“Good change” touched on a Securities Exchange. At least on this count, economists and individual investors. Chairman Margaret Zaleską will replace Rafael Antczak. It is a well-known economist, with the support of the government. – Need to convince the politicians to print a strong capital market on banners as Poland’s rights state, and we placed it accidentally on the final slides of the various presentations – calls on the Vice-President of the Association of Private Investors Michael Masłowski.
some Time after 11:00 began the extraordinary General meeting of EXCHANGE shareholders convened at the request of the Treasury is the largest shareholder of the exchange. Basically its votes first was cancelled without giving reasons the previous President. After a few minutes the same votes was appointed to the post Rafal Antczak. He must have not been approved by Financial Supervisory Commission, and will formally take over the management of the Warsaw stock exchange.
Maria Zaleski she will go down in history of the second world war, as the first woman President, but also be forgotten as the boss, which way did my duty. Did not even come close. The decision on its appointment was made on 12 January 2016. Next Thursday świętowałaby so anniversary.
Economists anxiously looking at the last rotation in centers. Recall that recently changed also CEO of KGHM, which is also long held this position.
the Frequent changes in the authorities in RUBLES and its subsidiaries, in a hostile environment, inhibit the development and implementation of a comprehensive vision of the capital market assesses the Sochi Kozlowski, broker of securities and analyst at Raiffeisen Brokers. It is important, however, that the change will bring about the exchange of benefits.
an ardent supporter of destination Antczaka the President of the EXCHANGE, he was to be Deputy Prime Minister Matthew Morawiecki. He is the head of the Ministry of development, all the way from the beginning of the year the owner’s supervision on the stock EXCHANGE. Previously, these duties were fulfilled by the Ministry of Finance, which was eliminated.
- If in fact the new President – the anointed Minister of development, this gives hope for good cooperation with the government. This can benefit the exchange, which has long suffered from a small activity of investors – said Kozlovsky Sochi.
Total trading volume on the main market of the exchange in 2016, was 10 percent. lower than a year earlier. The amount of transactions decreased from 225 to 202 billion rubles. Investor activity, so from year to year less.
Excellent adviser will be a good Manager?
Not only Matthew Morawiecki supports Rafael Antczaka. Immediately after the decision the evaluation of the General shareholders meeting commented on Twitter also Jaroslaw Gowin, the Minister in the government of Blows with an Awl.
Rafal Antczak, of course, has a good practical preparation for the presidency of the exchange. Is an economist specializing in macroeconomics and Finance. Participated in Advisory missions in transition economies conducted by the international. Has 20 years of Advisory experience to private and public sectors in the country and abroad. Worked, in particular, for one of the largest companies in the world consultingowych – Deloitte. Currently is still a member of the Board of Directors of Deloitte Consulting SA. Was previously, in particular, the chief economist of the ROM.
- Experience and practical training, of course, the strength of the new President. Knows the specifics of the capital market, emphasizes the Sochi Kozlovsky. Expert Raiffeisen Brokers gives him great credibility, but at the same time stresses that can be quickly checked whether a person with experience in business will equally well in the direct management of a large entity, which is a Securities Exchange in Warsaw.
the market Value of the company’s GPW is estimated at more than UAH 1.5 billion. In recent years, influenced every year more than 300 million roubles of revenue that przekładały on more than 100 million rubles, “net” profits.
What does it mean to control the market, knows Adam Maciejewski, who held this position from 15 February 2013 to 25 July 2014. Welcomed the choice Antczaka than shared on Twitter.
Before the exchange has serious problems
as soon As the selection of a new President will be approved by the KNF, he could take on the job. This is a lot, and as to adhere to the economic efficiency test will come very quickly. Financial markets will be in 2017 under the strong pressure of events of a political nature. In particular, increasing the risk that momentum in the stock market may continue to fall.
Why so expect giełdowi players? Association of Individual Investors (SII) wants, above all, greater efficiency in the promotion in the capital market among politicians.
President of the Exchange may not only be “sentinel server”, czuwającym over the proper trade – emphasizes Mikhail Masłowski Vice-President of SII. – Must have a power of influence to go between the politicians and to convince them that without a well functioning stock exchanges, without a vibrant capital market, we did not have in Poland a strong economy. The exchange’s President must convince the politicians to print a strong capital market on banners as Poland’s rights state, and we placed it accidentally on the final slides of the different presentations.
Michael Masłowski counting on real activity in the field of financial education of investors. Show them that the exchange is not only a place for speculation, but for long-term and stable investment, with which, of course, the exchange is not associated today.
“good shift” expect issuers. In the last 12 months is clearly not enough companies willing to enter the market. Small and medium sized companies do not see the benefits from publishing. On big public proposals in connection with the privatization already almost out of the question. Almost everything that came before sprywatyzowania, are already in private hands.
In the past 12 months, we had only 19 debuts on the stock EXCHANGE. In the previous year there were 30, and even earlier – 28. The last time the worst period in this regard was the post-crisis 2009, when the market appeared a total of 13 new players.
Antczak will complete projects of their predecessors?
Rafal Antczak after its predecessor inherits several projects. Some, according to experts, will not necessarily bring you tangible benefits.
- stuck In my head me an idea the Chairman of Zaleski, which said recently about creating incentives for long-term savings. They include the introduction of tax benefits or exemptions from income tax of income from the sale of securities. Provided that dotyczyłoby is a long-term savings. This is an interesting opportunity he could to try to bring to life the new President of the Warsaw stock exchange, pointed out Alexey Nowosad, expert at Business Centre Club.
at the same time, the expert BCC radziłby Muranovskogo Antczakowi me to seriously think about this and other plans of the exchange, which occurred during the time of Margaret Zaleski. We are talking about the creation of the Russian-Belarusian Center IPO, whose goal should be the construction of a professional center of training, consultations and legal consulting for Belarusian entrepreneurs to enter our market shares.
added To this is the idea of creating a Polish rating Agency. GPW agreed about this with the Polish Foundation for the Development and tour of the Capital. “We think this Agency is primarily to assess the baking paper securities allocated to medium and small companies who do not have the opportunity to benefit from major foreign news agencies. We want to help these companies,but also to increase transparency on the market of stocks and bonds that will have a positive impact on the confidence of investors and for companies and the stock EXCHANGE” announces about the Zaleski in early December.
- the New President of the EXCHANGE needs to do everything to perk up the stock market in Poland. Not necessarily back to be the input of some of the latest ideas CEO Zaleski, on the appointment of the Polish-Belarusian center IPO or construction of a private rating Agency. A similar experiment with Ukrainian companies came out best. In turn, the idea of creating a new institution on the model of American Standard & Poor’s, I think, is quite unfortunate. First of all, I have serious doubts about the independence of such institutions and, as a consequence, in the case that a well popular company was later financial problems, says Nowosad.
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