Romania's Fondul Proprietatea choses ING Bank to deposit its money after Bancpost contract expires
“We organized a rigorous selection process with some of the most experienced banks operating in Romania”, said Greg Konieczny, fund manager at Fondul Proprietatea.
Launched in December 2005, Fondul Proprietatea was created to compensate the Romanian citizens whose properties were confiscated by the former communist regime. Following an international auction announced in December 2008, Franklin Templeton won in July 2009 the EUR 4.06 billion mandate of Fondul Proprietatea. Franklin Templeton officially took over the role of investment manager and administrator of the Fund on September 29, 2010.
Irina Popescu, irina.popescu@romania-insider.com