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September 30, 2022

Central Bank blocks the nomination of two CEC vice-presidents proposed by PDL

The National Bank of Romania (BNR) rejected the proposals made by the Finance Ministry – which represents the state in the shareholding structure of CEC Bank – for two positions of bank vice-presidents: Andrei Stamatian, former president of Raiffeisen Banca pentru Locuinte and the son of the Cluj County Prefect, for the position of first vice-president in charge with financial matters, and Razvan-Andrei Micu, counselor of Finance Minister Gheorghe Ialomitianu, for vice-president in charge with retail, said banking sources quoted by Ziarul Financiar newspaper.

Following the BNR rejection, the Finance Ministry will come with new proposals and, in fact it already nominated Stamatian (34) for another position of first vice-president, now in charge with retail. If accepted by BNR, he will become the youngest executive in a top bank. Meanwhile, Micu will be appointed as non-executive member of the Board of Administrators. Neither BNR, nor the Finance Ministry was willing to comment the moves or provide explanations to the media. Stamatian and Micu were the main changes attempted by the PDL-controlled Finance Ministry in the management team of CEC Bank, led by Radu Ghetea, who was appointed as president of the bank in 2007. Ghetea has been nominated by former Liberal minister of Finance Varujan Vosganian, and he has constantly enjoyed the support of BNR, which also secured him a second term in office.

Unusually for a state institution, where political nominations are norm, Ghetea was allowed to choose the members of his team, so he brought in the CEC Bank management Gheorghe Carabasan, a veteran of the banking system, whom he promoted in 2008 as first vice-president. Previously, in 2007, he brought Mihaela Lucica Popa as corporate vice-president. According to the sources, acting executive vice-president Cristian Tudorancea, who is holding this position since 2005 and is also in charge with retail, will stay with the bank as network manager, reporting to Stamatian. Tudorancea has the longest experience with the management of CEC Bank, as he was appointed vice-president in May 2005, when the president of the bank was Eugen Radulescu – now auditing director with BNR.

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