Costea was at the end of his mandate at Eximbank president. He was named Eximbank president early 2009.
Eximbank will keep its former vice-president Paul Ichim.
Also, Mihai Mandres was named vice-president instead of Luminita Manolache. Mandres has been working for ING Bank and Eximbank.
The government is the majority shareholder of the Eximbank, with more than 95%, while regional investment fund SIF Oltenia (SIF5.RO) owns 3.27% and SIF Banat-Crisana (SIF1.RO), SIF Moldova (SIF2.RO), SIF Transilvania (SIF3.RO) and SIF Muntenia (SIF4.RO) own the rest. Under the circumstances, the appointments to the management of this institution are largely politically decided and the “tradition” was kept this time, as well.