President János Áder on Monday appointed Ferenc Gerhardt to replace outgoing National Bank of Hungarydeputy-governor Júlia Király. Gerhardt was appointed a member of the central bank’s rate-setting Monetary Council for six years in March of 2011. Ms Király announced her resignation in early April, calling the step a “signal of the severity of the situation” at the central bank after changes made by its recently appointed governor György Matolcsy. Gerhardt has held executive positions at CIB Bank, ING Bank, the Hungarian Development Bank (MFB) and Konzumbank. He has advised the management of MKB Bank and Allianz Hungária. He worked for the MNB in 2005-2007.
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