“(The salary) is an open topic, one that we do not decide,” said Radu Furnica, head of Leadership Development Solutions.
The top position in BVB has been vacant since November last year, when the previous Managing Board ousted Valentin Ionescu 15 months into his appointment.
The company’s new board has appointed the firm run by Furnica, a head-hunting A-lister, to find a general manager who would develop the stock market, making it matter on the local and regional financial segments.
“The salary is negotiable,” said Dan Paul, board vice-president, adding Ionescu had a monthly salary of EUR5,000, while another BVB chief, Stere Farmache, took home EUR10,000 every month by the end of his mandate.
In terms of skills, Furnica’s firm is looking for someone with solid knowledge of the local and international stock markets, who has good command of the Romanian language. In addition, the new general manager needs to be a good communicator.
“I, personally, would very much want the new bourse head to be Romanian,” Furnica said.
In his opinion, the new general manager will have to go to companies all over the country and promote the stock exchange as an alternative means of financing. “I don’t see him (doing this) without speaking Romanian,” Furnica added.
A shortlist will be compiled within two and a half months, and it could include candidates who speak Romanian, as well as some who don’t. Later, there will be interviews. This stage of the process could take anywhere between a week and a month.
The list might also contain nominations by the BVB board.
BVB shareholders include Erste-affiliated investment funds with a total 5%, Fondul Proprietatea (FP.RO) manager Franklin Templeton with 5% and regional investment fund SIF Moldova (SIF2.RO) with a similar stake.