The Team

 Curtis M. Coward

Managing Partner and Chief Executive Officer

Mr. Coward is the CEO of Arceland Development and manages day-to-day operations. From 2000 until the present, Mr. Coward has been the CEO of Trident Investment Group, LLC, a project development firm serving as the lead developer of the Raffles Resort project at ancient Olympia in Greece. From 1985-2000, Mr. Coward was a Partner in McGuire Woods,LLP, a leading American law firm, from 1985 to 2000, specializing in corporate, infrastructure and project finance law. In that capacity, he both represented and served on boards of directors of public companies in the US. From 1994 to 2000 he managed the firm's international legal practice, including its extensive activities throughout Eastern Europe and the former Soviet Union. In particular, he was instrumental in structuring and closing the €500 Million Maritza East III power plant rehabilitation project, the first major post-Communist foreign direct investment in Bulgaria, during the period 1995-2000. Prior to joining McGuire Woods, Mr. Coward was the CEO of MAPA Corporation, which successfully developed the first planned unit development in Lynchburg, Virginia. Mr. Coward is a graduate of Denison University and the College of William and Mary Law School. He is a member of the Virginia Sate Bar and a Director of the Atlantic Council of the United States, where he served as chair of a special task force on Defense Conversion in Bulgaria. He resides full time in Sofia.

 Christos Mouroutis

Founder, Managing Partner and Development Manager

Mr. Mouroutis is an Athens College (1983) alumnus and has studied Law in the University of Thrace (1989). Between 1993 and 1996 he formed and managed the shipping company “Unibros Shipping Greece Ltd”, a dry cargo liner operating between the Black Sea and the Far East. Following the sale of the company, in late 1996 Mr. Mouroutis founded UCI, a telecom investment company, which was sold to the Nasdaq- listed company “e-Globe Inc” in 1999. From 1999 to 2002, after relocating to Sofia, Mr. Mouroutis owned and operated “Bitex”, a web, software and bandwidth provider in Bulgaria, listed in the Bulgarian Stock Exchange as “EuroCapital Bitex”, before forming EuroCapital Finance in mid 2002. EuroCapital was responsible for some of the largest and most successful land assemblages in Bulgaria and is also a large scale investor in the same sector. Two of the assemblages produced returns in excess of 400% to the investors involved. EuroCapital created the Arceland Development platform in late 2006 together with leading international investors from New York, Boston and Kuwait. Since its formation Arceland Development has assembled, acquired and now manages a real estate portfolio in Sofia including over 440,000m2 valued at more than €150 million. Mr. Mouroutis is currently an active management member in Arceland’s operations in Sofia, where he focuses on business development, capital raise and banking relations. He is also elected Chairman of the Bulgarian Association of Land and Property Owners (BULLPOA), the organ which promotes and protects the landlord interests in the country.

He is fluent in Bulgarian, Greek and English and speaks French.

 Dimosthenis Charakidas

Managing Partner and Chief Financial Officer

Mr. Charakidas currently serves as the chief financial officer (CFO) of Arceland. He also serves as a financial consultant to the University of Athens regarding EU funded programs and e-learning courses. Mr. Charakidas has substantial experience in financial management and initial public offerings for companies listed on the Athens Stock Exchange in his former capacity as Vice President and Managing Director of Hellenic Business Network S.A., a financial consulting company. He is responsible for all of Arceland’s financial planning, bookkeeping, disbursement and financial reporting activities. Mr. Charakidas is a graduate of the University of Athens with a degree in Economics. He is fluent is Greek and English.

 Charalampos Sioufas

Partner, Greek Operations Task Force

Mr. Charalambos (Babis) Sioufas, born in Karditsa, Greece in 1946 is Managing Director at Theo V. Sioufas & Co. Law Offices and a partner of Arceland’s Greek operations task force.
Theo V. Sioufas & Co. Law Offices is a Greek international law firm, with its offices located in Greece (Piraeus and Athens), China (Shanghai) and as of Q3 2012 in Sofia (Bulgaria) was founded in 1971 and it is counting today more than twenty-five specialized attorneys, rendering it one of the Hellenic Republic’s largest and most reputable law firms of international scope.
Its clients fall into three principal groups: Greek institutional, corporate and natural entities conducting business in the Hellenic Republic and abroad; international companies engaged in business across one or more national jurisdictions; and international banks involved in shipping finance, private banking, corporate advisory services, recapitalizations and other forms of financing.
The Firm is involved in advising a number of local and international banks on banking and financial law matters as well as on matters of banking litigation cases. More particularly, the Firm acts as the legal counsel to (among all):

Commerzbank AG, Deutsche Bank AG, Deutsche Schiffsbank AG. HSH Nordbank AG, Credit Agricole CIB, UniCredit Bank AG, Alpha Bank S.A., Emporiki Bank, EFG Eurobank Ergasias S.A., ABN AMRO N.V.

The Firm is involved in shipping law and admiralty matters; its vast experience in shipping business includes the establishment of shipping companies in Greece and abroad, registration of ships and mortgages thereon (under the laws of various jurisdictions), chartering, sale and purchase; also, on matters relating to the financing of shipping operations and the banking side of the business; also, on matters concerning the management of ships and the establishment in Greece of branches of foreign management or related companies under the general ordinary provisions or under special laws granting beneficial tax status to the operation.

The Firm has also assisted shipping clients in the structuring of their business for the purposes of issuing bonds in foreign markets.

The firm has acted in thousands of shipping finance transactions, including the biggest ever ship-financing to a private shipping company in Greek shipping history, in the amount of US$1,000,000,000 (One billion USD), for which we have acted for a syndicate of international prime banks.

 Luca Focardi

Partner, Greek Operations Task Force

Mr. Luca Focardi, born in Florence, Italy in 1963, is an independent commercial and financial advisor. Luca is a fluent speaker in five languages with an over 18 years experience in international finance.
Luca was head of business development at Banque Worms' representative office in Athens, then Head of Continental Equity Sales and Head of Institutional Sales at HSBC in Athens. He was nominated by HSBC among the 50 best employees worldwide and best employee in Greece. He was also voted top individual, Greece Equity Sales at Thomson Extel Pan European Survey. Luca has also worked for a number of boutique finance houses in Greece as international business developer.
Luca also worked as Director of European Sales at Renaissance Capital in both Cyprus and Moscow. Prior to his finance career he worked as a civil servant at the European Parliament in Luxembourg, Belgium , France and Portugal.
He currently advises Greek companies investing and expanding to Serbia, Bulgaria and the SEE Region.

 Nedko Todorov

Chief Technical Officer

Mr. Nedko Todorov is a native of Bulgaria. He received his Bachelor Degree as Electric Engineer from the Technical University of Sofia and his Master Degree from the University of Sussex in Brighton England, in Applied Physics. He has a rich working experience. He worked with the Bulgarian Academy of Sciences, Institute of Industrial Cybernetics and Robotics, later with OCSY, Intercontinental Sofia, IBM Bulgaria, Balkanpharma Holding (which later was acquired and renamed as Actavis), with Lumen BG and finally before joining Arceland, he was the Installation Manager of the Thracian Cliffes Golf and Spa Resort, in Black Sea, one of the best golf resorts in the World. He is fluent in English and Russian and speaks German. His role in Arceland is to identify and manage renewable energy projects engineering, procurement and construction.

 Dobrin Ivanov

Managing Partner, Chief Property Officer

Mr. Ivanov is a native of Sofia and holds a degree in Mechanical Engineering from the Technical University of Hungary. He owns and operates one of the largest truck and bus tire importers and distributors in Bulgaria, and has been active in the real estate sector for over 15 years, acquiring over 1 million square meters in Sofia, for his own portfolio, while assembling, regulating and reselling more than 1,000,000m2 for third parties, including major international institutions. In Arceland Management, Dobrin is responsible for making valuations of real estate inventory as well overseeing the remediation of properties where required. He is also dealing with the local authorities during all the processes of the management activities. Dobrin speaks his native Bulgarian but he is also fluent in Russian, French, Hungarian and speaks very good English, Polish and German.

 Robert Davis

Non executive director

Robert Davis has over 20 years’ experience in commercial real estate finance, principally in complex operational turnarounds and financial restructurings. His experience includes public and private debt and equity in multiple jurisdictions. Since 1995, he has been the principal shareholder of Jaeger Realty, a private equity investor active in distressed property in greater Europe, the UK, the US and the Caribbean. Previously, Mr. Davis was a Vice President in the real estate principal investment group at Lazard Freres & Co. and an officer in the Restructured Real Estate Department at Bank of Boston. Mr. Davis graduated with honors from the International Business Relations program at the Fletcher School, a joint graduate degree program of Tufts University and Harvard University, and cum laude with Distinction from Colby College.

 Andreas Rigas

Technical Supervision Manager

Mr. Rigas has lived and worked in Bulgaria for over five years. He has supervised the design and construction of the 12,000 Domokat’s residential complex in Dragalevtsi, Sofia, the design and construction of a 10,5 MW h/e power station in Smokovo, Greece, the design and construction of the Razlog, Bulgaria Waste Water Treatment Plant, with EU financing and other projects in Greece. He holds a MSc on Project Management from the Manchester Institute & Technology (UMIST) and speaks Greek, English, Bulgarian and German.

 Svet Derderyan

Strategic Planning Associate

Mr. Derderyan was born in 1982 in Sofia. Prior to joining Arceland in 2008, he worked as a Business Analyst at MarketBridge in Washington, DC and Toronto, Canada. Before that, he also worked as an Investment Banking Analyst at Merrill Lynch in New York and as a Legislative Assistant at the US Senate Finance Committee. He graduated Summa Cum Laude from Hamilton College in New York with degrees in Economics and International Relations. Currently enrolled at the University of North Carolina MA/PhD program in International Political Economy, he offers his part-time services to Arceland and is expected to rejoin the firm full time in May 2010. He speaks Bulgarian, English and German.

 Dimitrina Tsankova

Chief Accountant

Born in 1977 in Sofia. Graduated in a specialized Economic and Business Administration High School in Sofia and received her MBA from the University of National and World Economy. She has 8 years of work experience as Chief Accountant in major Bulgarian companies, owned by international investors. In 2004 she formed, together with EuroCapital, the accounting and tax planning company "EuroTarget Ltd", which serves currently 47 companies and is an internal accounting, finance and tax planning of Arceland. Dimitrina speaks Bulgarian and English fluently.

 Evgenia Ilieva

Controller

Mrs. Ilieva is the comptroller of Arceland. Prior to joining Arceland in 2008 she spent eight years as an accountant in the United States, working for both government agencies and private real estate firms. She is a graduate of the University of National and World Economy, Sofia, with a Masters Degree in Economic Sciences, and she also studied accountancy at the Sarasota Technical Institute in Sarasota, Florida. She is fluent in Bulgarian and English.

 Antonia Denova

Operations and Contracts Manager

Mrs. Denova was born in 1978 in the city of Varna. She graduated the Varna's Economic School, Business Administration Sector and she received a MSc of Economic Sciences from the Technical University of Varna in 2000. Up to 2004, she worked for the company "Copycent OOD" in Vratsa and for the public development company "Domokat AD". At the end of 2004 she joined EuroCapital Finance AD and she assisted the creation of the Arceland partnership in 2006. She is managing acquisitions and payments. She speaks English, Russian, Greek, German and her native language.

 Svetlana Miliovska

Business Development and Acquisitions

Mrs. Miliovska was born in Sofia in 1974. In 1998 she graduated with MSc from the Technical University of Sofia - Specialization "Industrial Management and Marketing". She worked for the Antenna Group - radio Express in the Marketing Division between 1999 and 2000. In the year 2000 she joined "Bulgarian Information Technologies SA", a telecom company owned by Germanos, LogicDis and other Greek investors. In 2002 she became head of Marketing and Sales. In 2005, she continued the same activity when the company was bought by EuroCapital and other investors and became public as "EuroCapital Bitex AD". Between 2005 and 2008 she was active in Real Estate Marketing and Sales, gaining a significant experience in this sector. She speaks Bulgarian, English and Russian.

 Tsvetan Dimitrov

Database Manager and IT

Mr. Dimirtov was born in 1976 in Kardjali, Bulgaria. He holds a Diploma in Faculty of Computer Systems and Control from the Technical University of Sofia. Before joining Arceland in April 2008, he worked eight years as a Head of IT & Web Development in "EuroCapital Bitex AD", a telecom company owned by Germanos, LogicDis and other Greek investors. He speaks Bulgarian, English and Russian.

 Diana K. Todorova

Chief Operations Manager

Mrs. Diana K. Todorova was born in Stara Zagora. She holds a Master Degree in Corporate Finance and Accounting from the University of Varna. She worked for the German Center in Stara Zagora, for Emporiki Bank Bulgaria and since 2002 she founded EuroCapital Finance AD together with Mr. Christos Mouroutis, where she is an active member. She is the CFO of Eurocapital and a partner in Arceland's operation - COM. She speaks her mother tongue Bulgarian, German, English, Greek and Russian.

 Mariana Spasova

Operations, Due Diligence and Data Room officer

Graduated in a specialized Economic and Business Administration High School in Sofia and received her MBA from the University of National and World Economy. She has 11 years work experience as expert of geographic and informational systems in major company for the production of electronic components and an international internet based geo-locator company. Mariana speaks English and Bulgarian.

 Penka Ognianova

Office Manager, HR and Operations

Graduated with Bachelor degree from the Medical College in Sofia, Pharmacy. She worked in the National Pharmacy Management for several years as well as in a managing position in a leading Pharmaceutical production company in Bulgaria. Speaks Russian and Bulgarian.

 Gergana Rousinova

Controller and Accountant

Mrs. Roussinova has been born in Sofia in 1974. In 1996 she graduated the University of National and World Economy, Sofia, with a Master's Degree in speciality 'Economics of Industry'. She has an 8 years work experience as an accountant. She joined the company in 2005. Apart of her mother tongue Bulgarian she is fluent in English.

 Polia Varbanova

Controller, Internal Auditor

Mrs Varbanova she has been born in Chervena Voda, Bulgaria and has studied in Economic School, speciality "Finance and Management"; the University of Economics in Varna, Bulgaria, where she obtained Bachelor degree in Commodities Science and finally in St. Cyril and St. Methodius University of Veliko Turnovo where she obtained Master degree in Finance. She is with EuroCapital and Arceland since 2005. She speaks her mother tongue Bulgarian and English.

 Milena Ilieva, Controller

Internal Auditor

Mrs. Ilieva has been born in Shumen and has graduated with a Bachelor degree in Higher School of Insurance and Finance, Sofia speciality accountancy, and then with a Masters degree in University of Veliko Tarnovo, speciality: finance. She has lived and worked in the United States before joining the firm in 2007. She speaks her mother tongue Bulgarian and English.

 Biliana Petrova

Municipalities and Authorities Coordinator

Mrs. Petrova was born in Sofia. Before joining Arceland she worked for ten years for the Municipality of Sofia. She speaks Bulgarian and Russian.

 Boriana Stoianova

Associate

Ms. Boriana Stoianova was born in the city of Botevgrad. She graduated the Botevgrad's Economic University, Business Administration in 2008. Within 2004 and 2008, she worked for the foreign investors "Kareras" LTD and "Hromogen" in Sofia. Since 2008 she is working for the company as accounting associate.

 Vera Chernokojeva

Associate

Mrs. Chernokojeva was born in 1984 in Sofia and had graduated the Spanish school of foreign languages. She is currently studying Finance and Credit in International University Eurasia, in Bulgaria. Apart of her mother tongue, she speaks Spanish and English.

 Darina Dimitrova

Head of Russe, East Bulgarian office

She was born in Dulovo, district of Silistra in 1967. She has a Masters degree in Engineering and Computing technology from the Ruse University, 1990 and the specialization in Financial Management from the Svishtov Academy of Economics. Between 1997 and 2001 she worked as the Manager Marketing and Advertising - furniture producer 'Eurodom'; then as of April 2002 and up to 2006 she became the District Manager 'Eurocapital Bitex' (BITEX.COM), a company-member of the EuroCapital Group. In 2006 she was promoted in managing the Agricultural investments of EuroCapital and the Arceland's NE Bulgarian activities. She speaks her mother tongue Bulgarian, English, Romanian and Russian.

 Victor Dimitrov

Associate, Russe, East Bulgarian office

He was born in 1961 in Russe, Bulgaria. He graduated from the technical school for Electricity and in 1987 he acquired a Masters Degree from the Russe University as an Automation Engineer. He had been working for five years as the Head of Department in the Factory for continuous electricity movement and then for two years as Sales Manager - Russia Relations and Procurement Manager in the Factory for Printed Circuit Boards. As of2006 he is with EuroCapital and Arceland operations at the Russe office. Language skills - fluent in Russian and has basic German skills apart of his mother tongue, Bulgarian.

 Desislava Dimitrova

Associate

Mrs Dimitrova is born in Balchik near Varna and is living to Sofia. She has a Master Degree in Accounting from the College of Economics and Administration in Plovdiv, Bulgaria. She joined Arceland in 2009. Prior to this, she worked as office administrator at a Notary Office in Sofia. She is fluent in English.