RAIFFESENBANK (BULGARIA) HOLDS UP PARTING WITH HALSTEAD
The Supervisory Board of Raiffeisenbank (Bulgaria) has not yet nominated a successor of David Halstead to replace him in the bank's Management Board and assume duties as executive director. Mr. Halstead was to leave Bulgaria by end-August when his 3-year mandate expires. However, the Chairman of the credit institution's Management Board Johan Jonah explained for the BANKER weekly that there is not yet a final decision as to when Mr. Halsted will be released of his duties and what position he will occupy in the structures of Raiffeisen Zentral Bank, which is the owner of Raiffeisenbank (Bulgaria).
Some bankers believe that Mr. Halstead will be replaced by Stefam Hadjiev, who was recently appointed procurator of the bank. Mr. Hadjiev graduated in 1983 from the Karl Marx Higher Institute of Economics (now University for National and World Economy) in Sofia. His career in the banking sector began in 1991, when he was appointed in the Bulgarian National Bank's Internal Control Department, where he worked for almost eight years. In 1999 he was employed at Raiffeisenbank (Bulgaria) as Head of its Internal Control Department.
Bozhidar Kunov is the other recently appointed procurator of Raiffeisenbank (Bulgaria), where he has been working since its establishment. He began as a junior dealer in 1994 and in 1997 he was promoted to head the bank's Investments and Liquidity Department. Mr. Kunov occupies this position till now. In 1995 he defended two master's degrees in the Technical University: one in business administration, more specifically financial management, and one in nuclear power engineering.