Misu Negritoiu, proposed for the office of ASF president

The former CEO of ING Bank Romania will undergo hearings in the Parliament committees next Monday and will be voted by plenum on Tuesday.

The former CEO of ING Bank Romania, Misu Negritoiu is proposed for the office of president of the Financial Supervisory Authority (ASF), PSD president PM Victor Ponta announced yesterday. He added that he discussed the matter with the governor of the National Bank of Romania, Mugur Isarescu and they agreed – also with the support of the Parliament – to have a “de-politicised” leadership of ASF. “We discussed about the intention to attempt, jointly with the Parliament, to have a financial supervisory authority at European standards, de-politicised, with the efficiency and credibility of BNR, and for the top office in the institution we both consider that Mr. Negritoiu has the professional experience and profile in order to successfully achieve this project,” Ponta said, adding that Negritoiu accepted the proposal.
Misu Negritoiu will undergo hearings with the specialised Parliament committees on Monday and Tuesday he will be voted by the Parliament for this office. “I discussed with him that, in any variant, he will earn less money than at the private bank where he works now, but he is someone who does not come to ASF for money – he will lose some – and comes for a project and, I believe, for his career, it is important for him to succeed in this project,” Ponta added.
Negritoiu was CEO of ING Bank Romania and currently is president of the bank. An economist, he also was state minister for Coordination, Strategy and Reform (1992-1993), presidential aide for economic and reform matters to ex-president Ion Iliescu and a deputy in the Parliament legislature 1996 – 2000. In May 1997 he resigns from Parliament and moves to the private sector, at Anglo-Dutch bank ING Barings, as corporate finance manager. “I was overwhelmed by the emptiness of my role as deputy: in the territory, voters asked me to give them jobs or complained about losing lawsuits, while in the Parliament it was largely a waste of time,” Negritoiu recollects the time he spent as a deputy, quoted by Hotnews.  In 1999 he is promoted as vice-president and deputy CEO of ING Romania. On 1 August 2006, Negritoiu became CEO of ING Bank Romania and president of the Country Committee of ING Romania, a financial group which includes ING Bank Romania, the life insurance and pensions company ING Asigurari de Viata (Nederlanden), the factoring firm ING Commercial Finance, the leasing firm ING Lease and the real estate investment company ING Real Estate Investment Management. Negritoiu thus becomes the first local banker who takes over the executive management of a large bank with majority foreign capital. At that moment, ING was the 4th largest bank in the Romanian market based on the value of assets. In parallel with the professional activity, he also has a didactic activity as associate professor with the Faculty of International Economic Relations of ASE Bucharest. He was awarded the title of Doctor Honoris Causa of Hertdforshire University (England). Negritoiu (64) is married and has two children. According to Hotnews, he owns no business and has only one property, in the Cornu commune.

Leave a Reply