An in-depth look at Oleg Efrim of Efrim Rosca Asociatii, covering his career path, education, and top projects as a lawyer, as well as a few insights about him as a manager at work and as a person outside the office.
Career:
- Efrim, Rosca & Asociatii; Managing Partner; 2015-Present
- Government of the Republic of Moldova; Minister of Justice; 2011-2015
- Government of the Republic of Moldova; Deputy Minister of Justice; 2009-2011
- Avornic & Partners Law Firm; Partner; 2002-2008
- University of Chisinau; Professor of Civil Law; 1997-Present
Education:
- Moldova State University; LL.M. in Civil Law; 2000
- Moldova State University; LL.B; 1997
Favorites:
- Out-of-office activity: Long-distance running and vineyard-hopping (sometimes at the same pace). Balance.
- Quote: “Suum cuique tribuere”. Fairness
- Book: Thinking, Fast and Slow by Daniel Kahneman. Perspective.
- Movie: A Good Year. Serenity.
Top 5 Projects:
- Advising the Government of the Republic of Moldova on the privatization of MAIB in 2018;
- Advising the Government of the Republic of Moldova on the privatization of Moldindconbank in 2019;
- Advising Vienna Insurance Group in the acquisition of Moldasig from the Government of the Republic of Moldova in 2025;
- Advising Victoriabank/Banca Transilvania Group in a cross-border sale of an extensive portfolio of non-performing loans to an international investor, ensuring compliance with banking and data protection laws;
- Advising Bico Industries (Romania) – one of CEE’s top fiberglass mesh producers – on an M&A deal marking its entry into the Moldovan market and expanding its regional production network.
CEELM: What was the most challenging project you ever worked on and why?
Efrim: The sale of Moldasig to Vienna Insurance Group, after its temporary nationalization, was the most complex and time-critical project I have handled. It required aligning corporate, regulatory, and political interests under intense pressure, due to the legal restriction on the government’s temporary shareholding. The transaction included a pre-contract with the government and a subsequent SPA, both of which were contingent on suspensive conditions across different jurisdictions. It also introduced unusual competition procedures, such as notifying the concentration only after the shares had been transferred to the buyer, and an unprecedented derogation that permitted the majority shareholder to exercise certain rights before clearance – a first in the Moldovan market. Our team was the only legal advisor involved from the initial structuring through to the final stage, navigating a process that is still ongoing as the Competition Council continues to examine the concentration. It was more of an institutional milestone for Moldova’s financial sector than just a transaction.
CEELM: What was your main takeaway from it?
Efrim: Even in highly regulated sectors, deals succeed when all parties feel their voices are heard. Legal expertise can facilitate progress, but it is trust – the professionalism and dedication of the people involved – that sustains it. In transactions where politics, compliance, and reputation intersect, patience and clarity of purpose are more important than haste. Success isn’t just about ticking legal boxes; it hinges on the integrity and commitment of those making the deal come together.
CEELM: What is one thing clients likely don’t know about you?
Efrim: I started my legal career teaching Civil Law at 22 – long before my first M&A deal. That academic rigor shaped how I argue, draft, and mentor. And behind every technical clause, I still look for logic, not just legality. I also enjoy cooking pasta with a great sauce – it’s all about timing, much like closing a deal.
CEELM: Name one mentor who played a big role in your career and how they impacted you.
Efrim: Throughout my career, I’ve met many outstanding professionals who have made a lasting impact on how I think about and practice law. However, if I had to choose one, it would be my former Civil Law professor, Andrei Chiriac. He was the one who sparked my love for contracts and civil obligations – not just as legal tools, but as living frameworks of trust and balance between parties. His dedication to clarity and consistency in legal reasoning influenced both my teaching and practice. It was also he who invited me to join the university faculty, an experience that shaped my dual path as both a practitioner and an academic. His mentorship taught me that teaching law and practicing it are not separate careers – they are two sides of the same quest for understanding.
CEELM: What advice would you give yourself fresh out of law school?
Efrim: I would advise myself to focus solely on competing with my past self – striving each day to improve just a little. I should listen more than I speak, prioritize consistency over speed, and remember that, as in law, progress is gradual and steady, made inch by inch.
This article was originally published in Issue 12.9 of the CEE Legal Matters Magazine. If you would like to receive a hard copy of the magazine, you can subscribe here.
