Victor Cionga becomes CEO of the BSE

The administration board of the Bucharest Stock Exchange (BSE) has appointed investment banker Victor Cionga as general director of the BSE. The headhunter Radu Furnica, who is president of the executive search firm Leadership Development Solutions (LDS), handled the recruitment process that was started in March.

Dragos Neacsu, CEO of Erste Asset Management, commented on the appointment that it depends in what measure the things the CEO knows will be assumed by the other and if the assumed objectives will be carried out.

“The issue can be the identity of the vision, to what extend he was given freedom to come up with a set of projects,” said Neacsu.

Cionga began his career as investment banker in 1993 at Capital, an investment bank that was developed in a joint-venture system and had as shareholders EBRD, Wasserstein Perrella and two local commercial banks and continued in the Romanian American Enterprise Fund.

He was appointed Deputy CEO of Raiffeisen Capital and Investment (RCI) in 1998 and was later promoted as CEO of Raiffeisen Financial Advisors (RFAR), a position he held through to 2004. At that time, he returned at RCI as Deputy CEO for the next three years.

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In 2007, Cionga founded AZ Capital Advisors, an M&A advisory and became managing director of the company that has three senior consultants.

Cionga has been involved in multiple M&A deals and privatizations, both on the seller and buyer side, as well as in capital market transactions.

He participated in the M&A deals of Monopoly in1999 and 2005, Continental Hotels in 2007 and NetCity in 2011. Cionga was involved in the initial public offering of grid operator Transelectrica in 2006 and of the IT&C retailer Flamingo in 2005. He also participated in the privatizations of Sidex and Petrotub in 2002 and that of Siderurgica Hunedoara and Tepro Iasi in 2003.

The CEO managed the local team of the intermediary consortium that failed to sell a 9.84 stake owned by the state in OMV Petrom, in a secondary public offering carried out on the BSE.

Cionga graduated from the Faculty of Physics in 1980 and obtained an EMBA from the Washington University (US) and the Academy of Economic Sciences (ASE), which organized a joint EMBA Program. He got additional training on investment analysis and investment banking from Raiffeisen’s internal programs.

Ovidiu Posirca