In his speech, Mr Farkas addressed the need for supervisory and regulatory convergence in the EU and how this will affect the business plans of banks in the future. He also discussed Banking Union, Capital Markets Union, and new technology trends such as Blockchain and Fintech, which will transform the nature of banking in the EU.
About the Speaker:
Mr Farkas took up his role as the first Executive Director of the European Banking Authority on 18th April 2011. Prior to this, he was the Chairman of the Hungarian Financial Supervisory Authority in 2009-2010. His other previous positions include Managing Director and Member of the Board at the National Bank of Hungary (1997-2001), the co-CEO of CIB Bank Ltd., a subsidiary of Gruppo Intesa (2002-2005), and CEO of Allianz Bank Ltd, where he was responsible for the establishment of a new commercial bank with a universal banking licence for the market leading insurance company in Hungary. Farkas holds a doctorate in Finance from the Corvinus University, Budapest and an M.Sc. from Sunderland University (UK).