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WorldDecember 2 2013

New broom seeks to boost Bucharest bourse

The ousted chief of Warsaw Stock Exchange, Ludwik Sobolewski, has come in from the cold in his new role as head of the rival Bucharest bourse and is already making his presence felt. 
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New broom seeks to boost Bucharest bourse

The start of 2013 is a period Ludwik Sobolewski would probably prefer to forget. The long-time chief executive of the Warsaw Stock Exchange was sacked amid allegations of a conflict of interest, ending roughly six years at the helm of one of the largest bourses in central and eastern Europe. Mr Sobolewski allegedly approached companies listed on the exchange to invest in a film starring an actress who was also his girlfriend, according to reports.

He says that he views the episode as a personal conflict between himself and the Polish government, adding that he tried to manage the conflict of interest and he did not hide anything. But in the depths of winter, the architect behind the rise of the Warsaw Stock Exchange found himself very firmly out in the cold.

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