New Chairman appointed to K&H Bank’s Supervisory Board

Dr. Elemér Terták succeeds Béla Singlovics

The mandate of K&H Bank’s Chairman Béla Singlovics ends on 31 December 2017.  KBC Bank appointed Dr. Elemér Terták as member and new Chairman of the Bank’s Supervisory Board. The appointment has been approved by the National Bank of Hungary. Dr. Elemér Terták assumes his position as from January 1, 2018.

CEO International Markets, Luc Popelier commented: “I want to thank Mr Singlovics for many years of successful work at the helm of K&H Bank’s Board of Directors and later its Supervisory Board. Mr Singlovics has always exhibited the highest standards of work and has always been committed to K&H’s stable and prudent operations, as well as to our dynamic growth. His experience, vision and advice have greatly contributed to K&H Bank’s successes. In Mr Terták we are happy to have another Chairman of outstanding reputation and distinguishable career within the financial sector in Hungary and in Europe. We warmly welcome Mr Terták in his new position and I am convinced that his efforts and experience will form an important contribution to K&H’s success.”

Béla Singlovics, a key figure in the history of Hungary’s banking system, has promoted the development and privatisation of the entire sector. In recognition of his work, the Hungarian Banking Association gave him a Golden Beehive lifetime achievement award in 2015. He has served as CEO of Postabank, Takarékpénztár and Budapest Bank, deputy CEO of Exim Bank, and managing director of Magyar Külkereskedelmi Bank. K&H Bank had invited him to work as an advisor to the CEO in 2004, and he was appointed as Chairman of the Board in 2005 and Chairman of the Supervisory Board in 2014. 

Dr Terták earned an outstanding reputation in the profession, and has wide experience in both the Hungarian and international financial sector. He has held leadership positions at various financial institutions in two decades, at present he is board member of the Hungarian Economists Association. He worked as senior adviser and director at the European Commission in Brussels between 2005 and 2016. Dr Terták also served as State Secretary and Deputy State Secretary of public administration at the Ministry of Finance. Since June 2016, he has also been an external member of the Board of the Global Legal Entity Identifier Foundation.

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