Minister of Finance Appoints a New Chairman of the Board of Directors of the Financial Market Guarantee System

Prague, 1 September 2021 – Minister of Finance Alena Schillerová has appointed a new chairman of the Board of Directors of the Financial Market Guarantee System. This is to be Tomáš Müller, who also heads the Financial Stability and Oversight unit at the Ministry of Finance of the Czech Republic.

The new chair, Tomáš Müller, has been appointed by Minister of Finance Alena Schillerová as of 1 September 2021. His term of office will last until 2026. He replaces the current chair, Dušan Hradil, who headed the Board of Directors since the establishment of the Guarantee System in 2016. His tenure at the Guarantee System ended as he became a member of the Supervisory Board of the Czech Export Bank in August, a position incompatible with membership in the Board of Directors of the Guarantee System.

The Board of Directors of the Guarantee System has five members and includes two employees of the Czech National Bank, two employees of the Ministry of Finance of the Czech Republic, and one member appointed on a proposal from the Czech Banking Association. Members are appointed by the Minister of Finance for a term of five years and may be reappointed. The most recent list of the Board of Directors members is available here.

“The Board of Directors is the supreme body of the Guarantee System. Besides supervising the operations of the Guarantee System, one of the tasks of the Board of Directors is to appoint a three-member Management Board, which is composed of employees of the Guarantee System,” explains Ms. Renáta Kadlecová, managing director of the Guarantee System.

The total funds under the management of the Financial Market Guarantee System amount to CZK 58.1 billion. Of this amount, the Deposit Insurance Fund currently has CZK 37.1 billion under management and the Crisis Resolution Fund CZK 21.0 billion.

Tomáš Müller graduated from the Prague University of Economics and Business and the Faculty of Law at Charles University. He has worked at the Ministry of Finance since 2015 and has headed the Financial Stability and Oversight unit since 2017.

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