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OTP hires Hungarian central banker Hamecz to run fund

István Hamecz, the chief economist at Hungary's central bank, is leaving to join OTP Bank Nyrt, the country's largest lender.

Hamecz takes over as chairman of OTP Bank Nyrt's fund manager, OTP Alapkezelő, on March 1. He will oversee 25 funds worth Ft 1.2 trillion (€4.7 billion), with products in Bulgaria, Croatia, Hungary and Slovakia, OTP said in a statement to the Budapest Stock Exchange (BÉT) today.
„With István Hamecz, an internationally renowned financial expert will arrive to the OTP Group, whose expertise and experience will help the successful fulfillment of the domestic and regional fund and asset management strategy,” the lender said in its statement.
Prime Minister Ferenc Gyurcsány last week chose András Simor, the head of Deloitte & Touche LLP's local office and a former stock exchange chairman, to succeed Zsigmond Járai as central bank president when his term expires on March 2. Local newspapers reported that Hamecz was among possible candidates for the job. (Bloomberg)