Nomination of Nicolas M. Salgo To Be United States Ambassador to Hungary

The President today announced his intention to nominate Nicolas M. Salgo, of Florida, as Ambassador to Hungary. He would succeed Harry E. Bergold, Jr.

Mr. Salgo was a trainee and export manager with Manfred Weiss Co. in Budapest, Hungary, in 1933-1938 and in Geneva, Switzerland, in 1938-1939. He was partner and director of Salvaj and Cie in Geneva in 1939-1948. In 1948-1958 he was owner and president of Indeco Corp., Coal Credit Corp., and Salvaj and Co. in New York City. He was executive vice president of Webb and Knapp, Inc., in New York City (1950-1957) and president and chief executive officer of the Norbute Corp. in Butte, Mont. (1954-1960). He was founder and owner of Nicolas Salgo and Co. in New York City in 1959-1983. In 1960-1974 he was vice chairman and chairman of Bangor Punta Corp. and subsidiaries in Greenwich, Conn. He was co-owner and president of the ZX Ranch in Paisley, Oreg., in 1966-1980.

Mr. Salgo was founder and limited partner of the Watergate Improvement Associates in Washington, D.C. (1960-1977), and has served as chairman of the Watergate Companies since 1977. He has also been a consultant to the United States Information Agency since 1982 and a member of the International Private Enterprise Task Force since May 1983.

He received his LL.D. and Ph.D. from the University of Budapest (Hungary) in 1937. His foreign languages are fluent Hungarian, French, and German. He was born August 17, 1914, in Budapest, Hungary, and became naturalized in 1953.