Press release following the Extraordinary General Meeting as of 1 September, 2017

Management Changes at KELER

Budapest, 1st September 2017 – New executives were appointed at KELER Ltd.’s extraordinary general meeting. Starting from September, Attila Mónus will serve as Chief Executive Officer, and new directors will be appointed to lead, among others, the Banking Operations Directorate, the Strategic and Customer Relationship Directorate and the IT Directorate. The changes do not affect KELER’s strategy: the company continues to pursue the objective of regional and international expansion, relying on a strong domestic base.

The majority owner Central Bank of Hungary made a decision to reorganise the management of KELER at the company’s extraordinary general meeting held on 1 September 2017. György Dudás, who has been leading KELER for 14 years, is leaving the company with mutual consent, and Attila Mónus will assume his position. 
The newly appointed CEO served as the Head of the International Settlement at KELER between 2001 and 2006 and prior to his appointment as CEO, he worked as the Head of Custody at the Deutsche Bank AG Hungary Branch. 
Attila Mónus said that “KELER, as the only central securities depository on the Hungarian capital market, will continue to pursue its strategic modernisation programme aimed at enhancing services. The primary purpose of this endeavour is to transform KELER from a domestic service provider into an innovative, European and regional market leader”. 
The decisions made by the general meeting, held at the beginning of September, affect several divisions. Margit Brauner, Director for Banking Operations, and András Katkó, IT Director, will leave the management. They have supported the work of outgoing CEO, György Dudás, for several years. Starting from September, Sándor Szalai, former Director of Strategy and Client Relations will be heading the Banking Operations Directorate and he will simultaneously serve as General Deputy Chief Executive Officer of KELER.
From 1 September 2017, the following senior executives will assist Attila Mónus:
  • IT: János Tóth, Director, and Dr. Károly Horváth, Deputy Director
  • Strategy and Client Relations: Gergely Ekler, Director, and István Ágoston, Deputy Director
  • Banking Security Management: Tamás Beluzsár, head of department
The transformation resulting from the decisions of the general meeting will not affect daily operations. The company and its professional staff will continue to work on achieving the strategic goals that were determined previously. 

The Magyar Nemzeti Bank and the Budapest Stock Exchange are the owners of KELER Central Depository Ltd. (KELER) that was founded in 1993. With KELER CCP Ltd., its subsidiary, (jointly: KELER Group), they form the infrastructure to ensure the smooth operation of the Hungarian capital and energy markets. KELER, as the only central securities depository of the Hungarian capital market, provides the infrastructure for Hungarian securities issuance, the settlement of Hungarian securities transactions. KELER CCP as clearing house ensures secure and transparent trade clearing: it substitutes the clients involved in the contracts concluded in one or several financial markets: it acts as buyer to all sellers and as seller to all buyers by acting as the only counterparty to all of them and guaranteeing trade settlement. KELER CCP as clearing house complies with the strictest European requirements, and provides clearing services to the Budapest Stock Exchange, MTS Hungary government trading platform, CEEGEX Central Eastern European Gas Exchange and the TP Hungarian balancing gas market, and provides general clearing member services on HUPX, the Hungarian organized power trading market, the German, French, Czech and Serbian energy markets, and the Austrian gas market.
An innovative service provider with reliable professional and IT background, corresponding international practice, Hungarian and international regulations, the KELER Group builds on its stable shareholder background and capital position when serving its clients, takes into account the present and future needs of market participants and forms an interest group with market players. Its objective is to become a key player in the regional and the European markets by relying on market and service innovation.