Radu Craciun, new president and general director of BCR Pensii

Key move. Radu Craciun named president of BCR Pensii, following ASF approval

Newsroom 11/04/2016 | 10:26

The Financial Supervision Authority (ASF) has approved the appointment of Radu Craciun as president and general director of BCR Pensii, the pensions arm of the Austrian lender, as of April.

Craciun had been the chief economist and head of research at BCR in the past two years.

“I am glad that I have the opportunity to use the experience I have gathered in the past six years in which I have contributed to the consolidation of the private pensions system in Romania,” said Craciun in a statement.

The two pension funds managed by BCR Pensii had net assets worth RON 1.7 billion at the end-February, up 26.7 percent compared to February 2015. The company manages the mandatory private pension accounts of 667,896 participants.

In the optional private pensions funds, BCR has seen a 19.4 percent expansion of assets by February 2016, against the same period of last year, but did not mention the amounts it managed. The company also said it had 116,203 participants.

BCR had a market share of close to 30 percent in the optional private pensions system.

Craciun is president of the Association of Financial and Banking Analysts in Romania (AAFBR). He has worked coordinated in the past the research and capital market analysis departments at ABN AMRO, but was also the investment director and deputy director of Eureko, which managed two private pension funds.