György Barcza appointed ÁKK chief

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György Barcza was appointed CEO of the Government Debt Management Agency (ÁKK) today by Economy Minister Mihály Varga, the National Economy Ministry said today. The appointment is to take effect on February 1.

Barcza (pictured) is replacing István Töröcskei, who resigned form the position in December, a few days after the withdrawal of the license of Széchenyi Bank, where Töröcskei is a majority owner, due to alleged irregularities cited by the central bank and the financial market regulator.

Barcza used to work for ING and K&H as macroeconomic analyst before becoming the chief analyst of Századvég and the editor-in-chief of Napi Gazdaság.

Századvég group is best known for their research arm, which is closely affiliated with ruling party Fidesz. The group has seen its revenues grow tenfold in the past four years and 2015 might be the best year ever for the group, according to reports. Napi Gazdaság has been known to publish Fidesz-friendly news.

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