The Romanian Capital Market - Evolution and Outlook
What 2019 has in store for local and international businesses? How do entrepreneurs, investment managers and pension funds cope with unpredictability in a fast pace changing environment? What compass do they use to navigate their way in the waters of uncertainty?
The most brilliant minds in investments and entrepreneurship will be on stage on February 25th in Bucharest to answer some of the most boiling questions of the day at the first edition of the International Summit dedicated to the Romanian capital market.
Radisson Blu Hotel, Atlas Ballroom, Bucharest
February 25th, 9:00 AM
9 – 9.30 AM Welcome and registration
Important note: Access to the event free, and it can be done on February 25th starting from 9:00 AM based on: prior registration, order of arrival to the event location, and within the number of available seats.
Thank you for your understanding!
General Moderator of the event: Claudiu Pandaru, Journalist, DIGI24
9.30 – 10.15 AM Opening session
- Adrian Tanase, CEO, Bucharest Stock Exchange
- Valentin Lazea, Chief Economist, National Bank of Romania
- Mihai Marcu, President, MedLife Group
- Omer Tetik, CEO, Banca Transilvania
- Lucian Anghel, Chairman, Bucharest Stock Exchange
10.15 – 11.45 AM From Business to Superbusiness
- Dragos Petrescu, Founder, City Grill
- Florin Talpes, Founder, Bitdefender
- Sergiu Negut, Business Growth professional
- Marius Stefan, Founder, Autonom
- Adrian Mihai, Founder, FAN Courier
- Dragos Anastasiu, President, Eurolines Romania Group
Moderator: Andreea Rosca, founding member Romanian Business Leaders
11.45 AM – 12.15 PM Coffee Break
12.15 – 1.45 PM Growing entrepreneurship through the stock exchange
- Adrian Tanase, CEO, Bucharest Stock Exchange
- Anca Harasim, Executive Director, AmCham Romania
- Mihai Marcu, President, MedLife Group
- Victor Bostan, CEO, Purcari Wineries
- Bogdan Ciobotaru, Board Member, Digi Communications
- Cristian Logofatu, CFO, Bittnet
- Florin Visa, Principal Equity Banker, European Bank for Reconstruction and Development
- Andreea Pipernea, CEO, NN Pensii
- Dragos Neacsu, CEO, Erste Asset Management
- Ioana Pop, Head of Frontier Markets / EMEA Equity Sales, Wood&Company
Moderator: Cristian Hostiuc, Editorial Manager, Ziarul Financiar
1.45 – 3.00 PM Lunch
3.00 – 4.30 PM Perspectives of institutional investors for economic development
Key note speaker: Malgorzata Rusewicz, President, National Association of Pension Funds in Poland
- Cristian Nacu, Senior Country Officer Romania, International Finance Corporation
- Matti Leppala, General Secretary and Director, Pensions Europe
- Radu Hanga, President, Romanian Fund Managers Association
- Alexandra Smedoiu, Vicepresident, CFA Society Romania
- Radu Craciun, President, Romanian Private Pensions Fund Association
- Liam Kennedy, Editor, Investment and Pensions Europe
- Koen Vleminckx, Director of Research, Belgian Federal Ministry of Social Security – FOD Sociale Zekerheid
- Ana Bobirca, Capital market Task Force Coordinator, Coalitia pentru Dezvoltarea Romaniei
- Lucian Anghel, Chairman, Bucharest Stock Exchange
Moderator: Nicolas J. Firzli, General Manager, World Pensions Council
4.30 – 5.30 PM Closing remarks and Q & A
- Andreea Rosca, Founding member, Romanian Business Leaders
- Cristian Hostiuc, Editorial Manager, Ziarul Financiar
- Nicolas J. Firzli, General Manager, World Pensions Council
5.30 – 7.30 PM Networking dinner
CEO, Bucharest Stock Exchange
Adrian Tanase, 43, is the CEO of Bucharest Stock Exchange as of January 2018. As a capital markets professional, Adrian has 20 years of experience gathered in portfolio management.
Prior to joining Bucharest Stock Exchange, Adrian was CIO at NN Pensions, the largest private pension fund in Romania, CEO and Equity Investment Officer at ING Asset Management Romania, Equity Investment Officer at ING Life Insurance Romania and at KD Investments.
Adrian is economist by formation, with a BA in Economic Cybernetics, Statistics and Informatics from the Academy of Economic Studies in Bucharest, and a CFA degree, being a member of CFA Society Romania.
Head of Frontier Markets / EMEA Equity Sales, Wood&Company
Ioana has over 14 years of experience working in Emerging Market Equities. She has held roles in sales, sales-trading and trading at Wood & Company and previously at ING Bank.
Over the past ten years, Ioana has been involved with the placement of an extensive number of deals – primary, secondary and private – that have taken place in the Central and Eastern European region. Ioana has vast experience working with some of the biggest investment funds dedicated to the CEE region.
In 2015 she was voted Number 1 CEE Individual by the Extel Survey. She holds a BA and MA from the Academy of Economies Studies in Bucharest and an EMBA from London Business School.
Director of Research, Belgian Federal Ministry of Social Security
Koen Vleminckx, is director research and publications at the Belgian Federal Ministry of Social Affairs and Vice-Editor of the Revue Belge de Sécurité Sociale.
He defended his PhD on comparative social policy at the Catholic University of Leuven, Belgium, where he lectures. He is a former director of the Luxembourg Income & Wealth Study Database (currently LIS Datacenter). He published on the subject of pensions and on the social investment paradigm. He currently participates in the Belgian Commission for “Pension Reform 2020-2040”.
Editorial Director of Investment & Pensions Europe (IPE) magazine
Liam Kennedy is the Editorial Director of Investment & Pensions Europe (IPE) magazine. He has 20 years’ experience as a financial journalist and editor, specialising in the field of institutional investment and pension funds. In that time he has met, interviewed and profiled countless senior executives at European and global pension funds, asset management companies and consultancies, as well as many other influential figures. He is also a regular speaker/moderator at industry events around the world. Prior to joining IPE in 2007, Liam spent nearly seven years at the Financial Times group in London, where he worked as a specialist editor and writer and launched four European pension and investment publications. He holds an MA (Hons) undergraduate degree from the University of Glasgow, UK, and is also deputy chairman of the advisory board of INSTICUBE GmbH, the pan-European pension investment research platform.
IPE is the leading European institutional investment publication, with a more than 20 year, award-winning track record of thoughtful and incisive reporting and analysis of institutional investor practice, asset classes, regulation and industry data. IPE was the CFA Society of the UK’s 2018 publication of the year and Willis Towers Watson’s 2018 pensions publication of the year.
Chairman, Bucharest Stock Exchange
Dr. Anghel majored in economics (Faculty of Economic Cybernetics, Statistics and Economic IT) at the Academy of Economic Studies in Bucharest. Following the completion of a Master’s degree in 1997, he received a Ph.D. from the same academic institution in 2002. Dr. Anghel also attended post graduate courses at Georgetown University, USA and an executive development program coordinated by HEC Montreal.
Working with the largest financial group in Romania for over 20 years, Dr Anghel is currently the President of the Executive Committee at BCR Banca pentru Locuinte. Until December 2015, he held the position of Chief Executive Office at BCR Pensii (pension fund subsidiary of Erste BCR Group – since October 2012). Previously he was Chief Economist of BCR, Head of Strategy and Research Division, coordinating the strategic programmes of BCR Group. Also, for almost two years, he held the position of Deputy Executive Manager of the Treasury Division of the bank. He was a member of the Supervisory Board of Erste Asset Management and BCR Asset Management for more than 5 years. In 2008, he co-founded the Association of the Financial Banking Analysts in Romania and serves in the board as the first Chairman. He was appointed as Foreign Investors Council key expert within the economic re-launch Programme: “Program for Economic Growth” and also served as external expert for the World Bank.
In January 2012, Dr. Anghel has been elected by the shareholders as Chaiman of the Board of Governors of Bucharest Stock Exchange. His 4 years mandate was renewed starting with January 2016. Also Dr. Anghel is currently the Chaiman of the Indices Commission, Chairman of the Nomination Committee and member of the Audit Committee.
Dr. Anghel is an associate professor at the National School of Administration and Political Science of Bucharest. He co-writes professional financial books and publishes in professional journals and magazines.
Marius Stefan is a serial entrepreneur, passionate about lifelong learning. After graduating from the MBA program of the Robert H. Smith School of Business at the University of Maryland, he returned to the country and developed several retail, advertising and service businesses.
The majority of his time, is dedicated to Autonom (www.autonom.ro). The company was started as a project in 2006 and had increased by 2 digits each year since its inception. At the moment, it is the most extensive mobility network in Romania, with 44 agencies in 33 cities and a fleet of over 4,000 cars.
The management system is based on values and autonomy. Autonom is a learning organization which encourages the continuous personal development of all our colleagues. As a result of these efforts, Autonom is the only romanian-owned company that has been awarded the Best Employer Award (Aon Hewitt) for four years in a row (2014, 2015, 2016 and 2017 respectively).
Secretary General/CEO, PensionsEurope
PensionsEurope is the leading voice for funded pensions in Europe representing 23 European national pension fund associations covering pensions of more than 110 million Europeans and more than € 4 trillion of assets.
Matti has been the Chair and Vice-Chair in 2013-2018 of the Occupational Pensions Stakeholder Group of EIOPA and is a member of the European Commission’s new High Level Group of Experts on Pensions.
Prior to joining PensionsEurope in 2011 Matti worked for 11 years for The Finnish Pension Alliance, which covers al Finnish pension institutions. In the 1990’s Matti worked for the Finnish trade unions in collective bargaining and many social policy issues. In 1986 he started his professional career at the Law Drafting Department of the Ministry of Justice in Finland.
Matti has a LLM and an Executive MBA in Insurance and Financial services.
Chairman of the Board of Directors at MedLife
Mihai Marcu is Chairman of the Board of Directors at MedLife and also Chief Executive Officer of the company listed on the Bucharest Stock Exchange.
Before MedLife he had held various senior positions in the Romanian banking sector, including Vice-Presidency of RoBank (before OTP Bank acquired it).
M. Nicolas J. Firzli
Director-General of the World Pensions Council (WPC)
M. Nicolas J. Firzli is Director-General of the World Pensions Council (WPC), the international association of pension and social security funds. He is a graduate of Canada’s McGill University (Statistics & Financial Economics), an alumnus of the HEC School of Management (MBA Corporate Strategy & Marketing) and the University of Paris Law School (LL.M. Corporate Law, summa cum laude) and has conducted research at the University of Louvain (UCL) Doctoral School of Economics and Management in Waals Brabant.
Mr. Firzli is Co-Chair of the World Pensions Forum (WPF) held annually in a G7 capital, coordinator of the quadrennial Asia+ Asset Owners Summit (AOS) organized in collaboration with the Government of the Hong Kong Special Administrative Region (SAR), and Cofounding Member & Advisory Councillor of the World Bank Group Global Infrastructure Facility (GIF).
Mr. Firzli is a regular contributor to various think-tanks and media outlets, including the United Nations Sustainable Development Solutions Network (UN SDSN), the French Society of Financial Analysts’ (SFAF) Revue Analyse Financière, the New York Society of Security Analysts (NYSSA/CFA New York), Dow Jones Financial News, the Reuters newswire, Euromoney magazine and Asharq-Al-Awsat, the newspaper of record in the MENA area. He has (co)authored key notions such as“The Pension Wealth of Nations”, “Modern Trusteeship and Fiduciary Capitalism”, “Country Risk and Territorial Attractiveness”, “Real Assets and the Quest for Yields”, “Infrastructure as an Asset Class”, “ESG Shifting the Trillions”, “Post-Globalization”, “The New Silk Road & the Eurasian Continuum” and “The SDG–Driven Firm of the Future”.
CEO, Banca Transilvania
Ömer Tetik, born in Hamburg and brought up in Izmir, decides to embrace an economics career when opting to study at the Middle East Technical University in Ankara, graduating Magna Cum Laude the Faculty of Economics. He starts his career at Ata Securities in Izmir, but one year later he heads on for Istanbul, taking a treasury position within Finansbank.
In 1997 he moves to Russia, as Manager of the Treasury and Capital Market Department at Finansbank Moscow. His stay in Moscow is a fruitful one as it grants him the possibility to reveal his deep understanding of the financial phenomenon and its implications on a boarder scale. In 2000, Finansbank decides to give him a new assignment – Romania – as Deputy Vice President. Romania turns out to be the country where he reaches career maturity within Credit Europe Bank ex Finansbank as Vice President and President in 2010.
2013 brings another change in his Romanian path as he takes on the CEO position at Banca Transilvania. His open and sociable way of being makes his transition much easier, along his modern and flexible management style, always in pursuit of the state of the art.
Ömer Tetik is fond of spending time with his family, percussion instruments, motorcycles and travelling.
Founder, FAN Courier
FAN Courier, the leader of the national courier market, was founded in 1998 by three Romanian entrepreneurs with 100% local equity. The company’s name is inspired by the initials of the three shareholders- Felix, Adrian and Neculai; in short, FAN.
Adrian Mihai was born on September 15th, 1970 in Fitionesti, Vrancea. He graduated from the National Academy of Physical Education and Sports in 2000 and since 2001, he joined the FAN Courier founding team. The A in FAN manages a team of more than 6,250 employees, working closely with the development of the company by coordinating the Sales, Marketing and PR teams. In the company’s 21 years of activity, the three entrepreneurs invested over 135 million euros in the business and built the strongest courier company in the country. FAN Courier remains the leader of the courier market for 13th consecutive years, with a daily average of more than 180,000 expeditions.
Vicepresident, CFA Society Romania
Alexandra is the Partner in charge with the corporate income tax practice of Deloitte Romania; she specializes in advising multinational companies and local entrepreneurs on local tax matters, as well as international tax structures. She holds a Bachelor’s Degree in International Business and Economics and a Master’s Degree in International Project Management.
Alexandra was involved in a variety of international tax structuring projects, business reorganizations, mergers & acquisitions, corporate income tax consultancy projects, due diligences, transfer pricing reviews etc. She is a regular speaker at business events, writer of specialty articles and expert opinions in local newspapers, as well as a trainer at numerous internal and external trainings on various tax topics. She was also extensively involved in advocacy matters related to tax legislation applicable to banks, investment funds and insurance companies.
Alexandra is a Chartered Financial Analyst© chart holder and a Vice-President of CFA Society Romania, a non-profit organization that reunites top professionals in the financial services industry. She is also a member of the Association of Chartered Certified Accountants (ACCA), a member of the Chartered Institute of Taxation (CIOT UK) and a member of the local Chamber of Tax Consultants.
Cofounder of the Romanian Business Leaders Foundation
Together with other three entrepreneurs, Andreea Roșca is the cofounder of the Romanian Business Leaders Foundation. She has two decades of experience as a business journalist and publisher. In the last ten years, she worked with entrepreneurs and studied the mindset behind some of the most successful Romanian companies.
She founded ”The Vast&The Curious”, a unique media project uncovering the strategies, decisions and principles of great Romanian entrepreneurs. Based on deep conversations, the experience is live and open to the audience.
Together with mona Dîrțu, Andreea co-authored ”Cei care schimbă jocul”, a book documenting the stories behind seven well-know entrepenerus and Romanian business pioneers.
Editorial Manager, Ziarul Financiar
Cristian Hostiuc has joined Ziarul Financiar’s team back in 2000 and he is one of the most important business journalists on the Romanian media market. As editorial director with Ziarul Financiar, Cristian Hostiuc has moderated hundreds of business conferences organized by ZF or Business Magazin. He is also one of the hosts of the ZF Live online business show.
Senior Country Officer Romania, International Finance Corporation
Romanian born and educated, with more than 20 years of experience in private equity, investment banking and privatization, Cristian Nacu is one of the most experienced and respected managers and investment professionals in the region.
For 10 years he has been Partner in Enterprise Investors, one of the largest and oldest private equity firms in Central and Eastern Europe and he managed EI’s Representative Office in Romania. In addition, for two years he has been also senior advisor of the President of the firm. Enterprise Investors has been one of the most active and successful private equity investors in CEE and Romania.
Previously, Cristian Nacu worked as investment professional for over 6 years for International Finance Corporation within the World Bank Group and for two years as top executive for Fondul Proprietatii de Stat, the former governmental privatization agency.
He also had a prestigious non-profit activity being board member or chairing many professional or non-profit organizations. He is Chairman of the board of Junior Achievement Romania, one of the world largest educational organization for entrepreneurial skills and has been for many years President of SEEPEA, the South Eastern European private equity association and board member of Nesst Foundation Romania, a supporter of social entrepreneurship.
Well recognized investment professional, he received numerous distinctions and awards.
Cristian Nacu holds a degree from the Polytechnics University in Bucharest and completed multiple trainings in finance.
Since March 1, 2018, Mr. Nacu runs the IFC offices in Romania and Moldova.
Bitdefender's CEO and founder
Florin Talpeș, Bitdefender’s CEO and founder, is a visionary entrepreneur who has worked in the IT security business for the past 20 years. Right after the “fall” of the soviet bloc in 1990, with his wife Mariuca, he created Softwin, one of the first ever Romanian private software companies and the mother company of Bitdefender. Founded in 2001, Bitdefender is a global security technology company, delivering solutions that protect over 500 million users in more than 150 countries, from private individuals to employees of the world’s largest corporations. As a founder of the National Association of Software Services Industry, Florin Talpeș has helped develop a major technology hub in Central and Eastern Europe by encouraging international expansion of technology start-ups.
President, Romanian Private Pensions Fund Association
Radu is the CEO of BCR Pensions, President of the Romanian Pensions Managers Association (APAPR), as well as Vicepresident of the Romanian Independent Directors Association (AAI). Until spring of 2016 he was the Chief Economist and Research Director of BCR, the largest Romanian bank, when he ended as well his mandate as President of the Romanian Financial Analysts Association. He has an experience of over 20 years in the domestic and international financial markets, areas in which he held executive and non-executive positions such as: Chief Investment Officer at Eureko Pensions, Board member of the Romanian Private Pensions Association, Head of Research in ABN AMRO Bank (Romania) and ABN AMRO Securities, Senior Consultant in Roland Berger Strategy Consultants.
Radu holds INSEAD’s Certificate in Corporate Governance and teaches as an Associate Professor for the MBA and EMBA programmes offered by ASEBUSS in Bucharest. During his career he has been a guest speaker in Bucharest for the visiting students of different European and US universities. Radu loves being involved in the financial education of people, no matter their age, and achieves this by participating as lecturer in financial education programmes, as well as by posting on his blog www.raducraciun.ro.
GENERAL MODERATOR, JOURNALIST DIGI24
Chief Economist, National Bank of Romania
Founder, City Grill
Business Growth professional
resident, Eurolines Romania Group
Executive Director, AmCham Romania
CEO, Purcari Wineries
Board Member, Digi Communications
Principal Equity Banker, European Bank for Reconstruction and Development
CEO, NN Pensii
CEO, Erste Asset Management
President, Romanian Fund Managers Association