UP&DOWN

Written by: Monika Mudranincová

PEOPLE UP

Photo: ČTK		Michal Heřman The acting CEO of Eurotel, the oldest Czech mobile operator, has been finally confirmed in his position after he won a tender that the company organized after Terrence Valeski’s resignation this spring.
Photo: archiv		Evan Z. Lazar The co-chair of international law firm Salans Global Real Estate Group has been chosen by the Association for Development of the Czech Real Estate Market to receive the Award for Excellence. Lazar is the only attorney in this country to have been recognized in this manner.
Photo: Petr Poliak		Alexis Juan The head of Komerční banka has managed his institution to win the title “Bank of the Year”, which is annualy bestowed by Fincentrum. Due to the remarkable improvement of its services, KB overcame Česká spořitelna, winner in 2002 and 2003.

PEOPLE DOWN

Photo: ČTK		Milan Teplý The general director of dairy firm Madeta announced that he must introduce a cost-cutting program and lay off hundreds of people as a result of the decision of Czech milk producers to triple exports abroad, at the expense of sales to domestic dairy firms.
Photo: ČTK		Petr Lachnit The ex-minister for regional development signed a rental contract for a house in the center of Prague to the Alpa firm – for a fraction of the market price and without a tender. His mistake will cost the ministry CZK 50 million in compensation to Alpa after the cancellation of the deal.
Photo: Pavel Veselý		David Gladiš The chief of CzechTourism was called off by the minister of regional development Jiří Paroubek for alleged mistakes related to business operations. Gladiš claims that he was removed so the minister could install his own man, Rostislav Vondruška, a former head of the Congress Centre.

Photo: Martin Šára

Petr Koblic: Investing his time and energy
RECENTLY Petr Koblic (33), a well-known financier and broker, was named head of the Prague Securities Exchange. His goal seems simple: “We want to overturn the myth that trading on the capital market is a certain money-loser, so that no one will doubt the viability of the Prague exchange,” says the director of an institution that until recently was nearly invisible. But he warns that without a change in the government’s attitude towards trading on capital markets, this will be hard to achieve. The exchange, which in the first ten months of this year executed stock transactions worth 12 billion euros, desperately needs financial injections in the form of an influx of new money that pension reform would bring to the market. “Unfortunately, that has not yet begun,” Koblic says. “So we intend to devote ourselves to education and warn the government not to tarry with pension reform,” insists this economic engineer. He was the first director ever not to head up the exchange as a former official, but straight from the capital markets environment.
He began his career as a broker at Živnostenská banka, then worked for Patria Finance, and since 1998 led CA IB Securities. Most recently he was the director of the Private Banking, Securities, and Asset Management department at HVB Bank. He happily accepted the offer of the exchange’s shareholders to become its boss. “It’s a challenge,” admits this manager who has a contract for three years but won’t deny its possible extension. That could be necessary if he is to meet all the goals he has set. So this father of two young children will devote himself to work and family exclusively. “I’ve scratched almost all my hobbies except golf and skiing,” he says without a hint of regret.

	Photo: Martin Šára

Dušan Kunovský: Inspired to build
IN DECEMBER Dušan Kunovský, the chairman of the board, general director, and owner of the joint-stock company Central Group, will celebrate his 33rd birthday and the 11th of his “baby” – a development firm that builds masonry family homes and apartment houses. A lawyer with degrees from Prague and Cambridge who abandoned his original profession because he was bored to death with “shuffling papers and always litigating over something,” launched his own business from nearly nothing. First he bought land and sold it at a profit, built turnkey family homes, and finally bowed to market demand and began building apartment sites. “I was cautious. Our firm has never taken out any loans; we financed our company with profits and deposits from clients,” he explains. The tactic paid off. Last year Central Group’s sales exceeded CZK 2.5 billion, with a (pretax) profit of CZK 250 million. “Our success is due to the right decisions at the right times, luck, lots of work, and a great team,” claims this boss of 200 employees.
The company is currently offering 2,000 apartments, with another 3,000 being built. It is also continuing to build family homes that will soon be more modern and luxurious than existing types. “In terms of the extensiveness of our offer we’re currently the market leader for home and apartment construction,” Kunovský says, expressing faith that in the future it will strengthen its position further. This lover of Mediterranean cuisine and good wine confides that he goes to the mountains for inspiration. “The best thoughts occur to me when I take a backpack and go to the Himalayas for a few days. I get lots of exercise, clear my head, and come back with a notebook full of ideas,” he explains.