Security firm Rosegur has appointed Daniel Timofei general manager, the first Romanian to hold this position. He plans to add new business lines, such as the transport of valuable assets and monitoring, while investing in a cash processing center in Bucharest. Currently, guard services make 65 percent of Rosegur's activity.

Daniel Timofei has been working in the Eastern Europe, the North America and Asia in companies like Lear Corporation, where he was General Manager Romanian Operations and then moved on to become Operations Director and Country Manager (Cebu, Philipines). Timofei holds an MBA degree from the Michigan State University.

Rosegur is the third largest company on the local security market, according to its data. It was created in 2005, through the merger of Spanish Prosegur and GED Eastern Fund II. Rosegur is the former Dragon Star Guard. It owns 22 subsidiaries in Romania. Prosegur is listed on the Madrid Stock Exchange and has a market capitalization of EUR 2.6 billion. Its yearly revenues reach EUR 2 billion from the 12 countries where it is active.

The local security market is shared by players like G4S Romania, Securitas, BGS, UTI Group and Interguard Group.

editor@romania-insider.com