ING Pensions Fund has lost its boss

Resignation. The general director of ING Pensions Fund, Radu Vasilescu, resigned yesterday from the helm of the largest player in the market of compulsory private pensions (Pillar II) and will establish a consulting firm.

"The reasons are the fatigue accumulated during the campaign for accession to Pillar II and the desire to enter the field of financial advice," he declared for the agency Mediafax. Under the leadership of Vasilescu, ING Pensions Fund attracted over 1.26 million customers, making it the largest manager of private pension funds (compulsory and optional) on the Romanian market.

The interims leadership at ING Pensions Fund will be provided by the financial director of ING Life Insurance, Emilia Bunea, and will take over the position formerly held by Vasilescu after the advice of the Surveillance Commission for the System of Private Pensions (CSSPP).

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