According to the CEO of UniCredit Bulbank, Bulgaria has to join the eurozone as soon as possible

Harmonisation of corporate management rules will strengthen the stability of the financial system in Europe. This was a conclusion drawn by Levon Hampartzoumian - CEO of Unicredit Bulbank during Deloitte Next Generation CFO Academy. The event organized by one of the largest auditor companies in Bulgaria - Deloitte is a part of a programme targeting the future financial officers of the companies and aims to prepare them to face the multilayer complexity of this function and the growing expectations to it.

Harmonisation of the corporate management rules is one of the main goals of the Fourth Capital Requirements Directive. In this way new bank capital standards are introduced into the EU regulations- better known as Basel III. The new rules effective January 1, 2014 ensure that banks maintain the required level of capital both in quantitative and qualitative terms.

"The new regulations are made in order to prevent a recurrence of past crises. However, new crises are difficult to avoid”, said Levon Hampartzoumian. He commented that the financial sector is flooded by new regulations which cause new expenses for the business, but despite the changed environment, new ways for achieving efficiency have to be found.

"The EU countries have a different culture, but we have to work on the introduction of equal operating regulations and standards”, said also Mr. Hampartzoumian during the Deloit Academy. He explained that he can see no reason against Bulgaria’s soonest possible joining the eurozone. According to the CEO of UniCredit Bulbank the path to joining is much more important than the result because of the synchronization of the legislation and the good practices of the EU, which gradually have to be implemented fully in the operations of the financial sector.

Deloitte Next Generation CFO Academy targets future financial officers in companies, aiming to prepare them for the roles and responsibilities, which this position implies. Considering that during the last decade the responsibilities of a financial officer within an organization have increased further, the Academy offers a comprehensive study programme to help future leaders meet the growing expectations and enhance their professional expertise. To attend the classes, the participants have to be nominated - each of them by his/her CEO/General Manager, to be a part of the next generation of business leaders with potential to become financial officers in the next few years.

The lecturers are professionals from Deloitte (from the Bulgarian and foreign offices of the company) as well as guest lecturers from top organizations in the relevant sectors of operation. The syllabus is built in compliance with the Pillars of success and provides training on Leadership, Corporate Management, Talent Management, and Interaction with the CEO function. Each topic has one day dedicated to it and the team of lecturers has been selected in such a way that theoretical fundamentals and various practical aspects will be outlined, along with facilitating discussions among the participants.

More information for media:

UniCredit Bulbank, Identity & Communications Department

Viktoria Blajeva, Phone: + 359 2 9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch

Magdalena Ivanova, Phone: + 359 2 9232 528, nbhebmfob/jwbopwbAvojdsfejuhspvq/ch