{"@context":"http://iiif.io/api/presentation/3/context.json","id":"https://lcdl.aviaryplatform.com/iiif/c53dz03z9r/manifest","type":"Manifest","label":{"en":["Interview with Vazil Hudak, December 19, 2022"]},"logo":"https://d9jk7wjtjpu5g.cloudfront.net/organizations/logo_images/000/000/212/original/LOHI_aviarybanner2.jpg?1741032082","metadata":[{"label":{"en":["Date"]},"value":{"en":["2022-12-19 (created)"]}},{"label":{"en":["Interviewer"]},"value":{"en":["Whalen, Emily"]}},{"label":{"en":["Interviewee"]},"value":{"en":["Hudak, Vazil"]}},{"label":{"en":["Description"]},"value":{"en":["\u003cp\u003eVazil Hudak discusses his career after leaving the EastWest Institute, including his time in the private sector with J.P. Morgan and Citibank, and, eventually, his tenure as Minister of Finance of Slovakia. He explains how EWI's ethos informed each chapter of his professional life and talks about the kinds of things that EWI might work on if it were active as an independent institution today. \u003c/p\u003e (abstract)"]}},{"label":{"en":["Contributing Institution"]},"value":{"en":["College of Charleston Libraries"]}},{"label":{"en":["Media Type"]},"value":{"en":["Oral History"]}},{"label":{"en":["Subject - Personal or Corporate"]},"value":{"en":["Citibank (New York, N.Y.)","EastWest Institute","European Investment Bank","J.P. Morgan Chase \u0026amp; Co.","Mroz, John Edwin"]}},{"label":{"en":["Subject - Topical"]},"value":{"en":["Civil service","Clean energy","Democracy","Economics","European Union","Non-governmental organizations"]}},{"label":{"en":["Subject - Geographic"]},"value":{"en":["Europe, Central","Europe, Eastern","Russia","Slovakia","Ukraine"]}},{"label":{"en":["Language"]},"value":{"en":["English (primary)"]}},{"label":{"en":["Type IMT"]},"value":{"en":["video/mp4"]}},{"label":{"en":["Rights Statement"]},"value":{"en":["\u003cp\u003eCopyright © College of Charleston\u003c/p\u003e"]}},{"label":{"en":["Date Digital"]},"value":{"en":["2023-01-27"]}}],"summary":{"en":["\u003cp\u003eVazil Hudak discusses his career after leaving the EastWest Institute, including his time in the private sector with J.P. Morgan and Citibank, and, eventually, his tenure as Minister of Finance of Slovakia. He explains how EWI's ethos informed each chapter of his professional life and talks about the kinds of things that EWI might work on if it were active as an independent institution today.\u0026nbsp;\u003c/p\u003e"]},"requiredStatement":{"label":{"en":["Attribution"]},"value":{"en":["\u003cp\u003eCopyright \u0026copy; College of Charleston\u003c/p\u003e"]}},"provider":[{"id":"https://lcdl.aviaryplatform.com/aboutus","type":"Agent","label":{"en":["Lowcountry Digital Library"]},"homepage":[{"id":"https://lcdl.aviaryplatform.com/","type":"Text","label":{"en":["Lowcountry Digital Library"]},"format":"text/html"}],"logo":[{"id":"https://d9jk7wjtjpu5g.cloudfront.net/organizations/logo_images/000/000/212/original/LOHI_aviarybanner2.jpg?1741032082","type":"Image"}]}],"thumbnail":[{"id":"https://d9jk7wjtjpu5g.cloudfront.net/collection_resource_files/thumbnails/000/174/059/small/Hudak_Vazil_Dec2022.mp4_1674674672.jpg?1674674673","type":"Image","format":"image/jpeg"}],"items":[{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059","type":"Canvas","label":{"en":["Media File 1 of 1 - Hudak_Vazil_Dec2022.mp4"]},"duration":973.12,"width":640,"height":360,"thumbnail":[{"id":"https://d9jk7wjtjpu5g.cloudfront.net/collection_resource_files/thumbnails/000/174/059/small/Hudak_Vazil_Dec2022.mp4_1674674672.jpg?1674674673","type":"Image","format":"image/jpeg"}],"items":[{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/content/1","type":"AnnotationPage","items":[{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/content/1/annotation/1","type":"Annotation","motivation":"painting","body":{"id":"https://aviary-p-cofc.s3.wasabisys.com/collection_resource_files/resource_files/000/174/059/original/Hudak_Vazil_Dec2022.mp4?1674674671","type":"Video","format":"video/mp4","duration":973.12,"width":640,"height":360},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059","metadata":[]}]}],"annotations":[{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547","type":"AnnotationPage","label":{"en":["Transcript of Interview with Vazil Hudak, December 19, 2022 [Transcript]"]},"items":[{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/1","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"EMILY WHALEN\n\nWonderful. Thank you for sitting down for this last session, Vazil. So why don't we go ahead and get started. When we last talked, we discussed so many things, the Carpathian Foundation, the EastWest Institute's involvement in CELA and in the Bratislava process. I wonder if you could tell us a little bit about your decision to move on from the EastWest Institute, and give us an overview of your career after you left the institute.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=1.0,29.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/2","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"VAZIL HUDAK\n\nYeah, and the decision was not easy because I really enjoyed working at EastWest Institute, it became part of my life and part of my family. So such decisions are very, very difficult. And as we discussed previously, I started in 1990, 1991 and spent almost 15 years at EastWest Institute. Then in 1998, 1999, I went to Harvard Business School and with the help of some of the board members of the EastWest Institute, I managed to get what is called a small MBA. So then I was thinking what to do next? And I was also always thinking that it's nice to be on this kind of NGO, not-for-profit, give to everybody, do whatever can be done side, but that it's also useful to have some experience on the commercial side to see how the business is done and what it means to create profits, et cetera.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=29.0,98.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/3","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So eventually in 2014, '15, the opportunity came with Citibank. So I left EastWest Institute in 2014, I believe, and I joined Citibank. First in Prague and then in London. But utilizing my experience and networks, which I created during the EastWest Institute time. I was part of the so-called Public Sector Group, this was a group of bankers who was responsible for developing deals, with public sector companies. So basically state-owned companies in transport, in energy, et cetera. Plus of course working with government clients. So this was also an interesting way to enter into the private sector because I was able to bring experience from dealing with governments, with public institutions, also my network of contacts in Central, Eastern Europe. And it was a very interesting transitioning from this NGO/advisory type of activities, the EastWest Institute, to the commercial one. Not easy, because you have to adjust your mindset that now it's not only about doing good things, but also doing things which bring profits and returns to investors, and to shareholders.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=98.0,192.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/4","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But it was a very, very interesting transition. So going to banking sector, then after Citibank, I switched to JP Morgan. And stayed with JP Morgan until 2012 in London. And then another interesting opportunity came up in my life, which was basically a proposal to join the Slovak Government in 2012. After the elections, I was not a member of any of the political parties, but a friend of mine who was appointed Deputy Prime Minister, Minister of Finance, Mr. [Peter] Kažimír, he approached me with this proposal. Again, not an easy decision because I was never thinking about going into government. For me it was too bureaucratic, too kind of full of administration and stuff like that. But on the other hand, at the EastWest Institute we were advising governments what to do. So I thought, well, maybe this is an opportunity to actually do something on my own in the policy area and make some contribution.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=192.0,266.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/5","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And certainly also to kind of repay the country where I grew up and where I got the education, and so on. I went to the Slovak government, I was State Secretary in the Ministry of Finance in 2012. Stayed for two years in this position and then I became the Minister of Economy of Slovakia for another two years. Very interesting experience. Again, something completely different of course. But you have to learn how the government works, how public sector and state administration functions. Also not easy, not easy— yes, because this was the time of financial crisis, post-financial crisis, when many countries in European Union and Eurozone and Slovakia was already part of the Eurozone, were facing high debts, high deficits, et cetera. So it was necessary to deal with all these issues, but it was also an opportunity to learn a lot of things and do some interesting stuff like creating a Slovak Sovereign Fund, which I did, and also bringing the largest [foreign] investment in Slovakia's history, which happened when I was Minister of Economy. When Jaguar Land Rover came to Slovakia to produce Land Rovers in Slovakia— the only country, or first country outside of UK. So yeah, it was a very interesting time.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=266.0,356.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/6","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"And when I was ready to go back, maybe to commercial banking in 2016, there was a new opportunity to join the European Investment Bank, which is the bank of the European Union created by the, at that time, 28 countries of the EU— because UK was still part of European Union before Brexit. It is a large, actually the largest in the world, developmental banking institution, based in Luxembourg. So I went there. I spent four years in Luxembourg. Four and a half working with the European Investment Bank, which is an interesting mix of government, politics, and banking, but very exciting. Again, I was covering most of the countries of Central, Eastern Europe. So basically the region where I focus, or developed my expertise as part of the EastWest institute. I was continuing in a way as part of the European Investment Bank.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=356.0,425.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/7","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"So that finished in early 2020 and just as COVID was starting, I moved out of the European Western Bank and decided I thought, \"What next?\" I was with an NGO, this not-for-profit, I was with banking, commercial, for-profit sector, bank government. So the only area which I did not try was to be on the market myself, to be an entrepreneur, self-employed, who has to test his or her own value on the market. So I decided to create my own consulting company in Prague in 2020, and started doing different projects, advising governments, companies.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=425.0,480.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/8","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"Currently I'm engaged in quite a number of projects, mostly on the level of board memberships. I'm a member of the advisory board for JP Morgan for Europe, Middle East, Africa. I'm on the board, or investment committee of the Sovereign Fund of the Czech Republic, National Development Fund. On the board of largest Slovak Bank, which is part of Erste [Group], the board of Budapest airport, advising the Prime Minister of Georgia. And also doing some interesting investments into innovative companies from the region, mostly focused on clean energy, because I believe that the energy transition from fossil fuel into green energy is one of the biggest transformations of the current century. So investing into companies focusing on battery development and production renewables, charging stations, green hydrogen, et cetera. So it's very exciting, it's very diverse, many different really exciting projects.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=480.0,553.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/9","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"EMILY WHALEN\n\nYeah.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=553.0,555.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/10","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"VAZIL HUDAK\n\nAnd as part of this, it's always of course great to go back into the history with EastWest Institute. I very often meet people who somehow were connected to the EastWest Institute. Most recently as part of this investment fund, which is called Avanea, \"New Life\" —Avanea, which we created with a group of friends. And we are investing in two green energy projects.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=555.0,580.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/11","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I met in New York after many, many years, Rick Petri, who used to work for the EastWest Institute and who also after EastWest Institute went into private sector and investments, and now we are working together in this Avanea framework and we had many glasses of wine, remembering the EastWest Institute and wonderful time we both had at the institution. So life continues, but the memory and certainly the, I would say the basis which was created both professionally, but also I would say in terms of my personality, this always goes back to the EastWest Institute.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=580.0,626.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/12","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"EMILY WHALEN\n\nThat's wonderful. I'm interested in your assessment, you mentioned the importance of green energy transition. If the EastWest Institute were to be founded today, if there was going to be an EastWest Institute for the present moment, what are the areas that it would focus on, do you think?","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=626.0,651.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/13","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"VAZIL HUDAK\n\nGood question. Well, and this goes very, very much in line with thinking of John Mroz, because John Mroz was the founder and he was the power, the engine behind the brain, behind the EastWest Institute. I think he always had the ability to see new things and to position EastWest Institute as being the leader in the new areas of development. So I'm sure there will be some kind of work which will be connected with this transition to green energy.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=651.0,683.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/14","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"EMILY WHALEN\n\nThat's good.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=683.0,683.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/15","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"VAZIL HUDAK\n\nBringing together companies, utilities globally, which are focused on these issues, some new companies which are linked to that, and connecting governments and private sector leaders to move this process, which is quite complex and painful, especially for Central and European countries, which traditionally have been based on fossil fuel. So I think that would certainly be part of the portfolio.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=683.0,713.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/16","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"I actually, I was thinking quite a lot about this unfortunate, tragic war between Russia and Ukraine, and the aggression of Russia against Ukraine. And it seems to me that if John Mroz and EastWest Institute was alive, that maybe this conflict would have been prevented because I think the fact that the war started was also unfortunately demonstration of the lack of preventative diplomacy and this second track diplomacy that John Mroz and we as people at the EastWest Institute, which we developed, I think is something which is missing now, that there is not enough communication between different parties. There a lot are many monologues, but I mean, not enough dialogues and including with countries like Russia or China. And I think we need to find new ways how to recreate this dialogue and trying to understand each other, or at least to prevent such tragic events as are happening now in Ukraine. So I'm sure that John Mroz and EastWest Institute would be as active and dynamic and making differences as it was in '90s and maybe certain things would be better than they are today.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=713.0,799.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/17","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"EMILY WHALEN\n\nYeah. I wonder, given your very diverse and fascinating career... Part of this oral history archive were preserving for researchers, but we're also hoping that students of international relations will take advantage of it. And I wonder, having worked in government and in the private sector and in the NGO space and now as an entrepreneur yourself, what sort of advice you would give to students interested in the international arena and what you would suggest to students hoping to build a career in international relations?","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=799.0,838.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/18","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"VAZIL HUDAK\n\nWell, it's difficult to give generalized advice because...everybody is different and has different priorities, but at least what did work in my case was to keep your mind and eyes open to new opportunities. Now, don't be afraid of changes and new challenges because all, even if they seem to be very difficult and tough to deal with, they always bring the person further, and they have to help to develop. And there is a saying in Slovak, what doesn't kill you makes you stronger, I think it's not only in Slovak, it's general.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=838.0,883.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/19","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"EMILY WHALEN\n\nYeah.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=883.0,883.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/20","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"VAZIL HUDAK\n\nSo I think that this is one thing to be really open to new opportunities, to new things to do. Second, I would say is certainly be flexible to be able to adjust and whether you start from, as I did from NGO and Not-for-profit and then evolve into for profit, heavy banking, very commercial profit oriented to government, this lines of evolution can be very diverse.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=883.0,913.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/21","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"But I think you have to do things with your heart and I think this kind of guts feeling is very important, but you must feel good about what you are doing and it doesn't matter, basically, and this was my experience of one of the experiences in different sectors, that as long as you feel that what you are doing is right and that it has the basic values that you believe in, it basically doesn't matter whether it's government, whether it's for profit, whether it's not for profit. You have to feel good about what you are doing, and then it makes sense. And then it brings joy and also makes good impact on the people around you.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=913.0,953.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/22","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"EMILY WHALEN\n\nWhat a great place to end. Thank you so much, Vazil, appreciate you taking the time.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=953.0,958.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/23","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"VAZIL HUDAK\n\nThank you, Emily as well. It was a pleasure and I hope that the name of his EastWest Institute, it's legacy will continue also as the new young generation, like yourself, because I believe that the institution deserves it.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=958.0,972.0"},{"id":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059/transcript/41547/annotation/24","type":"Annotation","motivation":"transcribing","body":{"type":"TextualBody","value":"EMILY WHALEN\n\nI hope so too.","format":"text/plain"},"target":"https://lcdl.aviaryplatform.com/collections/1894/collection_resources/85859/file/174059#t=972.0,973.12"}]}]}]}