OTP replaces head of Romanian subsidiary

The central management of Hungarian banking group OTP replaced the head of the Romanian subsidiary, László Diósi, who served in this position for more than 11 years.

OTP has picked a candidate from outside the group, namely Gyula Fatér, who until October worked for Budapest Bank. Interestingly, Fatér was brought initially last year in Bucharest to replace another member of OTP Romania management, Gábor Ljubicic, the vice-president responsible for retail, who returns to Hungary for personal reasons, Profit.ro reported. Eventually, the Hungarian bank chose to appoint Fatér as the head of the entire Romanian subsidiary, and not only as vice-president of retail.

Diósi was appointed to OTP Romania in May 2007. Last year, OTP failed to take over the Romanian subsidiary of Greek NBG group, Banca Romaneasca, as Romania's National Bank (BNR) rejected the transaction. This was a heavy blow to the regional expansion plans of OTP.

Gyula Fatér is a graduate of the Corvinus University in Budapest and, from 2006 to 2014, he worked for GE Money and GE Capital. In 2014, he took over the position of chief retail at Budapest Bank, a bank owned by GE Capital until 2015, when it was taken over by the Hungarian state through an investment company.

(Photo source: the company)