Stere Farmache (photo), 52, took over the position of first executive vice-president at Alpha Bank Romania starting January 1. He is also a member of the bank's Board of Directors. "From the collaboration proposals I've received, I agreed to join a dynamic team of professionals. The main direct responsibilities with Alpha Bank will cover treasury, investment banking, the compliance department and the corporate banking sector," explained Stere Farmache. Until several weeks ago, he filled the positions of chairman and general manager of the Bucharest Stock Exchange. His decision to withdraw from the position of general manager of the BSE, which he had filled for 14 years, took the entire market by surprise. Farmache kept the position of BSE board chairman (which he has held since 2007), explaining his relinquishing the executive powers by the need to split management positions, with a view to floatation. "I have worked with Stere Farmache for six years at the BSE and I'm happy we'll work together again. I'm confident his expertise will bring a plus to a team already established on the market," specified Sergiu Oprescu, chief executive of Alpha Bank Romania. The bank is currently among the top ten players in the system, with a 4bn-euro loan volume in late September.
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