Company Announcements

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29.11.2019 - Report 32/2019: Resignation of the President of the Management Board of the Bank and appointment of the Vice President of the Management Board of the Bank managing works of the Management Board

Bank Polska Kasa Opieki Spółka Akcyjna (the "Bank") hereby informs that on 29 November 2019 Mr. Michał Krupiński resigned from the position of the President of the Management Board of the Bank and from the composition of the Management Board of the Bank with immediate effect. In the resignation there were no reasons for its submission.

The Supervisory Board of the Bank thanked Mr. Michał Krupiński for his contribution to the development of the Bank.

In addition, on 29 November 2019, the Supervisory Board of the Bank, after assessing suitability, appointed, as of 29 November 2019, Mr. Marek Lusztyn, the current Vice President of the Management Board of the Bank supervising the activities of the Risk Management Division, as the President of the Management Board of the Bank, subject to obtaining consent of the Polish Financial Supervision Authority and upon obtaining such consent. Until the above condition is met, on which the appointment of Mr. Marek Lusztyn as the President of the Management Board of the Bank depends, the Supervisory Board of the Bank entrusted Mr. Marek Lusztyn with managing the work of the Management Board of the Bank.

According to the submitted statement Mr. Marek Lusztyn does not conduct any business competitive to that of the Bank and he is not involved in a competitive business as a shareholder or partner in a civil law company or partnership or a member of a corporate body of a competitive corporation or legal person. According to the submitted statement Mr. Marek Lusztyn is not registered in the Register of Insolvent Debtors kept pursuant to the provisions of the KRS (National Court Register) Act of 20 August 1997.

The curriculum vitae of Mr. Marek Lusztyn containing information specified in § 10 point 4 of the Ordinance of the Minister of Finance of 29 March 29 2018 regarding current and periodic information provided by issuers of securities and conditions for recognizing as equivalent information required by the laws of the state not being a member state, is an attachment to this current report.

Legal basis: § 5 points 4 and  5 of the Finance Minister's Ordinance of 29 March 2018 re. current and periodic reports published by the issuers of securities and the rules under which the information required by the laws of non-member states shall be deemed equivalent. (Journal of Laws 2018, item 757)

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Marek Lusztyn, Ph.D.

Seasoned executive with 23 years of professional experience in the international banking sector, of which last 20 years associated with the Bank Pekao Group.

Since June 2017 Marek has held position of Vice President of the Management Board supervising the Risk Management Division. Additionally, he has been a member of the Supervisory Boards for several subsidiaries of the Bank Pekao Group including Pekao Leasing, Pekao Bank Hipoteczny, Pekao Investment Banking.

Since September 2019 Marek has been a member of the Council of the Warsaw School of Economics ('SGH'), to which he was designed by the Senate of SGH with a recommendation of the SGH Corporate Partners Club formed by leading local and international companies closely cooperating with SGH.

In 2014 Marek was named the Future Leader in Global Finance by the Institute of International Finance, Washington DC.

Before assuming a role of Vice President of the Management Board at the Bank Pekao Group in June 2017, Marek worked within international structures of UniCredit SpA, at the time parent company of Bank Pekao. Marek held senior executive positions in London, Munich and Milan, where he was responsible for global market and traded credit risk management spanning multiple countries of operations for UniCredit Group. Before returning to Poland in June 2017, Marek was also a member of the Executive Committee in charge of risk management for UniCredit Corporate and Investment Banking Markets

Previously, between 2000 and 2008, Marek was Head of Market Risk Trading Book Unit and subsequently Head of Financial Risk Department at Bank Pekao, responsible in this role for Asset Liability Management of the Bank. For 8 years he was also a Member of the Supervisory Board of CDM Pekao S.A, equity brokerage subsidiary of the Bank.

Marek started his professional career at Bank Handlowy w Warszawie S.A as currency and fixed-income trader in Treasury Department.

He holds Ph.D. in Economic from the Warsaw School of Economics, and he is also an alumnus of University of Illinois (Executive MBA) and INSEAD. In 2019 Marek completed an executive program at the Singularity University, Silicon Valley in the area of innovation and new technologies. He also completed numerous courses in the field of banking, finance and management.

He is an author of numerous academic publications in the field of banking.