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NBR rejects two CEC vice-president nominations made by ruling PD-L party

The Finance Ministry controlled by PD-L (Democratic LiberalParty) has brought CEC into the undesirable situation of the NBRrejecting two managers nominated by the shareholder.

The National Bank rejected the nominations of the FinanceMinistry, which represents the state as shareholder of CEC Bank, toappoint Andrei Stamatian, son of the Cluj prefect, asvice-president with financial responsibilities, and ofRăzvan-Andrei Micu, advisor to finance minister GheorgheIalomiţianu, as retail vice-president, say banking sources.

The Finance Ministry will now have to reformulate itsnominations: Stamatian, 34, will be nominated as vice-president ofthe state-held bank, but this time in charge of retail, while Micuwill be nominated as non-executive member of the Board ofDirectors.

Contacted by ZF, representatives of the NBR (National Bank ofRomania) did not wish to comment on the matter. Nor did the FinanceMinistry give comment by edition close.

Stamatian and Micu were the major changes that the FinanceMinistry controlled by PD-L attempted to make in the team of RaduGheţea, who has been CEC president since 2007. Gheţea had beenappointed at the helm of CEC by liberal minister Varujan Vosganianand has constantly had the NBR's endorsement, which has ensured therenewal of his soon-to-expire mandate. In a less common practicefor state institutions, where nominations tend to be political, hehas had the freedom to choose his collaborators, so he broughtGheorghe Carabasan, a veteran of the banking system to CEC, whom hepromoted in 2008 as first vice-president. He also brought MihaelaLucica Popa as corporate vicepresident in 2007.

However, politics has constantly sought to infiltrate into themanagement of the biggest state-held bank in one form or another,but at least as far as the president is concerned, the traditionsof making changes every time a different party came to power wasbroken with.

In CEC's General Meeting of Shareholders on March 31st 2011,PD-L has sought to take advantage of the fact that the members ofthe executive management team were approaching the end of theirmandate to bring two new members on board: Andrei Stamatian, withsix years' experience in the banking sector and Andrei-Răzvan Micu,with no experience at all in this sector, prompting the NBR toreject his appointment to an executive position.

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