Patrone is EBRD’s new Romania head

An Italian national who has been with the organisation for seven years, Patrone will seek to develop the country’s capital markets among other things.

Matteo Patrone has been appointed director for Romania at the European Bank for Reconstruction and Development (EBRD) in Romania.

Patrone, who commences the role on 1 July in Bucharest, takes over as head of the EBRD’s operations in the country from James Hyslop. Hyslop is moving to London as the firm’s new director for municipal and environmental infrastructure.

Patrone was previously EBRD director for Serbia, where the organisation has been accelerating its investment. Since he located there in 2012, the EBRD has plugged over €1 billion into the country, including more than €450 million in the last year alone.

A statement said that Patrone’s tasks in his new role would include developing capital markets, improving the quality of infrastructure, reducing regional disparities and enhancing the competitiveness of the private sector.

Patrone joined the EBRD in 2008, having previously been a managing director at Finint & Partners, an Italian private equity firm.

Last year, Romania was the sixth-largest recipient of capital from the EBRD, with almost €600 million invested in the country. Over the years, the EBRD has invested over €7 billion in Romania, with more than €14 billion mobilised from other financing sources.