France-based Cetelem, the largest consumer finance provider on the Romanian market, have appointed a Romanian at the helm of local operations, after the business was in the hands of an expat for several years. The new CEO of Cetelem is Daniel Boaje, former deputy CEO of the company, who replaces French-born Philippe Foursy, after he took over management of BNP Personal Finance in Morocco. Cetelem is held by French giant BNP Paribas, which also holds an insurance company (Cardif) and two leasing companies (BNP Lease Group and Arval) on the local market. Lately, there has been a visible trend whereby multinationals appoint Romanian managers to replace expats, with the most recent example being ING Asigurari, leader of the life insurance market. Its management was taken over last month by Cornelia Coman, former deputy CEO of the company, who replaced Dutch-born Bram Boon.
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