BSE, Trinidad-Tobago investors'' new target

The National Securities Commission (CNVM) has authorised a new brokerage firm set up by foreign investors, which will broker transactions on the Bucharest Stock Exchange. The main shareholder of Central European Investments is a businessman from Trinidad-Tobago, a Latin American country, close to Venezuela. Its minority shareholders include an American, a Palestinian, as well as two Romanians. “We intend to expand our activity to managing our clients” portfolios and to providing treasury services to legal entities. We already have a department handling the money market in place, and within two weeks, we will be meeting all requirements to trade on the Stock Exchange,” says Ionut Nitu, president of the company. He owns 10% of the company”s shares, and says he convinced the majority shareholder to invest in Romania. Nitu worked at Capital Securities, a company taken over last year by the Greeks at Eurobank. Michael Abraham Hadeed, who owns 65% of the company”s shares, is, according to Ionut Nitu, a banking expert and a member of the management of the Eximbank in Trinidad-Tobago. ZF