Emerging Europe banking: How do you solve a problem like Moldova?

Moldova is troubled even by the standards of eastern Europe, but at the central bank Sergiu Cioclea, a former BNP Paribas corporate financier, is trying to bring order to his home country’s chaotic banking sector.

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Sergiu Cioclea, governor of the National Bank of Moldova

Taking over the central bank in a corruption-ridden, near-bankrupt former Soviet republic with a barely functioning banking sector would not rank high on most corporate financiers’ bucket lists. 

Sergiu Cioclea is the exception. Last year, the BNP Paribas veteran returned to his home city of Chisinau after more than two decades in Paris to head up the National Bank of Moldova (NBM). 

For a respectable banker, it was a brave decision.

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