“The ARB board decided to appoint Florin Danescu as executive president starting December 1, 2011,” the association said in a news release.
Danescu, who will give up his position within RIB, has extensive top management experience in Romanian banking. He has run RIB for the past three years.
The ARB amended its statute in April, turning the Managing Board into a Board of Directors, and shareholders approved the employment of an executive president.
The executive president runs the association’s day-to-day operation, while the Board of Directors, run by Radu Ghetea, approves the association’s strategic actions.
People close to the matter told MEDIAFAX that Danescu will receive a monthly salary of some EUR10,000.
ARB members include lenders and branches of foreign banks active in Romania.