ASF president could become a board member of Romanian CEC Bank

Misu Negritoiu, the current president of the Financial Supervisory Authority (ASF), has applied for one of the board member positions at state-owned lender CEC Bank, according to sources in the market and the government, reports Economica.net. ASF will have a new president and deputy president starting this spring, the same sources said. In February, the procedures to dismiss Negritoiu from ASF will continue. They started in October last year, but were interrupted by the parliamentary elections. Negritoiu is considered responsible for the bankruptcy of the local insurers Astra and Carpatica Asig, and for the problems in the mandatory car insurance (RCA) market. In December last year, the Finance Ministry launched the recruitment process for the nine members of the board of directors at CEC Bank. Some 70 applications were received by January 4, which are now analyzed. Negritoiu could land well in the new position as board member of CEC Bank. The lender is one of the state institutions paying the highest salaries to its board members, together with Eximbank, the other state-owned lender. editor@romania-insider.com