Tsvetan Vasilev

Tzvetan Vassilev
Born (1959-08-12) August 12, 1959
Gabrovo, People's Republic of Bulgaria
Nationality Bulgarian
Alma mater University of National and World Economy
Occupation Chairman of the Supervisory Board of Corporate Commercial Bank AD
Years active 1985–present

Tsvetan Vasilev (Bulgarian: Цветан Василев; born 1959) is a Bulgarian entrepreneur and financier currently ranked as the second most influential person in the country according to Forbes Bulgaria.[1] Vasilev is Chairman of the Supervisory Board of Corporate Commercial Bank AD, the fifth bank in Bulgaria based on assets,[2] as well as its majority shareholder.[3] Tsvetan Vasilev also chairs the Supervisory Board of Victoria FATA Insurance[4] as well as the Supervisory Board of Vivacom, a Bulgarian telecom company.[5] Vasilev is the recipient of the badge of honor of the University of National and World Economy in Sofia[6] and Doctor Honoris Causa of the "St Ivan Rilski" University of Mining and Geology.[7]

Biography

Tsvetan Vasilev started his career in finance in 1992 when he founded his brokerage company Bromak EOOD[8] and his investment intermediary Fina-S AD.[9] Between 1995 and 1999 he headed the Foreign Exchange Operations and Liquidity Department of Central Cooperative Bank, and in 1997 he also became member of the bank's Board of Directors. In 1999 he left Central Cooperative Bank to head the Markets and Liquidity Department at CB Bulgaria Invest (now Allianz Bulgaria Commercial Bank). Between 2000 and 2003, Vasilev served as Chairman of the Executive Board and Executive Director of Corporate Commercial Bank AD. In 2003 he became its majority shareholder and Chairman of its Supervisory Board.[10] Tsvetan Vasilev holds a master's degree in International Economic Relations from the University of National and World Economy. After graduation, he worked as a research fellow in economics at the Center of Foreign Trade and International Markets for seven years.[11]

The Vivacom Deal

In 2012 affiliates of Tsvetan Vasilev and VTB Capital acquired the controlling interest of the leading Bulgarian telecom company Vivacom from its creditors.[12] Experts claim that the deal was amidst the most complicated ones on the Bulgarian financial market.[13] The restructuring was approved by the European Commission and the international creditors of Vivacom.[14][15] Prior to the acquisition by Vasilev and VTB Capital, Vivacom had incurred significant debt after a buyout by AIG in 2007, which subsequently sold its shares to PineBridge Investments.[16]

Active Citizenship

Tsvetan Vasilev is Doctor Honoris Causa of the “St. Ivan Rilski” University of Mining and Geology. He is also recipient of the Honorary Badge of the University of National and World Economy and a member of the university’s Board of Trustees.[17] He has authored a number of publications analyzing the financial challenges before Bulgaria and the European Union.[18][19][20][21] Vasilev is a frequent guest of various international economic forums, such as the Wroclaw Global Forum[22] and the Black Sea Energy and Economic Summit.[23][24] Tsvetan Vasilev is a member of the International Advisory Board of the Atlantic Council.[25] Tsvetan Vasilev has sponsored many initiatives in various fields, including scientific research, development of sports, support of orphanages, renovation of churches and monasteries, etc.[26][27][28][29][30][31][32] He is the main benefactor of PFC Botev Plovdiv, the oldest football club in Bulgaria.[33] Vasilev’s efforts are concentrated on the development of the football club and its junior football academy.[34]

After spending some time in Austria, Vasilev is currently (as of October 2014) in Belgrade, Serbia (he voluntarily surrendered to Serbian police officers on 16 September 2014) and a decision is in the process of being made as to whether he will be extradited to Bulgaria, where he may face charges for allegedly abusing his privileges in his capacity of a Chairman of the Supervisory Board of Corporate Commercial Bank AD. In relation to that, Vasilev was also at one point on Interpol's list. In March 2015, the Appellate Court of Belgrade ruled against the extradition request of the Bulgarian authorities.[35]

Awards

Tsvetan Vasilev has received a number of prestigious awards. He has been the recipient of The Banker newspaper "Banker of the Year" award for his personal contributions to the Bulgarian economy and banking several times:

In 2011 he received the Mr. Economy award (the grand award of the Economics magazine in Bulgaria)[40] for overall contribution to the development of the Bulgarian economy.[41][42] In 2012 Vasilev received an award for his overall contribution to the development of motorcycle sports in Bulgaria by the Bulgarian Motorcycle Federation.[43]

Personal life

Tsvetan Vasilev is married to Professor Antoaneta Vassileva, Dean of the International Economics and Politics Faculty of the University of National and World Economy.

References

  1. ↑ Top 30 of the Most Influential People in Bulgaria, Forbes Bulgaria, 28 March 2012 (Bulgarian)
  2. ↑ Official website of the Bulgarian National Bank (the central bank of Bulgaria) (Bulgarian)
  3. ↑ Official website of Corporate Commercial Bank AD
  4. ↑ Official website of Victoria FATA Insurance (English)
  5. ↑ Official website of Vivacom (English)
  6. ↑ Honorary Titles, Official website of the University of National and World Economy (English)
  7. ↑ Corporate Commercial Bank AD Gives Two Annual Awards to Top Geology Students, Monitor newspaper, 31 July 2008. Retrieved 8 September 2013. (Bulgarian)
  8. ↑ Bromak EOOD official website (English)
  9. ↑ Fina-S AD official website (English)
  10. ↑ Corporate Commercial Bank AD official website
  11. ↑ The Dearest Clients, The Manager magazine, October 2008. Retrieved 27 August 2013. (Bulgarian)
  12. ↑ VTB, Corporate Bank Affiliates Buy 94% Stake in Vivacom, bloomberg.com, November 2012 (English)
  13. ↑ BOYANOV&Co. Advises on “Probably the Most Complicated Deal in Bulgaria Ever”, 6 September 2012, boyanov.com (English)
  14. ↑ VTB, Corporate Bank Affiliates Buy 94% Stake in Vivacom, bloomberg.com, 12 November 12 2012 (English)
  15. ↑ Bulgaria's Vivacom gets court approval for restructuring, reuters.com, 6 September 2012 (English)
  16. ↑ Majority Owners of Bulgaria Telco Vivacom Make Buyout Offer, reuters.com, 28 January 2013. Retrieved 23 September 2013.(English)
  17. ↑ Board of Trustees page on the official site of the University for National and World Economy (English)
  18. ↑ On Dual Standards and Why They Threaten Europe’s Unity, New Europe, 12 December 2010 (English)
  19. ↑ Bulgaria’s Potential for Sustainable Growth and How to Enhance it in 2011, New Europe, 1 January 2011 (English)
  20. ↑ Europe: Any Light at the End of the Tunnel?, New Europe, 2 January 2012 (English)
  21. ↑ Double EBRD Standards on EU Funding, Analysis of Tsvetan Vasilev, New Europe, March 2012 (English)
  22. ↑ Wroclaw Forum Discusses Growth in Eastern Europe, Europost, 8 June 2012, Retrieved 24 September 2013. (English)
  23. ↑ Istanbul Energy and Economic Summit 2012, Official website of the Atlantic Council(English)
  24. ↑ Black Sea Energy and Economic Forum 2011, Official website of the Atlantic Council (English)
  25. ↑ International Advisory Board page on the website of the Atlantic Council (English)
  26. ↑ Top Students Receive Gifts from Corporate Commercial Bank, Newspage on the official website of the University for National and World Economy (Bulgarian)
  27. ↑ Tsvetan Vasilev Received an Award from the Bulgarian Motorcycle Federation for an Overall Contribution to Bulgarian Motorcycle Sports, bnews.bg, December 23, 2012 (Bulgarian)
  28. ↑ Corporate Commercial Bank AD is the New Sponsor of Bulgarian Volleyball, novinite.bg, 9 October 2012(Bulgarian)
  29. ↑ Corporate Commercial Bank AD Makes Christmas Wishes Come True Again for Children in Need at the Orphanages in Sofia and Gabrovo, Official website of Corporate Commercial Bank AD, December 12, 2012 (Bulgarian)
  30. ↑ Reconstruction of the Sveti Dimitar Solunski Church in the Etara Quarter of Gabrovo, Official website of the Bulgarian Orthodox Church, November 30, 2009 (Bulgarian)
  31. ↑ A Monument of Atanas Burov Unveiled, politika.bg, December 9, 2011 (Bulgarian)
  32. ↑ Official site of the St. Kozma and Damyan Monastery (Bulgarian)
  33. ↑ Botev is Ready for the Championship Title, The New Base Proves a Different Model of Development, sporta.bg, 13 september 2013. Retrieved 22 September 2013 (Bulgarian)
  34. ↑ Mury Stoilov Before the Opening of the Base in Komatevo: "This was My Dream", gong.bg, 17 September 2013. Retrieved 22 September 2013. (Bulgarian)
  35. ↑ Сръбските магистрати отказаха да екстрадират Цветан Василев, казусът се връща на първа инстанция, съобщиха от Апелативния съд в Белград, Mediapool newspaper, 11 March 2015. Retrieved 16 March 2015. (Bulgarian)
  36. ↑ Tsvetan Vasilev Became Banker of the Year, Newspage on the Official Website of Corporate Commercial Bank (Bulgarian)
  37. ↑ Banker of the Year Awards, news.expert.bg December 3, 2008. Retrieved 16 September 2013. (Bulgarian)
  38. ↑ Banker of the Year Awards, 9 December 2010, money.bg. Retrieved 16 September 2013. (Bulgarian)
  39. ↑ Tsvetan Vasilev Named Banker of the Year, europost.info. Retrieved 1 February 2014.(Bulgarian)
  40. ↑ Mr. Economics, Official website of the Economics magazine (Bulgarian)
  41. ↑ Mr. Economics Awards 2011, Report by the Bulgarian National Television on 30 November 2011, www.bnt.bg. Retrieved on 4 September 2013.
  42. ↑ Mr. Economics 2011 is Tsvetan Vasilev, Standart newspaper, November 2011. Retrieved on 4 September 2013. (Bulgarian)
  43. ↑ Tsvetan Vasilev Received an Award from the Bulgarian Motorcycle Federation for an Overall Contribution to Bulgarian Motorcycle Sports, bnews.bg, December 23, 2012 (Bulgarian)
This article is issued from Wikipedia - version of the 6/3/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.