His personal financial disclosure statement that he filed when he took his secretary of state position shows Sporis to have bank deposits in the amount of EUR460,000 and investments on the Bucharest and Vienna Stock Exchange valued at about EUR545,000.
Having spent his entire career in the treasury department, Sporis, 35, used his knowledge to boost his personal investments. Other than very well known shares like Fondul Proprietatea (FP.RO) and OMV Petrom (SNP.RO), the former banker also invested in companies like Retezat SA (RETZ.RO), Sitex Dumbrava (SITS.RO) or Generalcom Bucuresti (GECM.RO).
His assets also include real estate (which he owns together with his wife): two houses in Sibiu (central Romania), an apartment in Bucharest and eight plots of land.
He did not reveal how much he made as head of Raiffeisen Bank’s treasury last year for confidentiality reasons. The information would have made quite an impact on the market, considering the myths about how much major bank treasurers are paid.
The market welcomed the decision of Finance Minister Bogdan Dragoi to appoint Cristian Sporis as secretary of state in charge of the Treasury. Those who commented said that the communication between this ministry and banks might greatly improve, but there might also be some setbacks considering Sporis knows very well how bankers react and what they do to get a good position when it comes to government paper auctions.
(English version by Loredana Fratila-Cristescu)