Adam Farkas (1968) has been recently confirmed as the first Executive Director of the European Banking Authority, where he will take up his role on 18th April 2011. Prior to his appointment, he was the Chairman of the Hungarian Financial Supervisory Authority in 2009- 2010.Farkas started his carrier as an Assistant Professor at the Budapest University of Economic Sciences in 1991. Besides, he was a consultant to various financial institutions in Budapest and London, including the EBRD. Between 1997 and 2001, he was a Managing Director and Member of the Board at the National Bank of Hungary. His responsibility included reserve management, open market operations, treasury, and government banking services. Then he transferred to the private sector, and worked as the co-CEO of CIB Bank Ltd. a subsidiary of Gruppo Intesa in 2002-2005. Later he became the CEO of Allianz Bank Ltd. (Allianz Group) responsible for the establishment of a new commercial bank with universal banking licence for the market leading insurance company in Hungary.
He held a number of non-executive positions during his career. These included service on the Board of Directors of the Central Depository and Clearing House, the Budapest Stock Exchange, Budapest Airport, and Allianz Insurance Hungary. Between 2005 and 2009, he was a Member of the Supervisory Board and the Chairman of the Audit Committee at Magyar Telekom, a member of the Deutsche Telekom Group.
Farkas studied economics and obtained his doctorate in Finance at the Corvinus University Budapest (formerly Budapest University of Economic Sciences). He also studied at the George Washington University (US), and holds a M.Sc. from Sunderland University (UK). Besides his duties, he continued to lecture at Corvinus University until his recent appointment.