The Executive Director is in charge of the management of the European Banking Authority and prepares the work of the Management Board. He is also responsible for implementing the annual work programme of the Authority under the guidance of the Board of Supervisors and under the control of the Management Board. The Executive Director’s term of office is five years and it may be extended once.
Adam Farkas is the first Executive Director of the European Banking Authority. He was selected by the EBA Board of Supervisors on 2 March, 2011 from a shortlist of candidates drawn up by the European Commission and eventually confirmed by the European Parliament on 24 March, 2011, following a public hearing held at the Economic and Monetary Affairs Committee (ECON) on 17 March, 2011.
Adam Farkas will take up his duties in mid-April.