Polish manager Greg Konieczny will give up his duties as CEO and portfolio manager of Fondul Proprietatea, the biggest investment fund in Romania, starting April 1. He will be replaced by Johan Mayer, who has been co-portfolio manager of Fondul Proprietatea since November 1, 2016.

Greg Konieczny has been leading Fondul Proprietatea since US group Franklin Templeton took over as the fund’s management company, in September 2010. Back then, the Romanian state still controlled the fund. Meanwhile, the fund was listed on the Bucharest Stock Exchange and London Stock Exchange and foreign investors became the fund’s biggest shareholders.

As manager of Fondul Proprietatea, Greg Konieczny led some of the biggest transactions in Romania, including the fund’s sale of significant stakes in OMV Petrom, Romgaz, Transgaz, Transelectrica, and other big local companies. He also had an active role in promoting Romania to foreign investors, through the roadshows and investor meetings Fondul Proprietatea organized in New York, London, and other financial centers. He advocated for corporate governance principles in state-owned companies.

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Konieczny will continue as Director of Specialty Strategies for the Templeton Emerging Markets Group (TEMG).

Starting April 1, 2018, Johan Meyer will become sole lead portfolio manager of Fondul Proprietatea and sole CEO of Franklin Templeton Investment Management in Romania and he will be continuing in his role as legal representative for the fund.

Johan Meyer joined Franklin Templeton Investments in 2004. Prior to his role in Romania, he was Managing Director South Africa, and the Director of Africa Strategy for Templeton Emerging Markets Group. There he was responsible for setting the overall strategy for his respective area, providing guidance and thought leadership, coordinating appropriate resources and coverage, and leveraging the group's expertise to add value across products within the strategy. He holds a bachelor's degree in commerce and an honors degree with specialization in economics from the University of Pretoria. He speaks English, Afrikaans and is currently learning Romanian.

The Franklin Templeton Bucharest team consists of five locally-based investment analysts.

Fondul Proprietatea has net assets worth EUR 2.29 billion and its portfolio includes a 20% stake in state-controlled power producer Hidroelectrica, and significant stakes in OMV Petrom, the Bucharest Airports Company, the Romanian Post, Engie Romania and other companies in the energy sector.

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editor@romania-insider.com