BUCHAREST, …th of February, 2019: 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
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 EMPLOYMENT & LABOR LAW PRACTICE
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.”
We represent clients in all types of labor matters (including litigation, collective bargaining, management structuring and agreements, collective dismissals and assistance on mergers and acquisitions) and provide them with appropriate and measured counsel aimed at minimizing, if not eliminating, costly legal actions. We know from experience that employers can successfully implement many of their employment policies and systems, but only need accurate and up-to-date advice and counsel to have success. We provide that assistance.
ABOUT VERNON | DAVID:
VERNON | DAVID is a boutique international law firm, launched by Charles Vernon and Daniela David over 10 years ago. Charles is an American citizen, but he is been living in Romania since 1997. In 1997 he worked for Taylor Joynson Garrett in Bucharest before being hired by Ernst & Young in 2001 to manage their legal activities in Romania & Republic of Moldova. In 2008, he and Daniela formed VERNON | DAVID, which today has 5 partners: Charles Vernon, Daniela David, Maria Nica, Corina Tiganas and Diana Neagu, with over 30 associates and staff in both Bucharest and Chisinau. The company has assisted during those years some of the biggest investments in Romania, including advising TMK with its acquisition of Resita Steel (currently the largest steel producer in Romania), assisting Iulius Mall with the Palas Mall (one of the Romania’s largest retail centers) as well as representing Xannat (former Anglo-American group company and Romania’s largest aggregates mining company) with its management buy-out. In 2018, the law firm has entered an association with Cromwell Evan Global offering integrated legal & tax consultancy.