Zepter to join the local private pension market

 “The fact that a company which sells its products by direct sales wishes to enter the private pension market does not come as a surprise. I expected several companies engaging in the multi-level marketing system to show interest in this market, considering their wide network of sales agents,” Oancea added. Once the mandatory private pension market will be launched on 17 September, there will be 17 players, of which 10 have already been authorized as private pension fund administrators.

The list remains open since the authorization process is not yet finalized. Zepter International entered the Romanian market in 1993, promoting five wide product ranges: medical, home care, home art, cosmetics, and luxury.

The company is worth over €4 billion and produces everything from pans (in Italy) to surgical instruments and cosmetics (in Switzerland). The Zepter empire was founded in Austria, more than twenty years ago, by Serbian emigrant Milan Jankovic, who changed his name to Philip Zepter.

The success of Zepter Handels brought Jankovic the title of “Pot and Pan King”.

Philip Zepter is currently the richest businessman of Serbian origin, according to Polish economic magazine Wprost, which also lists him as the 16th richest Eastern Europeans. Zepter, who currently lives in Monaco, owns a phone operator and a shipyard in Serbia.

Philip Zepter owned two banks and an insurance company in Serbia and Bosnia. OTP Bank took over a 75.1 percent share package of Zepter Banka Belgrad, for which the company paid more than €30 million.

Volksbank finalized its acquisition of Zepter Komerk Bank in Bosnia, through a €42 million transaction. Zepter Osiguranje, the fourth-largest insurer in Serbia, was acquired by Uniqa Group Austria in 2006.

“I expected several companies engaging in the multi-level marketing system to show interest in this market, considering their wide network of sales agents Mircea Oancea President, CSSPP