VERNON | DAVID assists Banca Transilvania on labor law matters during the integration of Bancpost

The law firm VERNON | DAVID has advised and assisted Banca Transilvania SA (“BT”) on labor and employment law issues in relation to the integration of Bancpost SA (“Bancpost”) with BT.  The work was recently finalized.

Leading the law firm’s efforts was Daniela David, Founding Partner of the law firm as well as by Diana Neagu, Partner & Head of Vernon | David’s Employment & Labor Law Practice. 

“We were delighted and honored to be selected to assist Banca Transilvania with their integration of Bancpost.  With over 2,000 employees from Bancpost, the project was a complex and multifaceted task, but with the excellent leadership of the Banca Transilvania and the legal expertise of our team, we were thrilled to have helped in bringing the project to a successfully conclusion”, said Daniela David, Founding Partner, VERNON | DAVID.

This transaction was the largest of its kind in Romania and involved assisting Banca Transilvania in all aspects of the project, including planning and strategy, union negotiations as well as representation before labor and other authorities.  The law firm also assisted BT with several other projects, including the integration of the personnel of Volksbank Romania SA in 2015 (with over 1,000 employees). 

Banca Transilvania acquired Bancpost in Q4 2017, in what was then one of the largest M&A deals of the year.  At the beginning of 2018, Banca Transilvania began implementing and organizing the integration of the two banks’ personnel.  The process was successfully finalized in December 2018.  Banca Transilvania is currently the largest bank on the Romanian market.  

VERNON | DAVID is one of Romania’s leading employment and labor law practices. With a growing team of skilled lawyers, the firm prides itself on helping its clients become more proactive in employment law-related matters.  The law firm has previously assisted numerous other banks and some of Romania’s leading international investors.   The law firm has been ranked in the famous “The Legal 500” directory for its employment & labor law practice area, saying: “VERNON | DAVID’s team is noted for its ‘expertise and experience’ in the space. Labor litigation and collective bargaining agreements are core strengths. Practice head Diana Neagu is the key name.”