Former head of Romania's financial regulator joins EY as advisor

Misu Negritoiu, the former president of Romania’s Financial Supervisory Authority (ASF), has joined consultancy firm EY Romania as Senior Advisor. He will offer consultancy for transactions a support EY in developing its strategy on the local market and internationally. Negritoiu, 67, worked for ING Bank Romania from 1997 until 2013, being deputy general manager and then taking over as CEO in 2006. He was named head of the financial regulator ASF in 2014. In 2017, the Parliament dismissed him from this position after a controversy related to an alleged Government intention to nationalize private pension funds. The president of the Social Democratic Party (PSD) Liviu Dragnea accused Negritoiu of starting a rumor that the ruling party wanted to nationalize private pension funds, which was then distributed by the biggest pension fund on the market, managed by Dutch group NN, to its clients. Under political pressure, the ASF sanctioned NN Pensii and its manager with high fines and revoked the locense of the company’s general manager Raluca Tintoiu. editor@romania-insider.com