The management  and administration of ISF are provided by a Board of Directors including at least 5 members, with a 4-year term, and the executive management and coordination of the current activity is the responsibility of the Executive Director and the Deputy Director.


Executive Director: Prof. Marian SIMINICĂ PhD professor at the University of Craiova, Faculty of Economics and Business Administration, teaches courses in Financial and Economic Analysis and Financial Diagnosis of the company and is a PhD supervisor in Accounting. He has a rich experience in university management, holding the position of Vice Dean of the Faculty (2008 - 2012), responsible for scientific research and quality assurance of education, as well as Dean, between 2012 - 2016. He was Vice President of the Board of the Association Romanian Faculties of Economics (2012-2016). He is a member of several professional associations in the economic field: ANEVAR expert assessor, being General Secretary of the association in the period 2016-2017; expert accountant, CECCAR member; fiscal consultant, CCFR member. Since 2014 he is Vice President of the Romanian Society of Economic - Financial Analysis (SRAEF). Since 2017 he is a member of the CNATDCU Commission "Economic Sciences and Business Administration", and since 2018 is a member of the Commission of permanent experts ARACIS, contributing to the external evaluation of numerous undergraduate and master's degree programs in economics. He has extensive experience in scientific research materialized in the publication of 7 books and university textbooks, over 60 articles in specialized journals, of which 12 articles in indexed journals Web of Science with AIS notnull, participation in national and international conferences, participation in scientific research contracts as a grant director or member of the research team. He is a reviewer for several Web of Science indexed journals and a member of the editorial board for several International Databases indexed journals. The main research directions are: financial performance and business risks; sectoral economic-financial analyzes; business behavior research models.


Deputy Director: Cătălin CÂMPEANU- Bachelor of Laws with a master's degree in Organizational Psychology and Human Resource Management and graduate of the public management program - Young Professional Scheme. He is a specialist in human resources, with over 20 years of experience in personal development and adult training, benefiting from the experience gained at EIPA European Institute of Public Administration, he has held various management positions in the field, including Director of Development of National Institute of Administration, being in the ISF team for more than four years.


Board of Directors

The meeting of the ASF Council on 02.09.2020 established the new Board of Directors of the Institute of Financial Studies, which includes as follows:

President: Valentin Ionescu General Director of the General Insurance Directorate within Financial Supervisory Authority. He has been active for 18 years in various private companies in the country and abroad, in the field of investments in the capital market. In the Financial Supervisory Authority he held the position of Director of the Strategy and Financial Stability Directorate. He also held the position of Director of the Integrated Supervision Directorate (2013 - 2014) and Director of the Insurance Regulatory Authorization Directorate (2017-2019). The professional activity also includes positions such as General Manager of the Bucharest Stock Exchange, Member of the Board of Directors at Sibex, SIF Moldova (2012 - 2013) and Chairman of the Board of Directors of the Central Depository, but also international experience - Euro Invest Bank Gmbh Austria (Head of Sales, 2009 - 2010) and Wood & Co Czech Republic (Senior Sales Trader, 2007-2009). Mr. Valentin Ionescu graduated from the Academy of Economic Studies, Faculty of Commerce, has an MBA from CNAM Paris, a Master in Business Development from Bucharest University of Economic Studies and a Diploma in Finance from George Town University US. He is an active member of various ESMA and EIOPA committees. Participates as guest to CNSM meetings. He graduated from the Aspen Institute, and attended the Financial Sector Surveillance and External Vulnerabilities and Early Warning Exercise courses at the Joint Vienna Institute. He has published articles and opinions in various publications in the country and abroad and has been interviewed by Bloomberg on several occasions.

VicePresident: Ovidiu Petru is an economist with over 14 years’ experience in the field of capital market, successively occupying positions such as broker, marketing director and general manager of the Sibiu Stock Exchange (Sibex-Sibiu Stock Exchange SA). His professional activity also includes positions such as Chairman of the Board of Directors and Member of the Board of the State Company “Romanian Lottery” S.A, He currently works at the Financial Supervisory Authority holding the position of General Director of the Financial Instruments and Investments General Directorate. Previously, he also held the position of management expert at the President`s Office within the Financial Supervision Authority. Mr. Ovidiu Petru graduated from “Lucian Blaga” University, Faculty of Economic Studies and he has a Master in Company Management and Marketing Strategies and Policies.

Member: Vasile Neagu - graduated in Law, graduated a Master in European Commercial Law and obtained the title of Doctor of Law in 2015 at Titu Maiorescu University in Bucharest. He has published several specialized articles and is co-author of the monograph "Protection of Workers' Rights in International and European Law", published in 2016 at Hamangiu Publishing House. He has extensive experience in areas such as financial-non-bank management, financial services, insurance, debt collection and marketing. At the same time, Mr. Neagu was General Director and founding member of a Financial Institution, as well as Vice President of the IFN Credit Board. He organized and had substantial interventions at multiple conferences with international participation in issues related to consumer protection, alternative dispute resolution, the financial-non-banking sector. Currently, Mr. Neagu Vasile is an Advisor to the First Vice-President of the Financial Supervisory Authority and has specific attributions to the position held.

Member: Paul Nica - graduated from the Academy of Economic Studies, Faculty of International Economic Relations, holds a master's degree in Capital Markets, being enrolled in the CFA Institute program and in the MBA at CNAM Paris. He is an alumni of the Joint Vienna Institute training center. He worked both within the National Securities Commission and within the Financial Supervision Authority, being responsible for regulating the field of investment funds, with involvement also in the development of the EDUFIN financial education platform. He has been a member of several international working groups in the field of investment fund regulation, since 2013, like Investment Management Standing Committee (ESMA) and C5 - Investment Management (IOSCO). He worked as a national expert in the field of regulation of investment funds during Romania's presidency of the Council of the European Union (first semester 2019). He currently holds the position of Director in the SIIF Cabinet.

Member: Paul BARANGA - Bachelor of Economics and Law, holds a PhD in Finance in 2020. Has extensive experience in financial services and instruments over the last 17 years, both in the private sector and within the Financial Supervisory Authority, where he held various positions such as: regulated markets specialist, head of service, deputy director or director. He participated in the professional training of specialists in the field of the Romanian capital market as an authorized lecturer at various professional training bodies. He currently works within the Financial Supervision Authority, holding the position of management expert.

Member: Dragoş Haşegan - currently holds the position of Chief Regulatory Service, Private Pensions Sector within the Financial Supervisory Authority, being responsible for the development of the regulatory framework. Since he came to the Authority, he has held various positions and responsibilities in areas such as prudential supervision, risk assessment, regulation and authorization, the main area of ​​expertise being investment management. Prior to joining the Authority's team, he accumulated significant experience in mergers and acquisitions, business consulting and strategic management, as a consultant at an international company. Mr. Dragoș Hașegan graduated from the Academy of Economic Studies, the Faculty of Finance, Insurance, Banks and Stock Exchange, and holds a Master's degree in Finance and International Business from the Aarhus School of Business, Denmark and an EMBA from Vienna University of Economics and Business, Austria.

Member: Alexandru Ciuncan - has more than 15 years experience in the field of insurance and private pensions in Central and Eastern Europe, with expertise especially in the area of ​​market conduct, regulation, consumer protection, media and financial journalism. Starting with September 2018, Alexandru holds the position of General Director of UNSAR - the National Union of Insurance and Reinsurance Companies in Romania. Between 2013 and 2018, Alexandru was a member of IRSG and OPSG, the two groups of Stakeholders within EIOPA - the European Supervisory Authority for Occupational Insurance and Pensions, participating in the elaboration and debate of legislative acts with a long-term impact on the insurance industries and private pensions. At the same time, he had the positions of Secretary General of APPA - the Association for the Promotion of Insurance - the NGO that developed the first national campaigns for consumer information and education - and the Managing Partner of XPRIMM, a Romanian media company specialized in the insurance industry within CEEC and SEE. Alexandru CIUNCAN attended the courses of the Management Faculty of the Academy of Economic Studies of Bucharest, holds a Professional Certificate in Management (OPEN University Business School, UK) and is licensed PMP-Project Management Professional and ACP-Agile Certified Professional (Project Management Institute, USA). ).

Scientific Council

The structure of the ISF also includes a Scientific Council, with an advisory role, which aims to ensure a high quality level of training programs and ISF actions by analyzing, debating and endorsing ISF programs, facilitating access to the best practices, as well as counseling on partnerships and collaborations.

President: Academician Lucian Albu, economist, member of the Romanian Academy and director of the Institute of Economic Forecasting, PhD supervisor at the Romanian Academy and founder of the Romanian Journal of Economic Forecasting (since 2007 the first ISI journal for the Romanian economy). In 2000 he was the Minister of Labor and Social Protection in the Isărescu Government, and in the period 2010-2019 he was a member of the first Fiscal Council in Romania. Abroad, his teaching and research career began after 1989, through projects obtained through competition from the European Union and other international bodies (World Bank, UN, USAID, Belgian Fund for Scientific Research, Flemish Research Fund, British Academy, CINADCO, GDN etc.), as well as in the foreign exchanges of the Romanian Academy. He has benefited from two long-term research internships won through EU projects, at the Sorbonne, CEPREMAP, 1995 (Felow Researcher), and at the University of Leicester, CEES, 1997-1998 (Honorary Visiting Professor) and collaborated with prestigious professors and Western researchers (including Nobel laureates in economics), participating in more than 150 international conferences (including as a special guest) and more than 80 scholarships, grants and research internships (of which more than 30 in inter-academic exchanges), at prestigious institutes and universities abroad (most EU countries, but also in China, Switzerland, Iceland, Israel, Russia, USA, Taiwan and Turkey). Specialist in several economic fields (economic modeling and forecasting, macroeconomics, economic growth and convergence, informal economy and tax evasion), he has published as an author, alone or in collaboration, over 50 books and over 300 articles and studies, published in the journal from the country and from abroad. The number of publications and citations places the first bibliographic bases for the economic field (Scopus, Web of Science, IDES-RePEc, Google Academic, WorldCat, etc.) on the first places in Romania. He is a member of many professional, national and international organizations, companies or associations, such as the National Statistical Council, INS (2002), ARCOR - Romanian Association for the Club of Rome (2005), EcoMod - Global Economic Modeling Network, Brussels ( 2006), National Expert, EGGE, European Union (2010), Advisory Board of the Academy of Economic Studies (2010), Doctoral School Council - Finance, ASE (2010), Doctoral School Council - Cybernetics and Economic Statistics, ASE (2010), Board of Directors of CNR-CME (Romanian National Committee - World Energy Council), member of the Romanian Academy (2014), Academia Europaea (The Academy of Europe) (2016), GLO - Global Labor Organization, Berlin (2018), EBES - Eurasia Business and Economics Society (2018), etc.


Member: Prof. Dr. Valeriu IOAN-FRANC, economist, doctor of economics, founding member and deputy general director of the National Institute for Economic Research "Costin C. Kiritescu" (INCE); director of the Center for Economic Information and Documentation (CIDE); editor-in-chief of INCE publications; corresponding member of the Romanian Academy; member of the Royal Spanish Academy of Economic and Financial Sciences (RACEF), Barcelona; member of the Barcelona Economic Network; member of the European Academy of Business Administration and Management of Small and Medium Enterprises, Madrid; PhD supervisor at the Romanian Academy; university professor specializing in Economics of Culture and Marketing, doctor honoris causa of several universities in the country and abroad; training internships at Ringier AG Switzerland (founder of Capital Magazine); EUROSTAT Luxembourg, STATEC Luxembourg, Ministry of Culture Luxembourg; French Center for International Trade Paris; Mamma Concert und Lippmann + Rau Munchen (Marketing and Management of Cultural Events); Dnepropetrovsk Independent University Ukraine; Russian Academy of Sciences; RACEF Spain; Royal Academy of Physicians, Barcelona; Istanbul World Congress of Economists and others; founder and animator of the Romanian Center for Studies and Documentation Romania-Luxembourg in Bucharest; founder and animator of the Expert Publishing House of INCE; editorial coordinator for important collections of economic literature, respectively Nobel Laureates in Economics, Economics of Romania 20th Century; Comparative economics and consensus; Complete works Nicholas Georgescu-Roegen; Mandatory restitutions - the works of the great Romanian economists; harmonization of the notional world economic language with the national economic language and others. Founder and animator of numerous economic journals indexed in international and national databases - Romanian Journal of Economic Forecasting; Romanian Economic Review; Review of General Management; Life quality; Journal of Community Positive Practices et al. Manager of several projects with European funding, dedicated to cultural management, carried out at the Romanian Academy and at institutes within the INCE structure. Author and co-author of 45 books, author and co-author of over 300 articles, studies, communications at national and international scientific events. Honored with national and international state distinctions, respectively: Knight of the National Order "Faithful Service" of Romania, Commander of the National Order "Cultural Merit - Scientific Research", Officer of the Order of Merit of the Grand Duchy of Luxembourg. Laureate of the Romanian Academy Awards „P.S. Aurelian ”and“ Victor Slăvescu ”, the Diploma of Academic Merit and the Cultural Diploma of the Romanian Academy, the Academic Merit of the European Academy of Management and Business Economics (AEDEM). (October 2020)


Member: University Lector Meral Kagici PhD, economist, doctor in Finance, began her university career in 2005, with the graduation of the Faculty of Finance, Insurance, Banking and Stock Exchanges, Specialization Finance and Financial Markets, from the Bucharest Academy of Economic Studies(ASE). She has supported teaching activities in disciplines such as Public Finance, Financial Management of the Enterprise (in Romanian and English), Financial Markets, Portfolio Management, Financial Investments, Direct Investments and their Financing, General Finance (in Romanian and English), as well as Projects Economics and Specialty Practice. In 2007 she graduated the Master's Program in European Public Governance from the Faculty of Finance, Insurance, Banking and Stock Exchanges, ASE, and in 2008 she graduated the Master's Degree in English Language Education and Research Communication for Business and Economics, Faculty of International Economic Relations. (ASE) and obtained a bachelor's degree from the Faculty of Political Science, Specialization in Political Science, from the National School of Political and Administrative Studies (SNSPA). In 2010 she obtained the title of PhD in Finance, at the Bucharest Academy of Economic Studies, and in 2013 she graduated postdoctoral studies at the Romanian Academy. She was a consultant for the World Bank and worked with various organizations, and between February 2013 and July 2017 she was a research economist at the Embassy of the Kingdom of Saudi Arabia in Bucharest. She is the co-author of the volume Evaluation and financing of direct investments: collection of feasibility studies, ASE Publishing House (2009) (author Victor Dragotă), author and co-author of numerous scientific articles. She has also been a member of various research projects and is a reviewer for various scientific journals and conferences. She is secretary of the Romanian Association of Finance-Banks (RoFIBA) and editorial assistant of the Review of Finance and Banking, and since September 2019 she is a member of the Scientific Council of the Institute of Financial Studies.


Member: Conf. univ dr. Adrian T. Mitroi PhD, CFA, MBA, director of the Master's Program in Applied Finance MAF and teaches Behavioral and Aspirational Finance, Investments and Portfolio Management at the Bucharest Academy of Economic Studies. He first received the CFA title in Romania in 2000 and then was Grader and Standard Setter for the CFA program for 13 years. He is the founding president of CFA Romania and the initiator of the economic and monetary confidence index of CFA Romania. He coordinated the accreditation of the Master in Financial Management and Investments as the first Romanian program but also in Central and Eastern Europe recognized in the University Affiliation Program of the CFA Institute. His academic experience intertwined with the financial career, where he worked in investment and commercial banking. He has written numerous articles and two books on Behavioral Finance, Personal Wealth Management and Individual Investment Portfolio Management. The research topics are about the Financial Personality of the Investor, the Analysis of the human factor in the investment decision, The finances of the modern couple.


Member: Conf. univ. dr. Silviu Mirel PIȚURU, coordinator of the discipline "Professional organization and medical legislation - MALPRAXIS", within the University of Medicine and Pharmacy "Carol Davila", at the Faculty of Dentistry. Also, within the same university, he holds the position of Vice-Rector for student issues. Since 2019, he holds the position of President of the College of Dentists in Bucharest. He graduated from the Faculty of Medicine, after which he attended the courses of the Faculty of Dentistry in Bucharest, later obtaining the scientific title of Doctor of Dentistry. At the same time, he followed the master's program "Management of social and health services" within the Faculty of Sociology of the University of Bucharest. In the past, he held the position of General Manager, consultant, expert in various companies / projects, with a national and international coverage area. He also held the position of university education advisor at the Ministry of National Education.


Member: Prof. univ. dr. Mihaela ONOFREI, Vice-rector of the “Alexandru Ioan Cuza” University of Iași, Professor at the Faculty of Economics and Business Administration (FEAA) and PhD supervisor in the field of Finance. He has published 26 books (of which 7 as sole author), 118 articles and studies published in specialized journals (of which 26 scientific articles published in full in web journals of science with impact factor), 120 scientific papers domestic and international conferences, 29 research projects / European funds / Institutional Development Fund (of which 6 as project manager). He has contributed to the establishment of numerous study programs in finance and public administration at the level of the Faculty of Economics and Business Administration. His area of ​​expertise is Corporate Governance, Financial Management and Public Administration. He was a member of the National Commission for substantiating the National Plan for the adoption of the euro (National Commission), established by OUG no. 24/2018. He is a member of the National Council for Financing Higher Education, according to Order no. 3915/7 June 2018 amending the Order of the Minister of Education and Scientific Research no. 423/2015, published in the Official Gazette no. 514 / 22.06.2018. He is a member of the National Council for Attestation of University Degrees, Diplomas and Certificates (CNATDCU), Sociology, Political and Administrative Sciences Commission, administrative sciences expert, period 2011-2012, according to the Order of the Minister of Education and Research no. 4089 / 20.04.2011, respectively 2016-2020 according to OMENCS no.4106 / 2016. He is currently Vice President of the Commission on Sociology, Political and Administrative Sciences (term 2020-2024), During 2012-2016 he was Director of the Department of Finance, Currency and Public Administration  within the FEAA, and in the period 2017-2019 he held the position of Credit Officer (Legal Representative) of the “Alexandru Ioan Cuza” University of Iași.


Member: Conf. univ dr. Răzvan-Mihail PAPUC, professor at the University of Bucharest and Dean of the Faculty of Administration and Business. His scientific interests cover the following topics: public economy, public finance, fiscal policy and higher education funding. Răzvan Papuc coordinated and was a member of the teams of several research and institutional development projects. He is a member of the National Council for the Financing of Higher Education and of the Monitoring Committee of the Operational Program Administrative Capacity.


Member: Prof. univ. dr. Petru ȘTEFEA, university professor at the Faculty of Economics and Business Administration within the West University of Timișoara and teaches courses in the following disciplines: Economic-financial analysis, Analysis of financial performance and corporate governance, Financing and investment efficiency. He is a PhD supervisor in Accounting. He has a rich experience in university management as a result of the positions held within the West University of Timișoara, so he held the position of Vice Dean of the Faculty of Economics and Business Administration (2004-2008), the position of Vice-Rector of UVT (2008-2016) , and currently, starting with 2016, he is Dean of the Faculty of Economics and Business Administration. Coordinates consulting firm I.S.E. Performer Consult SRL, holding the position of senior consultant, partner and administrator. He is a member of the Board of Directors of AQUATIM S.A., a regional water and sewerage operator in Timiș County.


Member: Prof. univ. Dr. h.c. Gheorghe ZAMAN, doctor in economics, corresponding member of the Romanian Academy, university professor, director of the Institute of National Economy of the Romanian Academy, doctoral supervisor and director of the Department of Social and Legal Economic Sciences within the Doctoral School of the Romanian Academy, president of General Association of Romanian Economists and representative in the Council of the International Economic Association. Scientific research activity - 55 years of economic research, of which 20 years dedicated to research and development and the innovative economy, especially in the field of: economic efficiency of technological change and innovation; the reform of the innovation system in Romania in the conditions of the transition to the market economy; the impact of globalization The integration of the EU and the knowledge-based society on multi, inter, trans and intradisciplinarity in economics and research. Coordinator and participant of ACE PHARE and other international research projects on research and development and innovation; author and co-author of several works, studies, articles and books on innovation topics: “Restructuring Romania's Education System Considering the Evolutions from Domestic Market perspective and impact on RDI Progress”, 2008, European Institute of Romania, Strategy and Policy Studies, 313 p., Participation in the elaboration of the Romanian Research-Development Strategy 2007-2013 and 2014-2020 and the National sustainable development strategy 2030, Participation in national and international congresses and conferences including the Congresses of the International Economic Association, member of the International Academic Scientific Committee of China - EEC Institute. Awards: awards and diplomas of excellence, Doctor Honoris Causa of several universities in Romania and of the Romanian Academy.