Hungary: a regional economic and financial centre

Hungary: a regional economic and financial centre

OMFIF welcome remarks

Welcome address

Session I: The macroeconomic outlook in
central and eastern Europe

Session II: Investment opportunities in
Hungary and central eastern Europe: asset
managers

Session III: Developments in domestic
financing and capital markets

Session IV: Financing the green transition

Session V: Fintech and a digital future in
central and eastern Europe

Hungary: a regional economic and financial centre

5

Thought-provoking sessions

20+

Insightful speakers

100+

Attendees

1

Impactful event

The next few years present a significant opportunity for Hungary to establish its credentials as an economic and financial centre, both regionally and more widely. This OMFIF conference in Budapest brought together a group of leading asset owners, investment managers, policy-makers, practitioners, bankers and other financial services providers with speakers from the official sector. They provided the international financial community with unique insights into regional macroeconomic developments and the potential to invest in and via Hungary.

The conference forms part of a wider project, ‘Unlocking Hungary’s post-pandemic growth potential’. It also comprised interviews with Magyar Nemzeti Bank, Hungary’s finance ministry and investors, as well as two virtual roundtables on 4 October and 7 November. The project culminates in a research report released in December 2023.

Key themes

Macroeconomic outlook and implications for monetary and fiscal policies

Opportunities for asset managers and other investors

Developments in domestic financing and capital markets

The role of CEE central banks in driving the green transition

Fintech and a digital future in the CEE region

Speakers

Martin Blum

Head, Desk Strategy and Group Capital Markets Development

Raiffeisen Bank International

Mate Brezovszki

Chief Executive Officer

Perfinal Technologies

György Éder

Chief Executive Officer

OTP Alapkezelő

László Fazekas

Deputy Chief Executive Officer and Chief Financial Officer

MVM

Bálint Fischer

Chief Business Development Officer

Dorsum

Christopher Garnett

Senior Adviser

OMFIF

Mihály Geiszbühl

Head, Capital Markets

Erste Bank Hungary

Geoff Gottlieb

Senior Resident Representative, Regional Office for Central, Eastern and Southeastern Europe

International Monetary Fund

Caroline Grady

Head, Emerging Markets Research

Macro Hive

Anna Grochowska

Deputy Head of Unit at the European Commission, Directorate General for Financial Stability, Financial Services and Capital Markets Union

European Commission

Radovan Jelasity

Chairman and Chief Executive Officer

Erste Bank Hungary

Ferenc Kementzey

Deputy Chief Executive Officer and Head, Corporates, Markets and Investment Banking

Raiffeisen Bank Hungary

Pawel Kowalewski

Senior Advisor

Narodowy Bank Polski

Zoltán Kuráli

Chief Executive Officer

Government Debt Management Agency, ÁKK

David Lodge

Head, Euro Area External Sector and Euro Adoption

European Central Bank

David Marsh

Chairman

OMFIF

Reiner Martin

Executive Director

National Bank of Slovakia

Tomomitsu Maruta

Sustainability Finance Associate Officer, Capital Markets Department, Finance Directorate

European Investment Bank

Kaan Nazli

Senior Portfolio Manager and Economist, Emerging Markets Debt

Neuberger Berman

Chris Ostrowski

Chief Executive Officer

SODA - Public Digital Money

David Papp

Head, Sustainable Finance Policy

Maygar Nemzeti Bank

Taylor Pearce

Senior Economist

OMFIF

Anastasia Petraki

Head, Sustainability for Germany, Austria, German-speaking Switzerland and Eastern Europe

BlackRock

Maral Shamloo

Managing Director in Fixed Income and Liquidity Solutions

Goldman Sachs Asset Management

Tomas Slacik

Senior Economist, Central, Eastern and Southeastern Europe, Economics Analysis and Research

Oesterreichische Nationalbank

Anikó Szombati

Executive Director, Chief Digital Officer

Magyar Nemzeti Bank

Tobias Tenner

Head, Digitalisation and Associate Director

Association of German Banks

Olaf Toelke

Managing Director and Head, Corporate Ratings

Scope Ratings

Peter Töreki

Head, Group Funding, Treasury

MOL Group

Mihály Varga

Minister of Finance

Government of Hungary

Balázs Vinnai

Chairman

IVSZ – Hungarian Association of Digital Companies

Barnabás Virág

Deputy Governor

Magyar Nemzeti Bank

Matthias Zeinitzer

Director, iShares & Wealth CEE

BlackRock

Agenda

08:15-09:00 Registration and refreshments

09:00 - 09:05 OMFIF welcome address

09:05 - 09:45 Keynote address

09:45 - 10:45 Session I: The macroeconomic outlook in central and eastern Europe

The macroeconomic outlook and implications for monetary and fiscal policies
(Hungary, CEE and euro area overviews
Policy responses to rising inflation and interest rates and the consequences
for financial markets and financial stability
Geopolitical developments including the impact of the Russia’s invasion of
Ukraine on energy and security

Keynote speaker:
Marta Kightley, First Deputy Governor, Narodowy Bank Polski

Speakers:
Geoff Gottlieb, Senior Resident Representative, Regional Office for Central, Eastern and Southeastern Europe, International Monetary Fund
Radován Jelasity, Chairman, Chief Executive Officer, Erste Bank Hungary
Pawel Kowalewski, Senior Advisor, Narodowy Bank Polski
David Lodge, Head of the Euro Area External Sector & Euro Adoption Division, Directorate General Economics, European Central Bank
Reiner Martin, Executive Director, National Bank of Slovakia
Tomas Slacik, Senior Economist, Central, Eastern and Southeastern Europe Section, Economics Analysis and Research Department, Oesterreichische Nationalbank
Moderator: Taylor Pearce, Senior Economist, OMFIF

10:45 - 11:10 Refreshment break

11:10 - 12:10 Session II: Investment opportunities in Hungary and central and eastern Europe: asset managers

Assessing investments in emerging market debt and credit asset categories
Recalibrating strategic asset allocations in a volatile environment
The evolution of portfolio diversification and risk management strategies
Equities and alternative assets classes: real estate, infrastructure and private
markets

Speakers:
György Éder, Chief Executive Officer, OTP Fund Management
Caroline Grady, Head, Emerging Markets Research, Macro Hive
Kaan Nazli, Senior Portfolio Manager, Economist, Emerging Markets Debt, Neuberger Berman
Maral Shamloo, Manging Director, Fixed Income and Liquidity Solutions, Goldman Sachs Asset Management
Matthias Zeinitzer, Director, iShares & Wealth CEE, BlackRock
Moderator: Christopher Garnett, Senior Adviser, OMFIF

12:10 - 13:10 Lunch

13:10 - 14:10 Session III: Developments in financing and capital markets

Developments in Hungarian and European capital markets
Addressing banking sector fragmentation at the national and European level
Moving beyond bank financing for domestic corporates and SMEs
Enhancing domestic investor capacity and retail investment

Speakers:
Martin Blum, Head of Desk Strategy and Capital Markets Development, Raiffeisen Bank International
Mihály Geiszbühl, Head of Treasury, Erste Bank Hungary
Anna Grochowska, Deputy Head, National Financial Systems, Directorate-General for Financial Stability, Financial Services and Capital Markets Union, European Commission
Zoltán Kurali, Chief Exectuive Officer, Government Debt Management Agency, AKK
Olaf Toelke, Managing Director, Head of Corporate Ratings, Scope Ratings
Peter Töreki, Head of Group Funding, Treasury, MOL Group
Moderator: Christopher Garnett, Senior Adviser, OMFIF

14:10 - 15:10 Session IV: Financing the green transition

ESG standards and international cooperation
Bolstering transition finance and crowding in private investment
Developing green, social and sustainability bond issuance
The role of the public sector in driving the green transition

Speakers:
László Fazekas, Deputy Chief Executive Officer, Chief Financial Officer, MVM
Ferenc Kementzey, Deputy Chief Exectutive Officer; Head of Corporates, Markets and Investment Banking, Raiffeisen Bank Hungary
Tomomitsu Maruta, Sustainability Finance Associate Officer, European Investment Bank
David Papp, Head of Sustainable Finance Policy, Magyar Nemzeti Bank
Anastasia Petraki, Head of Sustainability for Germany, Austria, Germanspeaking
Switzerland and Eastern Europe, BlackRock
Moderator: Taylor Pearce, Senior Economist, OMFIF

15:10 - 15:35 Refreshment break

15:35 - 16:35 Session V: Fintech and a digital future in central and eastern Europe

Digital assets and the future of capital markets in the CEE region
The emerging role of fintech in innovating financial services
The implications of CBDCs, including the digital euro, for monetary policy, financial intermediation, and financial stability

Speakers:
Bálint Fischer, Chief Business Development Officer, Dorsum
Anikó Szombati, Executive Director, Chief Digital Officer, Magyar Nemzeti Bank
Tobias Tenner, Head of Digitalisation, Associate Director, Association of German Banks
Balázs Vinnai, Chairman, IVSZ (Hungarian Association of ICT Companies)
Moderator: Chris Ostrowski, Chief Exectuive Officer, Sovereign Official Digitial
Association