By Emea Riga
After the acquisition of the Piraeus Bank network Romania, the American investment fund JC Flowers & Co has officially entered the banking sector. The First Bank opened its first branch yesterday. The Greek bank Piraeus Bank disappears from the Romanian banking landscape after almost two decades of existence, making it the place for American banking.
"We" reborn "on June 28, when the US investment fund J.C. Flowers acquired Piraeus Bank Romania. It was the beginning of a profound transformation for us. We are now working with a new shareholder, with a new board of directors and a new management team. We want to bring banking services to a new level and to boost the market - we are here to make American-style banking. Our banking style goes beyond what is normally OK on this market to "better than OK", said Dominic Bruynseels, First Bank executive chairman at the inauguration event.
The British, who has a banking career for three decades and four years CEO of BCR, took over the executive management of the bank, while Nicolae Danila, former executive president of BCR, heads the board of directors of First Bank.