ISTANBUL May 7 Borsa Istanbul, Turkey's
state-run stock exchange, has dismissed three senior personnel
after a restructuring eliminated their jobs, an official at the
exchange told Reuters on Wednesday.
The decision to discharge two deputy general managers and
the head of research at Borsa Istanbul came at a May 2
board meeting, the official told Reuters on condition his name
was not used.
It was not immediately clear whether the dismissals were
linked to a series of purges at other state institutions in
recent weeks after a high-level corruption scandal broke late
The Capital Markets Board, Turkey's financial-markets
regulator, dismissed three deputy chairmen and 11 other senior
members on April 25 in a move that one source said was
government retaliation for the graft investigation, which
involved Prime Minister Tayyip Erdogan's inner circle.
Members of the state banking regulator have also
been removed from their posts.
"As part of the ongoing organisational restructuring at
Borsa Istanbul, deputy general managers Ali Coplu and Mustafa
Baltaci were relieved of their duties," the exchange official
said. "Because the research and business-development sections
were merged, the research manager Orhan Erdem was also relieved
of his duties."
Borsa Istanbul declined to comment. The three who lost their
jobs were not immediately available for comment.
Nasdaq OMX Group took a 5 percent stake in Borsa
Istanbul, which houses the stock, gold and derivatives exchange,
at the end of 2013.
Erdogan has denounced the graft probe as a plot against his
rule orchestrated by his former ally Fethullah Gulen, a
U.S.-based Muslim cleric who has many supporters among Turkey's
police, judiciary and other arms of the bureaucracy. Thousands
of police officers and prosecutors have been reassigned.
(Reporting by Birsen Altayli; Writing by Ayla Jean Yackley;
Editing by Larry King)