Stere Farmache Reelected Bucharest Bourse President

Farmache received 57% of the votes, while his main opponent, Bucharest bourse’s vice-president Dan Paul, obtained 21.64% of the votes.

Farmache said he wants to consolidate the Romanian capital market so that the Bucharest bourse will become more attractive to investors in the region.

„The Bucharest bourse must intensify efforts to convince the pension funds, insurance companies, investment funds and commercial banks to invest larger parts of their financial resources on the Romanian capital market,” Farmache said.

He lobbied for the floating of Romania’s investment fund Fondul Proprietatea, adding that the bourse should not ignore the private sector either.

Farmache was appointed Board president in December 2007. He was the bourse’s general manager between 1995 and December 2008.