungary today?

The first priority would be the development of financial culture and the education of customers, as we are lagging behind the developed markets. But this is not a country-specific problem; it is true for all Central and Eastern Europe. However, the scale of the disparity is, indeed, alarming and needs to be alleviated. Particularly because, without raising awareness, clients cannot be expected to look beyond the usual means, such as considering riskier investment products when making investment decisions. Another challenge is that of the changing regulatory environment, which has placed (and continues to place) significantly more work on us than, say, 10 to 15 years ago.

The rise of artificial intelligence is not so much a challenge as an opportunity. It represents a massive opportunity for any business segment where improving efficiency is a priority, and the financial sector is one of them. Whether automating processes or improving the customer experience, AI has huge potential. We are more concerned with the former and are increasingly using it to gain a competitive advantage. The challenge is to ensure that we do not fall behind.

What’s the bigger problem, finding the right people with the right skills from the outset or retaining them once they’ve been hired?

In my experience, good employees are much harder to find than to keep. Part of the reason for this is that the financial sector is not as attractive now as it was when I started, for example. Although feedback suggests that OTP Fund Management is an attractive workplace, we see that the younger generation is looking for industries that offer complete freedom. Knowing that this also plays an essential role in retaining our workforce, we make a conscious effort to ensure a good work-life balance.

How do you find the balance between being present at work and teleworking?

Our colleagues can work in hybrid working arrangements. We operate on a task-oriented basis, so 40% of our working hours can be completed from a home office; it became apparent during the worst of the pandemic that we can work effectively from home. At the same time, all of us, including my colleagues, demand face-to-face meetings, working together “in person.” This is also essential for integrating new staff, as our team has grown significantly in recent years.

Do career paths (and perhaps even job roles) need to be redesigned to better attract Gen Z candidates?

We strive to offer an attractive career path to those who come into contact with OTP Fund Management at a young age, even as a trainee. Most of our trainees can try their hand in several areas, and then, based on mutual sympathy, relevant knowledge and a cross-section of current opportunities, they can receive a job offer from us. Many have started their careers this way, and I’m proud to say that many of them have been part of our team of experts for many years. Our flat organization and transparent corporate governance make us a welcoming (and efficient) workplace.

Would you recommend finance as a good career choice for Generation Z or Alpha?

The world of finance has grown into an independent and significant category within economics. It is constantly changing, never becoming dull or routine, so there are always plenty of learning opportunities. Its biggest advantage is that it is one of the most convertible professions: you can use the knowledge you acquire anywhere in the world, and on that basis, yes, I would recommend it. At the same time, it is important to note that it is increasingly useful to complement this financial knowledge with IT skills, such as programming or database management.

This article was first published in Top 50 Executives The Most Influential Financial Executives in Hungary 2024 on November 29, 2024.