Tomáš Holub and Aleš Michl appointed new members of CNB Bank Board as from 1 December 2018
The line-up of the CNB Bank Board is to change on 1 December 2018. Czech President Miloš Zeman today appointed two new Bank Board members – Tomáš Holub and Aleš Michl – for a six-year term. At the same time, the President appointed two current CNB board members – Marek Mora and Tomáš Nidetzký – as new Vice-Governors.
Tomáš Holub and Aleš Michl will be installed as new board members after the second six-year terms of Mojmír Hampl and Vladimír Tomšík end on 30 November 2018.
Tomáš Holub (44) has been working at the Czech National Bank for 18 years, most recently as Executive Director of the Monetary Department. Aleš Michl (41), an investment strategist of many years’ standing, was a co-founder of Robot Asset Management SICAV and an external economic adviser to the Prime Minister before his appointment to the Bank Board.
“I see the appointment of Tomáš Holub as a natural and logical consequence of his many years of highly professional and managerial work for the central bank. I expect Aleš Michl to bring a new perspective to the Bank Board and, thanks to his ability to communicate with the general public, to contribute to a broader understanding of what the Czech National Bank does and why,” said Czech National Bank Governor Jiří Rusnok. “As Vice-Governors, Marek Mora and Tomáš Nidetzký will undoubtedly guarantee strong management of the central bank, since they have both proved their expertise and management skills in their previous places of work and in the performance of their current mandates.“
The first regular meeting of the Bank Board in its new line-up will be held on 5 December. The first monetary policy meeting to be attended by the new members will be on 20 December.
Board members are appointed by the President of the Czech Republic to the seven-member Bank Board for a six-year term. No board member may hold the position more than twice. The decision on the composition of the Bank Board is fully within the competence of the President.
Markéta Fišerová
Director of the Communications Division and CNB Spokesperson
CVs
Tomáš Holub was born in Liberec on 19 August 1974. He graduated from the Institute of Economic Studies at the Faculty of Social Sciences, Charles University, where he was awarded a bachelor’s degree in economics (1995), a master’s degree in finance and banking (1997) and a Ph.D. in theoretical economics (2001). In 1997, he received the Bolzano Award, granted by the Rector of Charles University for exceptional research work, for his diploma thesis on Monetary Policy in the Czech Republic (1993–1996). He received the Olga Radzyner Award, granted by the Oesterreichische Nationalbank, and the Award of the Czech Minister of Education, Youth and Sports for outstanding students and graduates in the study programme for his dissertation Three Essays on Central Banking and Credibility. He also undertook study internships at Georgetown University in Washington, D.C. and the London School of Economics and Political Science in London. He worked as a macroeconomist at Komerční banka in 1996–2000. He then joined the CNB, where he held the posts of adviser to the Vice-Governor and adviser to the Governor. He was Executive Director of the Monetary and Statistics Department from 2004 to 30 March 2015 and has been Executive Director of the Monetary Department since 1 April 2015. He also lectures in monetary economics and international macroeconomics at the Institute of Economic Studies at the Faculty of Social Sciences, Charles University, where he qualified as an associate professor in economic theory in 2011. In the past, he also taught at the University of Economics in Prague. He regularly publishes articles on inflation targeting, exchange rate issues, central bank independence and transparency, central bank finances and price convergence in domestic and foreign economic journals. He is a member of the Board of Directors of the Czech Economics Society and served as its president in 2006–2007.
Aleš Michl was born in Prague on 18 October 1977 and graduated from the Faculty of Finance and Accounting at the University of Economics in Prague. He completed his studies at the University of Economics in 2002. After graduated, he attended the Summer School at the London School of Economics and Political Science in 2005 and took an investment portfolio management course at the Wharton School in Philadelphia in 2009. He started his professional career as an economic journalist during his studies and later as an economic adviser to Deputy Prime Minister for the Economy Martin Jahn. He worked as an economic and investment strategist at Raiffeisenbank in 2006–2015 and as an external economic adviser to Czech Minister of Finance and later Czech Prime Minister Andrej Babiš, specialising in macroeconomic analysis and government debt stabilisation. He founded Michl Fund Management s.r.o. in 2016, which subsequently co-founded Robot Asset Management SICAV a.s., which carries on the activities of an investment fund for qualified investors with the Quant sub-fund. He will terminate these activities on the date of commencement of his position in the CNB Board. Mr Michl is the author of numerous columns and articles in newspapers, journals and magazines. He also wrote the book MICHLiq – průvodce eckonomií a investicemi (MICHLiq – a guide to economics and investment). He is not and has never been a member of a political party.
Marek Mora was born in Strakonice on 17 May 1971. After graduating in international trade from the University of Economics, he worked briefly in the Czech private sector. He then completed his postgraduate studies in economics in Saarbrücken and Hamburg and taught at the University of Leipzig. In 1999 he was awarded the title of “Young Economist of the Year 1998”. In 2003 he joined the Directorate-General for Economic and Financial Affairs of the European Commission and three years later started working for the Czech public administration. He was Deputy Minister of Education for almost a year and then spent two and a half years at the Office of the Czech Government – first as an assistant to the Deputy Prime Minister, later as Minister for European Affairs and then briefly as an adviser to Prime Minister Jan Fischer. From 2010 he worked at the General Secretariat of the Council of the European Union – initially as the head of the Cabinet of the Secretary-General of the Council and from February 2016 as the head of the Budget, Tax and Regional Policy Directorate. Mr Mora became a member of the Bank Board of the Czech National Bank on 13 February 2017.
Tomáš Nidetzký was born on 29 March 1970. He graduated from the Faculty of Informatics and Statistics at the University of Economics in Prague and completed his postgraduate studies at Oklahoma City University in the USA. He started his career at the Czech Securities Centre. From 1995 he worked as an assistant to the Chief Financial Officer of Komerční banka. In 1997 he joined Česká spořitelna, where he worked as director of strategic planning and financial group management until 1999. In 1999 he was appointed Chairman of the Board and Chief Executive Officer of Penzijní fond České spořitelny and in 2000 he became Chairman of the Board and Chief Executive Officer of Pojišťovna České spořitelny. From 2003 he was a member of the Executive Board and Executive Director in charge of retail financial services at ING in the Czech Republic and the Slovak Republic. In 2004–2010 he worked as Deputy Chairman of the Board and First Deputy Chief Executive Officer of Stavební spořitelna České spořitelny. Between 2011 and 2013 he was director of internal distribution at ČSOB Pojišťovna. From 2013 he worked as Chief Sales Officer at NN Czech Republic. In 1999–2004 he was a member of the presidium of the Association of Pension Funds of the Czech Republic and the Czech Insurance Association. Mr Nidetzký became a member of the Bank Board of the Czech National Bank on 1 July 2016.