Appointment of two division directors in the Financial Markets Department

The CNB Bank Board has appointed Mr Petr Frydrych as Director of the Interventions Division with effect from 1 February 2005. The Board has also appointed Mr Marek Šesták as Director of the Reserves Management Division with effect from the same date.

Mr Frydrych will replace Mr Martin Peřina, who is leaving to work at the European Central Bank in Frankfurt. Mr Šesták will take over the post currently held by Mr Frydrych.

Petr Frydrych graduated from the Faculty of Mathematics and Physics at Charles University. He has worked in the CNB's Reserves Management Division since 1995, holding the posts of portfolio manager and Deputy Division Director. He was appointed Director of the Reserves Management Division in 2001.

Marek Šesták obtained a master's degree from the Faculty of Mathematics and Physics at Charles University in 1998. Since 1998 he has worked in the CNB's Reserves Management Division, where he co-managed euro-and dollar-denominated portfolios. He became a member of the CFA Institute and a Chartered Financial Analyst (CFA) in 2003.