A hot week for the stock market

The stock market will have a hot week, with appointments at the Financial Oversight Authority and possibly at the top of the Bucharest Stock Exchange.

Pole Ludwik Sobolewski, favored by the president of the BSE, Lucian Anghel, for the position of CEO of the exchange, would only accept the position as long as he has unanimity on the Board of the Exchange, some market sources claim.

However, some feel that this requirement simply cannot be met, given the fact that the complaints have escalated lately, and the Board is split down the middle.

The very short list for the position of CEO of the BSE is being drawn up by head-hunter Radu Furnică.

One stray nomination for the list would be Giulio Di Cerbo, who has worked as an advisor to the Central Depository.

Even though the management of the BSE is under pressure to designate its new CEO as quickly as possible, after firing Victor Cionga, in March, just six months into his term, the Board of the BSE has not yet been summoned, which could also mean that Ludwik Sobolewski has not yet made a decision.

According to the Polish press, Ludwik Sobolewski was fired from the position of CEO of the Warsaw Stock Exchange because he has involved it in raising funding for a movie which was going to feature his girlfriend, Anna Szarek.

The scandal, which led to his dismissal from the WSE, means that not all of the management of the BSE is siding with him, and even more, it would seem that he is not well perceived at the ASF either.

• The ASF "taking off"

While the appointment of a new CEO at the BSE this week is pretty unlikely, the changes in the management of the Financial Oversight Authority (ASF) are certain.

The candidates for the management of the ASF will be heard today in the Chamber of Deputies, after the Government decided to diminish the number of its management members from 17 to 12.

On Tuesday, at 11:00, in the reunited plenum, the new composition of the ASF will be put up for vote.

The Government has asked for the election of the members of the Authority to be done exclusively based on a professional expertise of at least 10 years in the areas of finance, lenders or non-banking financial institutions.

According to the PDL leader in the Senate, Cristian Rădulescu, at the meeting concerning the membership of the ASF, the USL "has told the parties in the opposition that they will receive no members in the Authority", as the management of the institution will consist of 6 members, supported by the PSD, 4 by the PNL and 1 by the UDMR.

It seems that Dorina Mihăilescu and Lorand Kralik, backed by the PSD, and the UDMR, respectively, are the most likely to keep their non-executive positions with the Authority.

There are also rumors in the stock market that Ovidiu Sergiu Pop, the head of brokerage firm Intervam, and Bogdan Chetreanu, former CNVM commissioner, could be among those being heard today.

The current executive management of the ASF comprises: Dan Radu Ruşanu, Daniel Dăianu, Mircea Ursache, Daniel Tudor and Ion Giurescu.

The 12 positions of the non-executive members were being held by: Dorina Mihăilescu, Gheorghe Marcu, Gavrilă Alexe, Gheorghe Albu, Lorand-Istvan Kralik, Marian Mîrzac, Marian Sârbu, Cornel Moldoveanu, Tudor Baltă, Doru Frunzulică, Nina Puiu and Gheorghe Cornel Coca Constantinescu.