Created: 2024.10.28. 09:10
Dr Norbert Fogarasi, Managing Director of the Hungarian office of Morgan Stanley, was the guest of the „Spinoff Extra” series of events at Széchenyi István University, where he gave an inspiring talk about his life. A former chess champion in Canada, he shook hands with Bill Gates as an intern, helped to develop his firm in Tokyo and London, and then helped establish the Budapest office. In addition to business, he supports noble causes and, as a man of faith, emphasises the importance of service.
The aim of the Spinoff Club series of events at Széchenyi István University is to connect people interested in business, entrepreneurship and innovation, and to create the kind of relationships that can lead to research and development projects or even start-ups. Building on the success of the programme, the team of the Higher Education and Industrial Cooperation Centre (FIEK) has created a series of events called „Spinoff Extra – Leaders Up Close”, where each event brings together a well-known and respected leader. In the spring, the guest of the first lecture in the Győr Innovation Park was Dr István Szászi, Representative of the Bosch Group in Hungary and the Adriatic region.
Recently, the series welcomed another prominent figure from the economic sector: this time, Dr Norbert Fogarasi, Managing Director of the Hungarian office of Morgan Stanley, visited the Cube. He was welcomed by Bálint Szüle, Business Development Manager at FIEK, who highlighted that the personal example set by the Head of the financial services firm can serve as an inspiration for students, lecturers, and researchers alike in realising their innovative ideas.
Dr Norbert Fogarasi, Managing Director of the Hungarian office of Morgan Stanley, has been helping one of the world’s leading financial services firms to grow for 25 years (Photo: András Adorján)
„It was a huge change in my life when, at the age of seventeen, my family decided to move to Canada. I was already playing chess competitively in my home country and winning the Canadian age-division chess championship helped me settle in. As a student, I was mostly interested in computer science, and I continued my studies in that direction at the University of Toronto. I did an internship in the summer, and that’s how I got to work at Microsoft,” began Dr Fogarasi. He added that during this time he learned a lot about the process of creating industrial-grade software, and his personal encounter with Bill Gates was a defining experience.
After completing his bachelor’s degree, he had to decide whether to accept one of the job offers he received from companies such as Microsoft and Goldman Sachs investment bank, or to continue his studies with a master’s degree. He chose the latter and studied financial mathematics. His career then began at CIBC Bank’s New York office, and from there he moved to Morgan Stanley, one of the world’s largest financial services firms, where he has worked for 25 years.
The lobby of the Győr Innovation Park building was packed with students and lecturers of the Széchenyi István University for the Managing Director’s lecture (Photo: András Adorján)
„I started my career as a quantitative developer and after just one year I was asked to work in Japan. Within a year and a half, I had found and trained the right people to run the Tokyo office and I continued my work in London. In 2006, a manager in the New York office approached me and told me that the company was planning to open an office in the Central and Eastern European region. Although it was not yet decided which country it would be in, I was asked to join the project. Naturally I suggested Budapest,” he said.
The office started with 30 staff members and now has nearly three thousand employees. Dr Fogarasi moved back to Hungary in 2007, where he became Head of Morgan Stanley’s IT department in 2009 and Managing Director of its Hungarian office in 2011. He received his PhD in 2014 and served for four years on the Board of the American Chamber of Commerce in Hungary.
The Győr Innovation Park, or the Cube, is a worthy home for Széchenyi István University’s Spinoff Extra programme series (Photo: András Adorján)
„After twenty-five years, I am still inspired by Morgan Stanley’s corporate culture, which is in line with my own values. I also continue to learn from my colleagues and find the dynamic and exciting environment of the financial world attractive,” he said, explaining his motivations. He explained that while in the first half of his career he was solving financial, business and technological issues, nowadays, as the leader of a unit with thousands of employees, he mostly has to face organisational challenges. Meanwhile, social responsibility has become increasingly prominent in my life, as, being a person of faith, I strive to pay special attention to others,” emphasised the speaker. He also serves as Chair of the Board of Trustees for the Salva Vita Foundation, which supports people with disabilities, and as an ambassador for the Csodalámpa (“Magic Lantern”) Foundation, which fulfils the wishes of seriously sick children. His efforts in these areas were recognised with the title of „Manager of the Year in Service to Society”.
The speaker concluded by sharing his personal managerial philosophy: „Over the years, I’ve come to understand that my role is not just to manage, but to serve—supporting my colleagues daily so they can perform their tasks well and with satisfaction.” He emphasized that this mind-set fosters a more efficient and productive organization. Just as in life, the human touch and attention can truly enhance everyday experiences.
