Septimiu Stoica, the new BSE chairman

Septimiu Stoica, a lawyer by trade, and one of the two current vice-chairmen of the Bucharest Stock Exchange was elected for a five-year term as chairman of this institution, a market whose capitalisation stands at 22 billion euros now. The result came as a surprise for the representatives of the almost 60 brokerage firms represented at the General Meeting of the Bucharest Stock Exchange. Siminel Andrei, the former chairman of the RASDAQ Electronic Market and the chairman of Association of Brokerage Firms on the market was rated as the most

likely winner, and had actually won the first of the four rounds required for election of the chairman. The former BSE chairman, Sergiu Oprescu did not run. Andrei, who runs the largest investment fund on the Romanian market, Broadhurst, got approximately 23% of the votes in the first round – the most of all, while Dragos Neacsu, the fifth most likely winner got support from 18% of those who cast their votes.

The others to have run besides the above-mentioned three people, were Ovidiu Sergiu Pop and Viorel Pana. The elections, the first such event held after the transformation of the Bucharest Stock Exchange into a joint stock company were quieter than expected, despite brokers being split into several camps,

such as bank brokers, retail brokers, or brokers that are stockholders of the Exchange in Sibiu. ZF