American Chamber of Commerce in Romania
15 Years in Romania
Honored with Business Superbrands Award 2007/2008
European Council of American Chambers of Commerce in Europe
Foreign Commercial Service of the U.S. Embassy
U.S. Chamber of Commerce
KPMG in Romania Appoints New Partners and Directors
10/03/2011 I Source KPMG Romania
KPMG announces the appointment of two new Partners and four new Directors with effect from 1 October 2011.
The new Partners are Madalina Racovitan as Tax Partner and Speranta Munteanu as Partner, Advisory, Transactions & Restructuring. The new Directors are Daniela Oprescu (Tax International Executive Services), Teodora Alecu (Tax, Transfer Pricing), Mihai Rada (Director, Management Consulting - Technology, Media and Telecommunications) and Cristian Itu (Director Management Consulting and Public Sector).
Madalina Racovitan – Partner, Tax
Madalina joined KPMG in 1999. She has developed KPMG’s International Executive Services (IES) practice over several years, developing a particularly strong expertise in personal taxation. Madalina has coordinated tax projects for a wide range of sectors, including oil, electronics, software, as well as food and beverages. She now also heads the firm’s People Services, which combines the work of IES, Payroll Outsourcing and Human Resources Advisory.
As Partner, Madalina will continue to develop KPMG’s services and anticipate clients’ needs. “I’m especially excited by the new coordinated People Services that we offer, because it brings together a wide range of KPMG specialists from Tax, Human Resources Advisory and Employment Law, who can work together to help clients with many different issues related to the management of their human resources,” Madalina says. In her spare time, Madalina enjoys travel and she aims to visit at least one new country or destination every year. She has visited 35 countries up to now.
Speranta Munteanu – Partner, Advisory, Transactions & Restructuring
Speranta continued her career progression by joining KPMG at the beginning of this year. During her career she has developed Insolvency and Restructuring as her main specialism, and she has also been actively involved in the development of the related professional bodies of valuators, insolvency practitioners and turnaround managers.
In recent years, Speranta been using her skills to help companies affected by the recession. She explains: “The aim is always to help the company to survive. Often we need to look closely at the management - is it making the right decisions? Does it have the right people? Is it structured in the right way?” As Partner, Speranta has ambitious plans: “KPMG will be seen as the leader in restructuring advisory on the Romanian market.”
In her spare time, Speranta enjoys travelling, especially to look at different styles of architecture, and her favourite city is Florence.
Daniela Oprescu – Director, Tax - International Executive Services
Daniela has been a key member of the International Executive Services team for several years. She has supported clients from a wide range of sectors and has an extensive understanding of tax and social security issues affecting expatriates in Romania, and Romanians who work outside the country. She is currently actively involved in the development of KPMG’s coordinated People Services line of business.
As Daniela says: “I am very much looking forward, to developing KPMG’s services within my new position. Personal tax, especially international tax advice, is a very interesting field, which gives me the chance to meet a lot of new and interesting people and to react to complex challenges.” Daniela likes to travel with family and friends. She is a very passionate reader, and has an impressive collection of scientific magazines.
Teodora Alecu - Director, Tax - Transfer Pricing
Teodora has developed KPMG in Romania’s Transfer Pricing team over the last five years, anticipating legislative change and the need for Romanian companies to have correct transfer pricing policies, together with the right documentation to justify them to the tax authorities. Teodora has established KPMG as the leading provider of Transfer Pricing services in Romania.
As Teodora says: “I have chosen to specialise in transfer pricing because I predicted the potential of this sector. Recently, I have developed a new consultancy service – Planning transfer pricing – which helps clients to develop a coordinated policy to fit their economic circumstances and also to comply with statutory laws and regulations.”
Teodora’s career has been marked by the figure “2” – she is proud of her 2 children, the 2 universities she has graduated from and her PhD diploma in Economics.
Mihai Rada – Director, Management Consulting - Technology, Media and Telecommunications
Mihai has developed KPMG's advisory practice for the telecom industry over several years and is KPMG Romania's country lead for advisory services provided to telecom clients. He joined KPMG in 2001 and quickly developed an interest for technology seeing it as a key growth area. One important period in Mihai's career was his secondment to KPMG UK in 2006. "The major benefit of my secondment to UK was the wealth of new knowledge and experience especially related to new technologies and western European companies’ culture".
As Mihai says: “My main objective is to further develop KPMG Romania's telecoms advisory practice by building new and innovative services to address the key challenges faced by telecom operators in Romania.”
In his spare time, Mihai prefers mountain - biking and hiking with his friends.
Cristian Itu – Director, Management Consulting and Public Sector
Cristian has had a significant contribution to the development of the IT Regulatory practice within KPMG, assisting Romanian companies in complying with statutory laws and regulations, placing KPMG in Romania in a strong position on the IT Assurance and Advisory market. Moreover, he plays an important role in developing KPMG’s professional services in the Public Sector, being focused on improving operational performance and technology as well as on project management services for public entities.
As Cristian says: “As a Director for Management Consulting and the Public Sector I will continue to expand and promote KPMG’s position as a trusted advisor both for private and public sector organizations, by providing high-quality professional IT and Business Performance services, thus maintaining KPMG’s role as a key player on the Romanian advisory market”.
He likes challenges even in the spare time and his hobbies include motor sports and mountain walks.
As Serban Toader, Senior Partner at KPMG in Romania says: “It’s a great pleasure to welcome these new Partners and Directors. All have shown real dedication to the company and to developing new lines of business which our clients need. They are excellent team players, with an entrepreneurial attitude and innovative thinking. I’m convinced that they will lead many more successful engagements in the future.”
About KPMG
KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 150 countries and have 138,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
KPMG in Romania and Moldova operates from six offices located in Bucharest, Cluj-Napoca, Constanta, Iasi, Timisoara and Chișinău. We currently employ more than 600 partners and staff; Romanians and Moldovans as well as expatriates.
The new Partners are Madalina Racovitan as Tax Partner and Speranta Munteanu as Partner, Advisory, Transactions & Restructuring. The new Directors are Daniela Oprescu (Tax International Executive Services), Teodora Alecu (Tax, Transfer Pricing), Mihai Rada (Director, Management Consulting - Technology, Media and Telecommunications) and Cristian Itu (Director Management Consulting and Public Sector).
Madalina Racovitan – Partner, Tax
Madalina joined KPMG in 1999. She has developed KPMG’s International Executive Services (IES) practice over several years, developing a particularly strong expertise in personal taxation. Madalina has coordinated tax projects for a wide range of sectors, including oil, electronics, software, as well as food and beverages. She now also heads the firm’s People Services, which combines the work of IES, Payroll Outsourcing and Human Resources Advisory.
As Partner, Madalina will continue to develop KPMG’s services and anticipate clients’ needs. “I’m especially excited by the new coordinated People Services that we offer, because it brings together a wide range of KPMG specialists from Tax, Human Resources Advisory and Employment Law, who can work together to help clients with many different issues related to the management of their human resources,” Madalina says. In her spare time, Madalina enjoys travel and she aims to visit at least one new country or destination every year. She has visited 35 countries up to now.
Speranta Munteanu – Partner, Advisory, Transactions & Restructuring
Speranta continued her career progression by joining KPMG at the beginning of this year. During her career she has developed Insolvency and Restructuring as her main specialism, and she has also been actively involved in the development of the related professional bodies of valuators, insolvency practitioners and turnaround managers.
In recent years, Speranta been using her skills to help companies affected by the recession. She explains: “The aim is always to help the company to survive. Often we need to look closely at the management - is it making the right decisions? Does it have the right people? Is it structured in the right way?” As Partner, Speranta has ambitious plans: “KPMG will be seen as the leader in restructuring advisory on the Romanian market.”
In her spare time, Speranta enjoys travelling, especially to look at different styles of architecture, and her favourite city is Florence.
Daniela Oprescu – Director, Tax - International Executive Services
Daniela has been a key member of the International Executive Services team for several years. She has supported clients from a wide range of sectors and has an extensive understanding of tax and social security issues affecting expatriates in Romania, and Romanians who work outside the country. She is currently actively involved in the development of KPMG’s coordinated People Services line of business.
As Daniela says: “I am very much looking forward, to developing KPMG’s services within my new position. Personal tax, especially international tax advice, is a very interesting field, which gives me the chance to meet a lot of new and interesting people and to react to complex challenges.” Daniela likes to travel with family and friends. She is a very passionate reader, and has an impressive collection of scientific magazines.
Teodora Alecu - Director, Tax - Transfer Pricing
Teodora has developed KPMG in Romania’s Transfer Pricing team over the last five years, anticipating legislative change and the need for Romanian companies to have correct transfer pricing policies, together with the right documentation to justify them to the tax authorities. Teodora has established KPMG as the leading provider of Transfer Pricing services in Romania.
As Teodora says: “I have chosen to specialise in transfer pricing because I predicted the potential of this sector. Recently, I have developed a new consultancy service – Planning transfer pricing – which helps clients to develop a coordinated policy to fit their economic circumstances and also to comply with statutory laws and regulations.”
Teodora’s career has been marked by the figure “2” – she is proud of her 2 children, the 2 universities she has graduated from and her PhD diploma in Economics.
Mihai Rada – Director, Management Consulting - Technology, Media and Telecommunications
Mihai has developed KPMG's advisory practice for the telecom industry over several years and is KPMG Romania's country lead for advisory services provided to telecom clients. He joined KPMG in 2001 and quickly developed an interest for technology seeing it as a key growth area. One important period in Mihai's career was his secondment to KPMG UK in 2006. "The major benefit of my secondment to UK was the wealth of new knowledge and experience especially related to new technologies and western European companies’ culture".
As Mihai says: “My main objective is to further develop KPMG Romania's telecoms advisory practice by building new and innovative services to address the key challenges faced by telecom operators in Romania.”
In his spare time, Mihai prefers mountain - biking and hiking with his friends.
Cristian Itu – Director, Management Consulting and Public Sector
Cristian has had a significant contribution to the development of the IT Regulatory practice within KPMG, assisting Romanian companies in complying with statutory laws and regulations, placing KPMG in Romania in a strong position on the IT Assurance and Advisory market. Moreover, he plays an important role in developing KPMG’s professional services in the Public Sector, being focused on improving operational performance and technology as well as on project management services for public entities.
As Cristian says: “As a Director for Management Consulting and the Public Sector I will continue to expand and promote KPMG’s position as a trusted advisor both for private and public sector organizations, by providing high-quality professional IT and Business Performance services, thus maintaining KPMG’s role as a key player on the Romanian advisory market”.
He likes challenges even in the spare time and his hobbies include motor sports and mountain walks.
As Serban Toader, Senior Partner at KPMG in Romania says: “It’s a great pleasure to welcome these new Partners and Directors. All have shown real dedication to the company and to developing new lines of business which our clients need. They are excellent team players, with an entrepreneurial attitude and innovative thinking. I’m convinced that they will lead many more successful engagements in the future.”
About KPMG
KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 150 countries and have 138,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
KPMG in Romania and Moldova operates from six offices located in Bucharest, Cluj-Napoca, Constanta, Iasi, Timisoara and Chișinău. We currently employ more than 600 partners and staff; Romanians and Moldovans as well as expatriates.
