Greeks bring new head to Banca Romaneasca

Banca Romaneasca, the domestic branch of Greece”s largest financial group, National Bank of Greece, has replaced Petru Rares as general manager. Rares had led the Greek bank since it was set up in 1993.
Andreas Maragkoudakis, a Greek banker with over 30 years of experience, including work on the domestic market, has been appointed to replace Rares as general manager and deputy chairman of the board of directors.
The decision to change the management was made by the General Meeting of Shareholders, which met in late February.
Maragkoudakis has worked in the Romanian banking system for almost seven years, during which time he filled the positions of deputy chairman with Alpha Bank Romania and Bancpost.
Before coming to Romania, Maragkoudakis held top positions with various banks, from American Express to Piraeus Bank, Alpha Bank and Eurobank Ergasias, accumulating in the process an experience of over 30 years in the financial-banking sector.
Rares will continue as a member of the bank”s board of directors and will hold the position of Senior Country Advisor for the National Bank of Greece Group, the main stockholder in Banca Romaneasca. He says the management change was meant to improve perception of the group on the domestic market.
Banca Romaneasca recently raised its capital by around 28.8 million euros through a contribution in cash by its main shareholder. The funds are to be used for the development of the bank in a bid to regain lost ground. As a result, the bank”s share capital has come to exceed 41 million euros. liviu.chiru@zf.ro