Largest Romanian financial group completes takeover of pension fund manager

The biggest Romanian financial group - Banca Transilvania, through its asset management divisions BT Asset Management (BTAM) and BT Investments, received the final approval from the market regulator ASF for completing the acquisition of Certinvest Pensii, the only independent pension fund manager still active on the market.

BT announced in October the intention to expand into the pension funds segment by signing an agreement to take over Certinvest Pensii, founded and controlled by local investor Eugen Voicu.

“We start with almost 10,000 clients and over RON 75 million under management. There is a period of integration of Certinvest Pensii into the BT Financial Group and training for clients. We address those who establish a long-term plan for the private pension,” said Aurel Bernat, general manager of BT Asset Management.

“Through this acquisition, BT aims to stimulate long-term savings through the Pillar III pension funds, an optional instrument with a fast growing interest among active people. We want the future BT pension company to become a relevant player in this market segment, based on the model of the companies we already have in Banca Transilvania Financial Group,” said Ömer Tetik, CEO Banca Transilvania.

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