First resignation in the mandatory private pension field

Sursa: Standard.ro | Publicat: 17 dec 2007, 00:00

The Chairman of the OTP Fond de Pensii Board, Marius Florea, announced his resignation at the end of last week. This is the first resignation in the mandatory private pension field, the so-called second pillar of the pension system, launched on 17 September.

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Sources on the market say several companies in the field will undergo management changes in early 2008, as several players will be unable to reach the ambitious targets set at the start of the subscription campaign for mandatory private pensions. Before 17 September, the cumulated targets of companies in the field exceeded 200 percent. Four companies were targeting 30 percent of the market, while the remaining 13 were aiming for 10-20 percent of subcribers.

OTP Fond de Pensii is a local subsidiary of Hungarian lender OTP.

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