Romanian top banker holds EUR 2.2 mln shares in real estate fund

Dan Pascariu, chairman of the Supervisory Board of local lender UniCredit Bank Romania, holds over 171,000 shares in real estate fund NEPI, which has been the most active real estate investor in Romania in recent years. Considering the most recent trading price for NEPI’s shares on the Bucharest Stock Exchange, of RON 51.8 per share, the Pascariu’s stake has a market value of about EUR 2 million. He owns the shares indirectly, via the company Garsol Limited. Pascariu is also the fund’s non-executive chairman. NEPI is the owner of the Mega Mall and Promenada Mall shopping centers in Bucharest. Its portfolio also include Floreasca Business Park, The LakeView office building in Bucharest, City Business Centre in Timisoara, and The Office project in Cluj-Napoca. Dan Pascariu started his banking career in the ‘80s at the Romanian Bank for Foreign Trade - Bancorex. After the Revolution, he became the bank’s president. In 1994 he went to open the Bucharest Bank, which is now Alpha Bank. In 1996, he was appointed president of CA-IB Financial Advisers, and in 1997 he took over as president of the board at Austria Creditanstalt Romania, which later became HVB Romania and then UniCredit Tiriac Bank Romania, following the UniCredit HVB merger. editor@romania-insider.com