Election of the executive director of the CKDD under the veil of secrecy

The election of the new executive director of the Central Clearing Depository Company (CKDD) lasts three months, and the secrecy of that non-transparent procedure and a series of informal negotiations, along with already one failed competition, reminds a lot of the appointment of one of the heads of the secret police service, and not the selection of the first man of the cadastre of all papers of value in Montenegro.

It is not possible to obtain official data on the candidates for the future director of the CKDD, the keeper of stock market secrets on the failing Montenegrin market, with whom the members of the CKDD Board of Directors held an interview last week.

On Friday, "Vijesti" was confirmed by several unofficial sources that one of the candidates in the second competition is Veselin Koprivica, an official of Atlas Bank, who nine years ago was the director of the Directorate for Regulation of the Central Bank (CBCG).

Among the candidates for the new director, as in the first competition, are former independent MP and presidential candidate Mladen Bojanić, former director of Montenegro Stock Exchange and New Tobacco Plant Dejana Šuškavčević and director of DZU Atlas penzija Danijela Laketić, who was previously director of the NEX stock exchange, and companies that managed the Atlas Mont privatization fund.

One of the candidates favored in the first advertisement from the broker-dealer house "Bull and Bear", a shareholder of CKDD, is the head of the custody department of NLB bank Danilo Vujović, who previously worked at CKDD. Vujović, whom "Vijesti" tried to get in touch with on Friday, also applied for another competition, but we could not get confirmation from him.

The candidate from the first competition and director of the Risk Department at Lovćen Bank, Danijela Golubović, did not apply for the repeated competition, as did the former director of Atlas Lajf, Slobodan Manojlović, and the former manager of the Atlas Group, Žarko Đurišić.

The owners of the Central Clinical Depository Company are CBCG, which has 34,99 percent of the shares, Crnogorska komercijalna banka (CKB) with 14,99 percent, and "Bull and Bear" broker-dealer with 19 percent. The owner of "Bull and Bear" Aleksandar Jovović, also controls the remaining ownership share of CKDD through related companies and persons Quantum Investments (three percent), Štamprija Obod (2,99 percent) and a hidden custodial account in CKB in which a total of 25 percent of the ownership is CKDD.

The members of the CKDD board who decide on the election of the new director are Marina Perović and Radojica Luburić (CBCG), Radomir Rudanović (CKB), Biljana Obradović and Maja Hinić Gazivoda.

They do not want to say why the first competition failed

The CKDD did not officially announce or explain why the first competition for the selection of directors failed, and "Vijesti" sources claim that it did not happen because of the insufficient quality of the candidates who applied, but because the monetary authorities, that is, the governor of the CBCG Radoje Žugić and Aleksandar Jovović, the strongest stock market player for several years, could not agree on the name of a desirable candidate for director.

Bearing in mind the balance of power in the Board of Directors, if there is no final agreement on the repeated advertisement from the representatives of the owners of CKDD, it is clear that in the event of a vote on the new director, the vote of the representative of CKB Radomir Rudanović will make the final decision.