Bloomberg: Two top officials may leave ÁKK

Deals

Two top officials working at Hungary’s Government Debt Management Agency (ÁKK), Deputy Chief Executive Officers László Buzás and László András Borbély, are believed to leave the office after running foreign and domestic operations for approximately two decades, Bloomberg reported yesterday citing a source asking to stay unnamed.

Bloomberg reports that both officials have been given five-month notice periods. Buzás, Borbély and ÁKK spokesperson Éva Szálkai did not comment on the rumor when approached by Bloomberg.

Bloomberg noted that the reported management change comes seven months after György Barcza was named head of the agency.

Since his appointment, ÁKK has accelerated efforts to cut Hungary’s share of foreign-currency and external debt and increase domestic holdings to reduce the country’s vulnerability to volatility on global financial markets, Bloomberg noted.

Buzás joined the agency in 1997 and has been in charge of international operations, including Eurobond sales, while Borbély has been general deputy chief executive since 1995.

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