US-based NCH has appointed Emil Bituleanu as the new head of Libra Bank. Bituleanu had previously held the position of deputy chairman at the bank, since 2003. Bituleanu was appointed as chairman of the bank's managing board on July 19. He had temporarily run the bank since last autumn, after the departure of the former chairman, the German Axel Hummel. Bituleanu's appointment will "secure the further implementation of the strategy Libra Bank has set for itself", stated the bank's officials. In recent years, Libra, a small player, has focused on the niche area of financing freelancers and small companies. The bank is owned by a series of domestic companies controlled by the US-based New Century Holdings (NCH) investment group. The group holds investments worth $300m on the domestic market. Bituleanu has held management positions in the banking system in the past 12 years, at Bancorex, BNP-Dresdner Bank and the former Finansbank (the current Credit Europe).
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