The European Bank for Reconstruction and Development (EBRD) has appointed Andras Simor as vice-president for finance and CFO.

Simor will be responsible for treasury, loan syndication and capital market development. He will also oversee the EBRD’s financial strategy and policy, budget and business planning, and capital management. He replaces Manfred Schepes, who has held the role for eight years.

Simor joined the EBRD in July 2013 having served as governor of the National Bank of Hungary. He has also held senior positions in the private sector: in capital markets, auditing and financial consultancy.

Commenting on the appointment, EBRD president Suma Chakrabati, says: “I am confident that the finances of the EBRD remain in steady hands. Simor brings a huge amount of experience to his new job.”