Head of Brokers' Association reelected in top position

Romania's Brokers' Association reinforced yesterday its current president Dan Paul as chief of the body; the former head of the Bucharest Stock Exchange, Septimiu Stoica, lost both the race and the seat in the board, The Money Channel reported.

Paul is at the helm of SSIF Finaco Securities and is the vice president of the board of the Bucharest Stock Exchange (BSE). He defeated two other competitors: Nicolae Ghergus, the head of the brokerage house Confident Invest and member of BSE board and Stoica.

The association's president will run the body for two years, helped by a board, whose members were also elected yesterday evening, The Money Channel said. Paul will remain a member of the BSE board. The current regulation of the capital market says that the head of the Brokers' Association is to be a member within the board of the stock exchange.