One of the largest stock exchanges in Central and Eastern Europe, the Polish based Warsaw Stock Exchange (WSE), announced yesterday Karol Półtorak’s resignation from the Vice President position of its Management Board. On the same day, Paweł Dziekoński was appointed on his place.
Mr. Półtorak has served as the right hand of the WSE President from September 9, 2014. The official statement issued by the Polish borse does not specify why the ex-executive decided to make such a step. Before taking the position on the local stock exchange, he held the position of Vice President of Citi’s polish branch for 3 years, and was previously associated with UniCredit CA IB Poland for 11 years.
His successor, Paweł Dziekoński, until now worked as an executive director at Deutsche Bank Poland SA, where he was responsible for credit products, retail clients and Mid-Cap financial instrument products units. During his fourteen-year career, he also held the role of manager and then director of Deloite as a head of financial services team.
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According to the official statement published by the WSE, Mr. Dziekoński was additionally an adviser on important market projects for the local financial industry in cooperation with the National Bank of Poland (NBP) and the Financial Supervision Authority (KNF).
These are not the only changes in Polish stock managerial positions recently. Finance Magnates announced earlier this year that Małgorzata Zaleska was elected as the new President of the WSE Management Board. She replaced Paweł Tamborski, who announced his resignation in mid-December 2015. The decision happened just a month after the parliamentary election in the country which after eight years was won by opposition party Law and Justice.
Despite the turmoil in executive positions and on the political scene, Polish WSE reported really good financial results. In 2015 the borse achieved record-high revenues and net profit growth of +10% year-over-year, which amounted to 123.7 million Polish Złotys (EUR 28 million).