Țuca & Asociații participated in the Romanian Banking Forum
This year's meeting of the Romanian Banking Forum took place at the JW Marriott Grand Hotel with the main topic: What will Romania look like after 2007?
The event was organized by FinMedia, with a special contribution made by the National Bank of Romania, the Romanian Banking Association and the Romanian Banking Institute on November 3rd, 2005. During the Forum, Government representatives, bankers, important business leaders, financial consultants and lawyers examined the impact on the Romanian banking system of EU enlargement, with special focus on the monetary policy of the Central Bank and commercial banks, the electronic payment system and privatization within the banking sector.
Florentin Țuca, Managing Partner of Țuca & Asociații addressed the audience with a talk about privatization within the banking sector. He identified several similarities and differences in privatizations that took place in 2000 and 2005. According to Florentin Țuca, back in 2000, the banking sector was boosted by the successful privatization of several important banks, such as Banc Post, Banca Agricola and Banca Romana pentru Dezvoltare. Also, in 2005, two major privatizations are expected to be concluded – Banca Comerciala Romana, the largest Romanian bank, and CEC – the oldest Romanian bank. As far as BCR is concerned, "once the majority stake in BCR is finally sold to a foreign investor, the Authority for State Assets Recovery (AVAS) will conclude its mandate with what is likely to be Eastern Europe's "Privatization of the Year 2005" and, at any rate, the most resounding privatization deal ever concluded in Romania", pointed out Florentin Țuca.
Other key-note speakers were Mr. Mugur Isarescu, Governor of the National Bank of Romania, Mr. Daniel Daianu, economics professor and former Minister of Finance, Mr. Radu Gratian Ghetea, President of the Romanian Banking Association, Mr. Valentin Lazea, Chief-economist of the National Bank of Romania, Mr. Patrick Gelin, President of BRD – Groupe Societe Generale, Mr. Steven van Groningen, President of Raiffeisen Bank, Mr. Petre Tulin, President of HVB – Banca pentru Locuinte and many more.
Having practiced for over 14 years, Florentin Țuca is experienced in project finance, concessions and other forms of PPP/PFI projects, notably in the fields of infrastructure and energy. He has also handled, as co-ordinator, several privatization processes in the banking sector, such as the privatization of Banca Agricola, Banc Post, Banca Comerciala Romana, Casa Romana de Economii si Consemnatiuni (CEC) and has also assisted various international financial institutions, investment funds, financial investment companies, investment management companies, as well as insurance companies.