Tzvetan Vassilev
| Tzvetan Vassilev | |
|---|---|
| Born |
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. Vasilev is Chairman of the Supervisory Board of Corporate Commercial Bank AD, the fifth bank in Bulgaria based on assets, as well as its majority shareholder. Tsvetan Vasilev also chairs the Supervisory Board of Victoria FATA Insurance as well as the Supervisory Board of Vivacom, a Bulgarian telecom company. Vasilev is the recipient of the badge of honor of the University of National and World Economy in Sofia and Doctor Honoris Causa of the "St Ivan Rilski" University of Mining and Geology.
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.
Tsvetan Vasilev started his career in finance in 1992 when he founded his brokerage company Bromak EOOD and his investment intermediary Fina-S AD. 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.
In 2012 affiliates of Tsvetan Vasilev and VTB Capital acquired the controlling interest of the leading Bulgarian telecom company Vivacom from its creditors. Experts claim that the deal was amidst the most complicated ones on the Bulgarian financial market. The restructuring was approved by the European Commission and the international creditors of Vivacom. 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.
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