Camera de Comert Elvetia - Romania / Chamber of Commerce Switzerland - Romania

Bitu will take over the new position starting January 2008 and will work in ING's head office of Amsterdam.

In Netherlands, Bitu is replacing Ad Kas, who was promoted as deputy chairman of Oyak Bank, the Turkish financial group acquired by ING.

At present, Bitu is an executive officer head of wholesale banking products with ING Bank Romania, a position she has held for 2 years, being in charge with all the banking products aimed at the bank's corporate clients. From the current position she coordinates five departments and a team of around 50 people.

"My appointment comes after a 12 years' career with ING and I consider it to be a recognition not only of my personal merits, but of the performances of ING Romania team and of our business model," Bitu told ZF.

She participated in all the major deals ING has been involved in over time, with the projects she worked on including the syndication of loans for RCS & RDS, Petrom privatisation, Flamingo and A&D Pharma IPOs.

She has worked with ING from the moment the bank arrived on the domestic market. Initially, she was a management trainee, then she set up the custody department and afterward worked in investment banking.

She also worked in London between 1999 and 2000 as part of the regional team that was in charge with investment banking operations.

Before joining ING, Mihaela Bitu earned an MBA degree, being among the first graduates of the Romanian-Canadian programme organised by Bucharest School of Management, one of the oldest MBAs on the market. She graduated from the Academy of Economic Studies in 1993, the Finance-Accounting department.