Report No. 1/2014

08.01.2014 16:01
Appointment of the Members of PKO Bank Polski S.A. Management Board

Legal basis:

Paragraph 5.1.22 of the Regulation of the Minister of Finance dated 19 February 2009 on  current and periodic information published by issuers of securities and on the conditions under which such information may be recognized as being equivalent to information required by the regulations of law of a state which is not a member state

The report:

The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (“PKO Bank Polski S.A.”, “PKO Bank Polski” or the “Bank”) hereby informs that on 8 January 2014 the Supervisory Board adopted resolutions re-appointing:

-       Mr. Zbigniew Jagiełło for the position of the President of the Bank’s Management Board,

-       Mr. Piotr Stanisław Alicki for the position of the Vice - President of the Bank’s Management Board,

-       Mr. Bartosz Drabikowski for the position of the Vice - President of the Bank’s Management Board,

-       Mr. Piotr Mazur for the position of the Vice - President of the Bank’s Management Board

-       Mr. Jarosław Myjak for the position of the Vice - President of the Bank’s Management Board,

-       Mr. Jacek Obłękowski for the position of the Vice - President of the Bank’s Management Board,

-       Mr. Jakub Papierski for the position of the Vice - President of the Bank’s Management Board.

According to the adopted resolutions all above mentioned persons are appointed for the above positions for the joint term of office of the Bank’s Management Board which will commence upon the expiry of the current joint term of office of the Bank’s Management Board.

Below the Bank presents information about appointed members of the Management Board:

Zbigniew Jagiełło

Zbigniew Jagiełło (born in 1964) - the PKO Bank Polski Management Board President since October 2009, with appointment  for a new term in 2011. Prior to this he was the Pioneer Pekao TFI S.A. Management Board President  for nearly nine years.  Also, within the global structure of Pioneer Investments he was responsible for the CEE region distribution. In the late 1990s he was, among others, active in establishing PKO/Credit Suisse TFI S.A. investment funds company, in the function of its first Vice-President.

In his more than ten-year long career in the financial markets he can be credited, among other things, with:

  • Successfully steering PKO Bank Polski through the critical period of turmoil in the international financial markets, while strengthening the Bank’s position of leadership in terms of assets, equity funds and earnings in Poland and the CEE region;
  • Development and implementation of the PKO Bank Polski’s strategy for the years 2010-2012, which resulted in strong efficiency gains as measured in terms of ROE, ROA and C/I ratio as well as in increased interest in the company among  domestic and international investors (PKO Bank Polski continues to lead the market in terms of the value of its free float and as a major corporate debt issuer );
  • Adjustment of PKO Bank Polski to the requirements of the ever more competitive financial market through increased attractiveness of its product offer and quality of its customer service;
  • Refocusing of the PKO Bank Polski Group’s operational model toward its core activity of providing financial services.

Zbigniew Jagiełło is actively involved in development and promotion of the most demanding financial market standards in Poland. He is a member of the Council of the Polish Bank Association and of the prestigious Institut International D’Etudes Bancaires, which brings together the international banking community. His previous functions included, among others, that of the Chairman of the Chamber of Fund and Asset Management.

A graduate of the Wrocław Technical University, School of Computer Science and Management, he also completed Postgraduate Management Studies at the Gdańsk Foundation for Management Development and the University of Gdańsk, with Executive MBA certified by the Rotterdam School of Management, Erasmus University.

The President of the Republic of Poland decorated him with the Officer's Cross of the Order of the Rebirth of Poland and he was awarded the Social Solidarity Medal for promoting the idea of corporate social responsibility. His is the Deputy Chairman of the Programme Council of the PKO Bank Polski Foundation, an entity formed at his initiative in the year 2010.

Chosen the CEO of the Year 2011 by Parkiet daily; the recipient of the Wektor 2011 granted by the Polish Employers’ Chapter and of the Golden Banker in the Personality of the Year 2011 category; he was also lauded the Manager of the Year 2011 in a competition ran by Gazeta Bankowa. In the year 2012, Bloomberg Businessweek Polska singled him out as on e of the Top 20 Managers in Crisis.

In 2013 Zbigniew Jagiełło was honoured by Bank monthly with the title of „The Innovator of Banking Sector 2012”, as well as he received the title of “Visionary and Man of the Year” from Brief monthly and Dziennik Gazeta Prawna daily in appreciation of his contribution to financial sector development, consequence in strengthening Bank`s market leader position and determination in changing its image.

Piotr Stanisław Alicki

Piotr Alicki (born in 1964) is a graduate of the Mathematics and Physics Department of the Adam Mickiewicz University in Poznan. He has a longstanding and extensive experience in management of  banking system IT projects.

In the years 1990-98 with the IT Department of Pomorski Bank Kredytowy SA in Szczecin, he was its Director from 1997, with responsibilities spanning design, development, implementation and operational oversight of all the bank's transaction systems. In the years 1999 to 2010 he continued his career with Bank Pekao SA: initially as the Assistant Head and subsequently the Head of the IT Systems Maintenance and Development Department; and ultimately for four years and the Head of the bank's Information Technology Division. His key achievements there included, among others: integration of the IT systems of four banks (Pekao, PBKS, BDK and PBG); implementation of the bank's Integrated Information System and management of its IT based business analysis; and management of IT systems integration and migration of data from the BPH to the Pekao bank systems, including participation in the working group responsible for the design and preparation of the entire integration process.

In the years 1999-2010 Piotr Alicki took active part in the work of the Polish Banks Association as a member of its Steering Committee for the Development of Bank Infrastructure, Payments System Committee, Issues Committee for Banking and Bank Financial Services, and its Electronic Banking Council. Since the year 2000 he has been a member of the Supervisory Council of the Polish National Clearing Chamber (Krajowa Izba Rozliczeniowa SA), and its Chairman in the years 2005-10. He is also a member of the Payments System Council working under the auspices of the National Bank of Poland, where in the years 2002-10 he represented  Bank Pekao SA and since 2010 represents PKO Bank Polski. He also sat on a number of supervisory boards of the Bank Pekao SA Group companies.

He has been awarded the National Bank of Poland President's honorary distinction for Merits to Polish Banking; and won the titles of the IT Sector Leader 1997, IT Sector Leader 2010 and the IT Sector Leader 2012. On 10 December 2010 he was appointed a member of the Supervisory Board of Inteligo Financial Services S.A. while since 30 May 2011 has been the Deputy Chairman of that body. Also, since 11 October 2011 he has been the Chairman of the Electronic Banking Council of the Polish Banks Association.

Since 1 May 2011 is the member of the Board of Directors of Visa Europe Limited, where he represents PKO Bank Polski and other Polish banks as well as banks of seven other states of Visa's Subregion 5.

Since 2 November 2010 Mr. Piotr Stanisław Alicki has been the Vice-President of the Bank’s Management Board in charge of IT and services.

Bartosz Drabikowski

Bartosz Drabikowski (born in 1970) has been Vice President of the Management Board and Chief Financial Officer of PKO Bank Polski SA since May 20, 2008 and is in charge of Finance and Accounting. Bartosz Drabikowski graduated from the Technical University of Łódź, the Polish National School of Public Administration, Warsaw School of Economics, the Polish Institute of International Affairs and the Executive MBA Programme at the University of Illinois at Urbana - Champaign. He attended numerous academic trainings: at Deutsche Bank, Deutsche Börse AG, Deutsche Ausgleichsbank and Rheinische Hypothekenbank. He received scholarship from the German Marshall Fund of the United States and participated in many trainings organised by the European Commission and the International Monetary Fund among others.

He started his professional career at the Ministry of Finance, where he was responsible among others for regulation of and supervision over financial market institutions, the banking sector and the capital market in the particular. He also prepared development strategies for the financial services sector both for Poland and the European Union common market. At the Ministry of Finance he was subsequently employed as Advisor to the Minister, Deputy Director and Financial Institutions Department Director.

In the years 2006-2008 he served as Member of the Management Board of the National Clearing House, where he was responsible for finance, new electronic payment products, security and risk management as well as analysis and administration.

For several years he served as member of the Commission for Banking Supervision, member of the Polish Securities and Exchange Commission and deputy member of the Payment System Board at the National Bank of Poland. He also served as member of many institutions of the European Union, including the Financial Services Committee (European Council), the European Banking Committee and the European Securities Committee (European Commission).
He has a wealth of experience in managing financial institutions. He served as member of the Supervisory Board of the National Depository for Securities, member of the Bank Guarantee Fund Council and member of the Supervisory Board of the Polish Security Printing Works. Currently he acts as Chairman of the Supervisory Board of Inteligo Financial Services S.A. and Chairman of the Supervisory Board of Polish Association of Stock Exchange Issuers.

Piotr Mazur

Piotr Mazur (born in 1966) has been the Vice President of the Management Board of PKO Bank Polski responsible for risk and debt collection since The Polish Financial Supervision Authority`s consent given on January 8th 2013. Graduated from Academy of Economics in Wrocław, on the Faculty of Management and Computer Science, specialization of Organization and Management. He has over twenty-year-long experience in banking area, including 14 years on managerial positions – mainly in risk, restructuring and credit area. He is experienced in the work in the international financial groups operating in Europe, USA and South America. The member of supervisory boards, committees of creditors, member and a president of crucial credit risk committees. He was involved in building the strategy of BZ WBK bank, he was directly responsible for credit risk management, optimization of debt collection and restructuring, he cooperated with supervision authorities in Poland and abroad.

After studies he started his professional career in credit area at Bank BPH. Since 1992 associated with the Bank Zachodni SA and next - after the merger – with the Bank Zachodni WBK SA he worked in Capital Investments Department, next as a Director of Credit Quality Controlling Department. In the years 2005–2008 he was the Director of Business Intelligence and Risk Management Area, and in the years 2008–2010 was the Deputy Chief Risk Officer. Since January 2011 he was the Chief Credit Officer and since march 2012 also Deputy Chief Risk Officer. He was the President of Credit Committee in BZ WBK. He was also the Deputy President of Credit Risk Forum and Deputy President of Risk Model Forum.

Jarosław Myjak

Jarosław Myjak (born in 1955) earned the degree of Master of Arts at the Faculty of English Philology (American Studies) (1978) and at the Faculty of Law and Administration (1981) at Adam Mickiewicz University in Poznań. Moreover, he studied at the Faculty of Economy at Toronto University (economic programme - 1976-1977).

He is a graduate also, for instance, of Columbia Business School New York (Leadership for the Future), INSEAD/CEDEP Fontainebleau, France - General Management Programme (1998-1999), Sundridge Park, Great Britain - Management Development Programme.

He completed a judge training programme at the Regional Court in Poznań.
He is barrister and legal adviser, a member of the Warsaw Bar Council and the Warsaw Chamber of Legal Advisers.

He worked as a legal adviser for law offices Altheimer & Gray and Dewey & LeBoeuf, where he participated in privatisation and restructuring proceedings, investment and insurance consulting, while representing both the State Treasury and foreign investors.
Moreover, he was also a lecturer at the Faculty of Law and Administration at Adam Mickiewicz University in Poznań.

Being one of the leaders and strategists of the Polish market of insurance and long-term savings, he was responsible for establishing and developing one of the biggest financial services groups - Commercial Union (now Aviva) in Poland and Lithuania and establishment (in 1998-2004) a cooperation model of CU Group with bank WBK SA, later BZWBK SA that included capital and distribution participation of the Bank in CU Insurance Companies and the pension fund company, and bancassurance development.

In order to enhance the offer for customers, being among pioneers who promoted the pension reform in Poland, he was responsible for the strategic vision, founding and market success of PTE Commercial Union BPH WBK, that became the market leader.

His strategy of defending customer portfolio, ensuring appropriate services for customers and attracting new market segments resulted in an establishment of asset management company, investment fund company, sector of personal - property insurance, a transfer agent and a distribution company.

While managing the financial group, he restructured it through introducing full holding management that used synergy effects.

He participated in the merger of Commercial Union and Norwich Union (CU Europe).

In 2000-2004 the President of Commercial Union Group (now AVIVA) in Poland and Lithuania.
In Commercial Union Polska Ubezpieczenia na Życie he was a member of the Management Board (1995), first Vice President of the Management Board (1996 - 1997) and then the President of the Management Board (1998 - 2004).

He has 20 years of experience in shareholder supervision. In 1998-2004 he was also the chairperson of the Supervisory Councils of Commercial Union companies in Poland and Lithuania, that is CU PTE, CU TFI, CU Ogólne, CU Asset Management, CU Sp. z o.o. (Transfer Agent) and CU Lithuania (Lietuvos Draudimas).

Moreover, he served as a member of the Supervisory Council and the Strategic Committee of Citibank Handlowy SA, the Supervisory Council and the Steering Committee of BGŻ SA, he was responsible - on behalf of the Ministry of the State Treasury - for the bank's privatisation project and he was a member of the Supervisory Council of Polski Holding Farmaceutyczny SA, President of the Supervisory Board of PKO BP Finat Sp z o.o. and Vice President of the Supervisory Board of PZU Życie SA.

At the moment he is the President of the Supervisory Boards of Bankowy Fundusz Leasingowy SA and PKO BP Faktoring SA.

In 2006 and from 2008 he has served as the Vice President of the Management Board of PKO BP Bank in charge of corporate banking.

For a few terms of office Mr Jarosław Myjak was a member of the Polish Business Roundtable, the vice president and member of the Management Board of the Polish Chamber of Insurance, the vice president of the Polish Confederation of Private Employers "Lewiatan"", president of the Association of Insurance Capital Group in the Polish Confederation of Private Employers "Lewiatan" and a member of the Association of Managers in Poland.
As a member of such industry associations as the Polish Chamber of Insurance and the Polish Confederation of Private Employers "Lewiatan" he participated in the works of parliamentary committees aimed at amending the insurance law and working out the law on pension funds, investment funds and in the health system reform project teams supporting the Minister of Health, Minister of Labour and Minister of Economy.

Manager of the Year 2002, he was granted the award "For Contribution to the Polish Insurance Market" and "Golden Cross of Merit of the Republic of Poland".

Since 15 December 2008 Mr. Jarosław Myjak has been the Vice-President of the Bank’s Management Board in charge of Corporate Market.

Jacek Obłękowski

Jacek Obłękowski (born in 1965) is a graduate of the Higher School of Pedagogy (Wyższa Szkoła Pedagogiczna) in Olsztyn, speciality - history and diplomacy. He completed broker course. He is also graduated from the University of Navara - AMP. He started his professional career at Powszechny Bank Gospodarczy S.A. in 1991, where he worked until 1998, initially as a trainee and, following several promotions, as a director of the Network Management Department.

In September 1998, he started working at the PKO Bank Polski as director of the Retail Banking Division, director of the Marketing and Sales Department, acting director of the Office for Servicing Compensation Payments and managing director of the Network Division. Between December 2000 and June 2002, he acted as the director responsible for supervision of the business aspects of implementing the central IT platform at the Bank.

Until 2004 was the President of the supervisory board of KredytBank Ukraina. From 2013 – Vice-President of the supervisory board of KREDOBANK SA. From 2002 to 2007 was a Vice-President of the Bank's Management Board responsible for the retail market area and marketing. At this time he was a Chairman of the Bank's Credit Committee, the Member of the Council of Directors of VISA EUROPE and was responsible for the acquisition of Inteligo.

From 2007 was the President of the Management Board of Dominet Bank SA and from 2009 to 2011, after merger, in BNP Paribas/Fortis Bank Polska SA was at the position of Vice-President of the Management Board responsible for the Division of Servicing Small Enterprises and Individual Clients.

Since 30 June 2011 Mr. Jacek Obłękowski has been the Vice-President of the Bank’s Management Board in charge of Retail Market.

Jakub Papierski

Jakub Papierski (born in 1972) is a graduate of Warsaw School of Economics and a holder of a Chartered Financial Analyst (CFA) license.

He commenced his professional career in 1993 in Pro-Invest International, a consulting company. Between 1995 and 1996, he worked for ProCapital Brokerage House and subsequently for Creditanstalt Investment Bank. In March 1996, he started working for Deutsche Morgan Grenfell/Deutsche Bank Research dealing with the banking sector in Central and Eastern Europe.

Between November 2001 and September 2003, he worked for Bank Pekao S.A. as executive Director of the Financial Division, directly supervising financial and fiscal policy of the bank, managerial information systems, as well as the treasury and management of investment portfolios; moreover, he was a member of the Asset and Liability Management Committee in the Bank. He accepted the position of the president of the Management Board for Centralny Dom Maklerski Pekao S.A. in October 2003. In September 2006, he also took up the position of a deputy-chairman of the Supervisory Board of Pioneer Pekao TFI S.A. From May 2009, Mr. Papierski served as the president of the Management Board of Allianz Bank Polska S.A. and in October 2009 he became the Board's president. Since June 2011 he has been the Vice-President Bank Pocztowy SA Supervisory Board.

Between 2005 and 2006, Jakub Papierski was a deputy chairman in the Programme Council of Akademia Liderów Rynku Kapitałowego established at the Lesław Paga Foundation; and then he was a member of the Programme Council.

Since 22 March 2010 Mr. Jakub Papierski has been the Vice-President of the Bank’s Management Board in charge of Investment Banking.

The Bank Polski informs that:

Mr. Zbigniew Jagiełło, Mr. Piotr Stanisław Alicki, Mr. Bartosz Drabikowski, Mr. Piotr Mazur, Mr. Jarosław Myjak, Mr. Jacek Obłękowski and Mr. Jakub Papierski do not conduct any business outside of PKO Bank Polski S.A. competitive to the business of PKO Bank Polski S.A. None of the re-appointed Members of the Bank’s Management Board participates in any business competitive in respect of PKO Bank Polski S.A. as a partner in a partnership. None of the re-appointed Members of the Bank’s Management Board is a member of a governing body of a company competing with PKO Bank Polski S.A. except Mr. Jakub Papierski who is the Vice-President of the Bank Pocztowy SA Supervisory Board. None of the re-appointed Members of the Bank’s Management Board is a member of any legal person competing with PKO Bank Polski S.A. other that referred to in the foregoing sentence. None of the re-appointed Members of the Bank’s Management Board is registered in the Register of Insolvent Debtors.

Contact for Investors

Dariusz Choryło

Director of Investor Relations
dariusz.chorylo@pkobp.pl

Investor Relations Department
ir@pkobp.pl