State Secretary Manuel Costescu, the new head of Romania’s Department for Foreign Investments and Public-Private Partnership, had total revenues of GBP 200,000 in 2015 as an Executive Director of J.P. Morgan Chase London, according to his wealth statement cited by local Profit.ro.

Costescu still owns J.P. Morgan shares worth USD 82,000. He also has two bank accounts. One of them has a balance of GBP 60,000 and was opened at HSBC London in 2010 whereas the other has a balance of USD 6,000 and was opened at the Bank of America New York in 1995.

He also has some USD 190,000 in the private pension fund Aon Retirement and GBP 132,000 in the private pension fund Tower Watson Retirement, according to the document.

Prime Minister Dacian Ciolos appointed Costescu to lead the new department in February. This department should become an agency for promoting Romania’s economic interests locally and abroad.

editor@romania-insider.com