The new head, who has vast international banking experience, according to a Volksbank press release, will be announced after being approved by the central bank (BNR).
In October 2011, control of Volksbank Romania was transferred to VBI Beteiligungs, as Volksbank International was bought by Russian Sberbank, but the Romanian unit was left out of the transaction.
Austrian group Volksbank holds 51% in Beteiligungs, while German DZ Bank AG / WGZ Bank AG and French BPCE hold 24.5% each.
Volksbank entered the Romanian market in 2000 and it currently has assets worth EUR4.7 billion and a network of 135 units.