Банкеръ Weekly

Briefs

BRAIN DRAINING FROM DZI TO ALLIANZ

After Valery Alexiev (until recently DZI executive director), another valuable DZI expert switched to the Bulgarian - German insurance company Allianz Bulgaria. This is Sylvia Rangelova, DZI Director of Marketing and Business Network. According to her colleagues Ranguelova is among those experts who played a key role in the rehabilitation of the state owned life insurance company DZI, a recent loss-maker. According to some sources, after leaving DZI in the beginning of March, 2001, Valery Alexiev started an active campaign for attracting some of his talented former colleagues to the new company. Since April 2, 2001 the former executive director of the state owned life insurer took the position of Vice President for sales at Allianz Bulgaria Holding.
Besides the Director of DZI business network he tried to attract some of his colleagues in the country. According to some sources he his success was limited - some have followed him, but generally the invitation was declined. Vesselin Tonev, DZI JSCo. Chief Actuary and his deputy Iliana Shalaverova are among those who decided to stay. According to some sources the Bulgarian - German insurer has made a luring offer, but after serious hesitation they decided to decline it.
According to statistics DZI has long been donating well trained staff to various insurance companies. Yet the companies, which belong to Allianz Bulgaria Holding represent the most expressive example. Two of the three vice presidents of the holding held the highest positions at DZI - Maxim Sirakov and Valery Alexiev. Temenoujka Nenova, currently executive director of Allianz Bulgaria Insurance JSCo., also belongs to the list of DZI managers who have left the company. It is not yet clear what position was Sylvia Rangelova offered, but having in mind her professional achievements, it will for sure be a high standing one.
During the next week another similar case should find its development. Some ten days ago Ilda Pavlova, DZI deputy chief accountant, also left the company. According to some sources she was offered a position at Allianz Bulgaria and Vitosha Insurance. Within the next couple of days she has to make her decision.
One of the explanations why seasoned professionals are hurriedly switching to other companies is that the competition offers better remuneration. Besides, many of the DZI employees were concerned with eventual lay-offs after the privatisation, so they were trying to avoid the situation by moving to a new office.
The hottest staff news next week, however, are connected with Ivan Dragnevsky, recent Orel-G Holding vice president. On April 10, 2001 he was dismissed from all positions he held at the financial holding. According to some sources Allianz Bulgaria Holding has offered him a position as well. Both holding companies are keen competitors at the Bulgarian financial market.

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