New Bucharest Stock Exchange CEO will focus on liquidity

Bucharest Stock Exchange (BVB) will keep on developing the infrastructure and the environment to reach its maximum potential so that Romania is promoted to the Emerging Market status, Adrian Tanase said at his first press conference as CEO of BVB. “The main goal of my term is to make the stock exchange reach its maximum potential in terms of turnover,” Tanase said, as the market operator’s shareholders would like the value of transactions to double compared to last year’s level of EUR 10.5 million per day. He sees three directions to reach this objective: increasing the number of listed companies, making the market more accessible to local and foreign investors and developing the derivatives market and short-selling operations by creating a central counterparty clearing house (CCP). “Promoting to Emerging Market status will be a consequence of all these measures to increase turnover,” Tanase stated. He will continue the projects started by his predecessor Ludwik Sobolewski, namely developing the relationship with local entrepreneurs and financial education for the masses, but plans to come up with simpler messages. “It is important to increase financial literacy among population, and we need to simplify the message to retail investors. The population should be interested in the fact that the investment on the stock exchange may be as commonplace as a bank deposit if certain rules are respected, while also being aware that the money people accumulate from the day job can yield a higher return than a bank deposit,” said the BVB CEO. Adrian Tanase, 43, graduated in 1998 from the Faculty of Cybernetics of the Academy of Economic Studies in Bucharest. He has a professional experience of almost 20 years in the capital market, focusing on portfolio management. He was Chief Investment Officer at NN Pensii, the largest asset management company operating in Romania, until recently. New Bucharest Stock Exchange CEO gets regulator’s approval editor@romania-insider.com