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
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