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Baranyay named to EIB management committee

In Hungary

The European Investment Bank (EIB) has appointed László Baranyay to position of Management Committee Vice-President. Baranyay takes up Anton Rop’s spot on the committee after Rop resigned effective August 31.

The formal announcement noted Baranyay had been put forth by Hungary with the backing of representatives from Bulgaria, the Czech Republic, Croatia, Cyprus, Malta, Poland, Slovenia and Slovakia. A “yea” vote for Baranyay was completed on August 29, and his active status as vice-president is retroactive to September 1.

Baranyay brings over a decade worth of experience run up at the state-owned development bank MFB to the EIB post. First starting with MFB in 1993, Baranyay worked his way up to CEO/president in September 2001 but was relieved of his duties when the MSzP-led coalition government took office in 2002. The dismissal was later declared illegal by the national supreme court.

When Fidesz and its allies returned to power in 2010, then National Development Minister Tamás Fellegi reappointed Baranyay to his former president/CEO position at MFB.

Named as co-CEOs in Baranyay’s stead were Csaba Nagy and Dániel Lontrai. Nagy was most recently a member of the MFB board of directors, and from 1997 to 2011 was at OTP, ultimately serving as deputy CEO for the mortgage-loan division. From 2011 to 2013, Nagy was also CFO of state-owned energy group MVM Zrt.

After decades in the financial sector, including stints with commercial banks and Magyar Posta, Lontrai was most recently a member of the Cooperative Credit Institution Integration Association (SzHISz).

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