Simák brings some apparently much-needed local experience to the position, having served as deputy CEO and ultimately chairman/CEO of MKB Bank for the past six years.

Calling Simák the “ideal” choice for the position, Intesa Sanpaolo International Subsidiary Bank Division director Ignacio Jaquotot promised that the new CEO will “certainly contribute to the implementation of the new business plan, ensuring the successful relaunch of our Hungarian operations.”