Bloomberg News

BayernLB’s Hungarian MKB Unit Names Simak to Replace CEO Erdei

February 15, 2012

Feb. 15 (Bloomberg) -- Pal Simak, deputy chief executive officer of Bayerische Landesbank’s MKB Bank Zrt. unit in Hungary, will replace Tamas Erdei, who quit as CEO, the bank said in an e-mailed statement today.

Erdei, who has worked at MKB since 1983 and has led the bank since 1994, served as president of Hungary’s Bank Association for almost 15 years, MKB said. Simak worked as a financial consultant at McKinsey & Company before joining MKB.

--Editors: Tim Farrand, Peter Woodifield

To contact the reporter on this story: Andras Gergely in Budapest at

To contact the editor responsible for this story: Gavin Serkin at

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