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Who is the best-paid fund manager in Romania?

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09.05.2011, 23:36 131

A fund manager was in 2010 the best-paid employee in Bucharest,with a net income of 145,000 lei/month, reveal statistics of thebiggest salary incomes in Bucharest recently released by ANAF(Romanian fiscal authorities). All clues point to Greg Konieczny,manager of Fondul Proprietatea (FP - Property Fund) and employee ofthe Bucharest branch of Franklin Templeton Investments Ltd.

In 2010, a fund manager for the first time joins the rankingof the best-paid employees in Bucharest, coming in straight atnumber 1. The local investment fund industry, with 1.3 billioneuros in assets, is 60 times smaller than the banking sector, with80 billion euros in assets at the end of last year. However, thenet monthly income of 145,000 lei and the annual income of 1.74million lei (408,000 euros) collected by the fund manager iscomparable to that collected by the member of a bank's managementboard, say sources from the asset management market. Last year nobankers featured among the the top ten biggest salaries.

"I think the fund manager in the ANAF statistics is GregKonieczny because I honestly doubt that a Romanian investment fundmanager could collect a monthly salary of 145,000 lei, consideringthe value of net assets that Romanian fund managers handle and theasset structure," said Dragoş Neacşu, president of investmentmanagement company Erste Asset Management, the biggest local mutualfund manager, with over 600 million euros in net assets.

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