Lucian Croitoru Could Join BSE Board On Friday

Ana SĂbiescu

Lucian Croitoru, an advisor to the Governor of the National Bank of Romania (BNR) could sit on the Board of Directors of the Bucharest Stock Exchange (BSE) following an invitation to run for such position by several Members, sources from the capital market told BURSA. The decision will be made at the end of this week.

Specifically, Lucian Croitoru could run for the seat left vacant after Petru Prunea, the former CEO of SSIF Broker, became incompatible with the status of Member of the BSE Board following the fraud cases reported within the brokerage firm. Prior to his current position, Croitoru served a four-year term as Romania"s representative with the International Monetary Fund in the capacity of Senior Adviser to the Executive Directors.

Octavian Molnar, representing the brokerage firm IFB Finwest - Arad, has also submitted his candidacy for a seat on the Bucharest Stock Exchange Board. He explained that, in his view, he was entitled to join the BSE Board as the brokerage firm run by him had been for six years among the top ten brokers on the Romanian market by the value of the transact­i­o­n­s­.­

Other interested parties can submit their candidacies also during the General Meeting of BSE Shareholders. The final decision will be made by the BSE shareholders during the Meeting of 29 May.

Approximately 1 month ago, the BSE shareholders convened to elect a new Member of the Board as Nicolae Rusu, CEO of Orizont Vest, was relieved of this office after the National Securities Commission had found a number of irregularities within the brokerage firm he was running. In early April, Rusu"s seat on the BSE Board was given to Liviu Giugiumica, the CEO of Unicredit CA-IB Securities.

The Board of Directors of the Bucharest Stock Exchange is chaired by Stere Farmache, who is also President of the BSE. The Board has two Vice Chairmen, Ovidiu Sergiu Pop (the President of the Central Depository) and Dan Paul (the President of the Brokers Association). Mircea Botta is the Secretary General of the Board. Dana Mirela Ionescu, Adrian Manaila and Rares Nilas are Members of the Board.