Alex Massaci, the former head of private clients and taxation with PricewaterhouseCoopers is the new director of Bank Gutmann Romania. Massaci, 47, has been working with PwC for the last 18 years. At Bank Gutmann, he will replace Ilinca von Derenthall.

Austrian bank Gutmann, which specializes in private banking and wealth management hopes to double its clients base in Romania next year, from a current number of 50, according to previous statements. The bank started working on the Romanian market in the first half of 2010 and managed to get 50 clients during the first year of activity.

Founded in 1922, Privatbank Gutmann is a wealth management specialist and market leader in Austria, according to the bank. 80 percent in the bank is held by the Kahane family, another 20 percent by a total of twelve partners.

Gutmann bank, with assets of EUR 13.6 billion, has 2,000 clients and 170 employees. It is active in Austria, Hungary, Slovakia, Bulgaria, Russia and Ukraine.

editor@romania-insider.com