Thus, Nicolae Danila replaces Valentin Lazea, BNR’s chief economist with BNR.

Transfond has replaced almost the entire Board of Directors made up of nine members. Transfond has kept Radu Ghetea as vice-president and also CEC president, as well as Mihai Bogza, as member and Board of Directors member with Bancpost. Transfond’s other vice-president, Ion Nitu, was replaced with Leontin Teodorici, deputy general manager with Banca Transilvania.

Transfond’s Board of Directors equally includes Dan Pascariu, president of Uni¬Credit’s Board of Directors, and Paul Ursăciuc, IT and operations executive vice-president with BCR.

Transfond’s executive officer is Sabin Carantina.

The operator is owned by BNR and other 23 commercial banks.

(English version by Manuela Panescu)