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PSZÁF approves Allianz appointments to Dresdner Bank board

The State Financial Supervisory Authority (PSZÁF) announced on Tuesday it approved Allianz Hungária's new appointments to the board of Dresdner Bank, confirming reports that the insurer planned to enter the lending market by purchasing Dresdner Bank's license.

Allianz Hungária announced at the start of the year that it would expand its activities to include lending. According to press reports, Allianz Hungária planned to purchase the license of Dresdner Bank. Károly Salamon, currently deputy CEO and soon-to-be CEO of Allianz Hungária, was appointed chairman of the board. Members appointed were Gábor Hegyi, András Kozek, Tamás Kálózdi and Ádám Farkas. Farkas, the former head of CIB Bank, is expected take over as CEO of Dresdner Bank, which will probably be renamed. Zsolt Zsedényi, deputy-CEO of Allianz Hungária, was appointed to chair the supervisory board.