HAMPARTSUMYAN IS AT THE MERCY OF MILANOVA
Financial circles are on the alert. The attention is focused at Levon Hampartsumyan as he may stumble on the way to his chairmanship in BULBANK's Management Board.
Mr Hampartsumyan is an engineer. He graduated from the Institute of Chemical Techologies in Sofia and in his pre-democratic career was a first grade senior research associate at the Central Institute of Computing Machinery. However, Art. 9, Item 1 of the Banking Act stipulates that certificates for managers of credit institutions may be granted only to persons who have a university degree in law or economics. This requirement impeded Bulgarian National Bank's former governor Lyubomir Philipov from getting a licence for a banker after he quitted the central bank, as he has a higher education in mathematics.
Mr Hampartsumyan has also been trained in many qualification courses, which opened his road to the auditing companies Earnst Young AFA, PriceWaterhouseCoopers and Cooper Lybrand. So he hoped he would not have any problems to get the certificate.
Such courses helped in October 1997 to EBRD's head Sally Worren, who was educated in Russian Philology, receive a license to be a member of UBB's Board of Directors.
Who knows? The new parliamentary majority might change by September 1, 2001 this provision in the act, which is inconvenient to many candidate-bankers, and Mr. Hampartsumyan may draw a winner.