Epam Incoming CEO Balazs Fejes Bets on Engineering, AI, and Client-First Transformation

The technology services industry is in a critcial inflection point.  A nexus of forces are altering the very fabric of enterprise IT. Cloud maturity, the rapid rise of AI, and the growing power of India-led Global Capability Centres (GCCs) are redrawing how enterprises design, build, and deliver. In this disruption, one theme cuts across C-Suite is : engineering may be evolving, but it is far from disappearing.

Few leaders are better placed to capture this shift than Balazs Fejes, who will take over as Global CEO and President of EPAM Systems on September 1, 2025. A two-decade veteran of the company, Fejes has worn many hats — CTO, CRO, and now CEO — blending deep technical grounding with client-first instincts. As EPAM prepares for its next chapter, he is clear: the company’s edge lies in engineering excellence, applied with consulting depth and product-building DNA.

Engineering as Bedrock

Fejes is quick to push back against the notion that AI will render traditional engineering obsolete. Tools may change, he admits, but the core remains.

“What’s beneficial for me is that I still understand the technology. I can separate better than some others the hype from the reality because I’m really working with the foundations and trying to use it,” he says.

For him, engineering is not just about writing code; it is about architecting complex, enterprise-grade systems that scale and deliver business value. To make AI projects succeed, organisations must first modernise their infrastructure, move to the cloud, and put their data in order. “Without these foundations,” he cautions, “AI projects fail.”

This conviction is shaping EPAM’s approach: train teams in AI tools, yes, but also double down on cloud, data platforms, and system modernisation — the less glamorous work that determines whether AI can actually deliver.

AI as the New Internet Moment

When Fejes looks at AI, he sees history repeating itself. He compares the current wave to the early days of the internet in the mid-1990s. Back then, new technologies birthed entirely new business models. AI, he argues, is doing the same, only with decades of infrastructure and global interconnection accelerating the pace.

“This is not just an IT change — it’s a business change,” he explains. And that, he believes, is why EPAM’s identity matters. Unlike firms that lean only on outsourcing or only on consulting, EPAM has deliberately built a hybrid model: engineering scale, product innovation, and advisory capability under one roof. It is this blend, he says, that clients will need to navigate the AI reset.

The New Client Landscape

Enterprise decision-making has also changed fundamentally. Where once the CIO drove technology discussions, today CFOs, CMOs, and even CEOs are deeply involved. Each brings a different set of expectations: cost optimisation, ROI, customer engagement, or revenue growth.

“The questions and their asks are very different,” Fejes explains. “Our role is to bring all these stakeholders together and deliver cohesive solutions that cut across silos.”

That shift has turned service providers into brokers, mediating across departments and building systems that don’t just work in isolation but deliver integrated outcomes for the business. It’s a more complex role, but one that positions EPAM closer to the strategic core of its clients.

India and the GCC Play

India has emerged as a critical piece of this puzzle. With over 10,000 employees, it is EPAM’s largest single-location delivery hub. What began as a back-office engine serving North America and Europe is now something more.

The rise of GCCs has made India a centre of decision-making. Fejes points out that when GCCs mature, the primary stakeholders — and budget holders — often sit in India. That changes the conversation. It’s no longer just about talent and cost; it’s about equipping GCCs with the processes, tooling, and AI adoption strategies they need to transform.

“Many of the older GCCs were not prepared for the AI revolution,” Fejes says. “We help them modernise, retrain employees, and redesign processes so they can adapt.” For EPAM, this is a “net new opportunity” — partnering with global companies on Indian soil to drive transformation at source.

Vertical Traction and Legacy Headwinds

EPAM’s portfolio spans industries from financial services and retail to media and learning. Financial services remains a major vertical, but some of the fastest adoption is happening in business information and education, where AI is directly challenging existing models.

Legacy modernisation, however, remains a hurdle, especially in highly regulated sectors like BFSI and healthcare. Fejes is pragmatic here. Not all organisations move at the same pace. Some are leaders, others laggards constrained by regulation. But he sees AI as the forcing function.

“Without modernisation, you cannot expose data to AI,” he says. Encouragingly, the costs of modernisation are falling, making it more feasible to unlock decades-old systems. Leaders, he predicts, will use AI not just for optimisation but to drive revenue and build new products.

Leadership Leanings

Asked about his guiding principles, Fejes highlights three timeless ones: transparency, entrepreneurship, and inclusiveness.

He believes in open communication — with employees, clients, and investors. He believes in giving people space to experiment rather than micromanaging. And he believes inclusiveness is non-negotiable for a company that spans geographies and cultures. “If we do this well, we’ll foster an innovation-driven culture that can adapt and grow,” he says.

Epam Systems:The Road Ahead

As he prepares to take charge, Fejes is clear on his immediate priorities: make AI projects deliver tangible business benefits, strengthen EPAM’s engineering foundations, and nurture a culture that empowers people.

In many ways, his leadership represents continuity with renewal. Continuity, because EPAM’s engineering-first ethos remains intact. Renewal, because client needs, AI disruption, and India’s strategic rise are reshaping the playbook.

For Fejes, the mandate is straightforward: to steer EPAM as a trusted partner that not only builds technology, but also redefines how businesses thrive in the AI era.