“Brokerage Fairwind Securities SA hereby thanks you for your collaboration. Unfortunately we have to let you know that the very poor economic performance of capital markets in the past few years has forced the company’s shareholders to withdraw the company from the trading activity,” the document reads.
Company representatives could not be reached for comment on Thursday.
Fairwind last year had a market share of 0.3% of equity transactions on the Bucharest stock exchange, from 0.95% in 2008, featuring in the lower half of brokers’ ranking.
In the past five years around 30 brokerages closed down or exited the stock exchange, including ING and UniCredit CA IB Securities in 2012.
Dinu Patriciu was for many years one of the ‘moguls’ of the bourse after he listed oil company Rompetrol Rafinare Petromidia (RRC.RO) in , 2004 which was for a long time the largest business held by a Romanian investor on the Bucharest bourse.
Dinu Patriciu entered the brokerage market in early 2008, when he bought Unicredit Securities, which he later renamed Fairwind.
The withdrawal of brokerage Fairwind Securities from the market marks Dinu Patriciu’s formal separation from the Bucharest bourse. The bourse had made him into one of the best-known investors in Romania almost overnight and helped him become the richest man in Romania in 2007 through the sale of the Rompetrol group.
(English version by Daniela Stoican)