After 1990, Romania has intended to conduct reform but had no people to conduct it with. The running of the affairs of the country has fallen upon the representatives of the "old guard", which is verified by the fact that we are still talking about reform today.
Inexistent in the early '90s for good reasons, the class of young Romanian professionals that have "breathed" the air of the famous business schools of the West or of the international financial groups is starting to become more and more solid.
Even though the bulk of this class is still living abroad, the first signals that those who went to study abroad several years ago and are now employed by companies or banks like JP Morgan, Lehman Brothers, Bank of America, Citigroup, HVB Bank, ABN Amro, Morgan Stanley, Rotschild, Linklaters, Shell or EBRD are thinking of coming back home, have already been sent out.
Moreover, part of these professionals, settled in Europe's financial City - London, have already taken action and are trying to help improve the Romanian business environment and its image before investors in an organised fashion.
The organisation they established in this regard is called Romanian Business Club, is registered in London and comprises 50 members, professionals living in England mainly and trained by the best Western business schools who are now working for famous banks, investment companies, law firms or consultancies in the City of London. Some of them have even started their own business.
Established by a handful of people in 2001, the club has quickly made a name for itself among the Romanians in London and came to total 26 members in 2002 and 50 in 2003. The club members are about 30 years old on the average and most of them are bankers, lawyers, consultants and architects.
The increase in the number of club members brought along an increase in the number of initiatives of the club. It is about the promotion of Romanian business opportunities in London by organising conferences and seminars, meetings with the representatives of the Romanian Embassy in London or even Government members (Foreign minister Mircea Geoana and Prime Minister Adrian Nastase) and the creation of a trust fund (Romanian Education Trust) to finance the Romanians studying at the major universities of the West. The members of the club have already contributed to the beginning and completion of financial or legal projects related to Romania, such as the new capital market legislation or the international bond issues of the Romanian State.
"The establishment of the club occurred amid various circumstances. The idea was generated by the feeling that "we can do it, too", against the precedence of similar clubs (the Polish, Bulgarian or Czech ones). Furthermore there was a critical mass of 10 or 15 Romanians that believed and fought hard to make this real," says Mihnea Vasilache, one of the founders of the Romanian Business Club, who graduated from Harvard and is now vice-president of Bank of America, one of the leading American banks.
The similar business clubs established by Bulgarians, Czechs or Poles settled in London after the break-up of the Communist Bloc have had a considerable positive influence on the economic reform in the Czech Republic, Bulgaria or Poland.
Most of the members of these clubs returned to work for the State administrative systems of their countries of origin or to work for multinationals that began operating there. In Bulgaria's case, some of the club members are now part of the current Government.
laurentiu.ispir@zf.ro
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