Andreea Pipernea will take over as CEO of the pension fund manager NN Pensii from October 9. Her appointment needs to get the Financial Supervisory Authority’s approval.

Pipernea will replace Raluca Tintoiu, who will continue her career internationally within the NN Group.

The new CEO has over 17 years of experience in banking. She began her career at ABN Amro Bank and has held several management positions over the years in risk management, business development and corporate banking. Pipernea was previously vice president of the corporate and investment banking department within Citibank Romania.

She will also take over as deputy president of the Romanian Pension Funds' Association - APAPR, representing NN Pensii in relation with authorities.

Raluca Tintoiu was removed from the helm of NN Pensii after the scandal related to the state’s intention to nationalize private pension funds. Earlier this year, NN Pensii informed its clients that the authorities were taking into account nationalizing private pension funds. The Government denied the rumor and ASF fined the company and asked for the dismissal of its CEO.

Weeks after, the new finance minister Ionut Misa said that the mandatory private pension funds would be abolished. He then retracted his statement saying that it was a misunderstanding. In August, the Government announced that the state would no longer put money into private pension funds starting next year.

NN Pensii is the biggest private pension manager in Romania. It manages assets of EUR 2.8 billion for 1.94 million contributors.

editor@romania-insider.com