Nick Kós, who has become a familiar face in Budapest business circles during his six years as PwC Hungary’s country managing partner, is to become CEO for the whole Central and East European region with effect from July 1. He will remain based in Budapest, and will be succeeded by Tamás Lőcsei, PwC Hungary’s tax and legal services leader, as the local head.
In his new role as CEO for the region, Kós will lead more than 10,000 people . “This is an exciting professional challenge that I am very proud to undertake as the first Hungarian in that position,” Kós said when the news was made public. “Our success in Hungary has also contributed to the regional partners’ decision to entrust me with this important role.”
For Lőcsei, his appointment as CEO of PwC Hungary, which will also be affective from July 1, is the continuation of an impressive career. The 43-year-old joined the firm as an intern in 1997, and has worked in several fields within tax and legal services, according to a statement put out by the advisory company.
He was appointed lead partner of indirect tax in 2005, in doing so becoming the youngest person yet elected partner at PwC Hungary. He has also gained wide-ranging experience working in the Netherlands, Switzerland and Germany.
Since Lőcsei’s appointment as service line leader in 2012, the tax and legal services business line has developed dynamically. Lőcsei is an internationally recognized expert in taxation and state aid, and has frequently been involved in drafting legislative proposals, PwC says. He has also helped numerous foreign companies to invest in Hungary and the region.
From 2014 to 2017, Lőcsei managed tax and legal operations across the CEE central territories (Poland, Hungary, Czech Republic, Slovakia and the Baltic states). He was appointed as CEE innovation leader in 2017.
“Economic and especially technological changes pose major challenges to global companies like PwC,” Lőcsei said. “The main priority of my term as CEO of the Hungarian company will be to prepare our firm and our people for permanent change, to make sure that we are able to learn something new every day. We do not simply want to keep pace with changes or endure them; we want to show the way. I have resolved to lead a future-oriented company driven by innovation,” he added.
Lőcsei will retain his role as head of TLS, while Árpád Balázs will continue to serve as assurance leader. In one other leadership change dating from July 1, Ádám Osztovits will become strategy and transformation leader for the CEE region, which comprises 29 countries. In addition to his new role in the leadership team, he will continue in his role as advisory leader in Hungary.