The staff circle started again.  Who will get Picao?

The rest of the article is below the video

See also: From a plumber's assistant to holding the tallest building in Europe – Marcin Ziobaga in business class

Recolonization of Bikau

The wholly state-owned political finance watchdog holds 12.8 percent. Shares in Bicao. However, in the insurance company supervised by the Ministry of State Assets, shareholder Picao, the state treasury owns 34.2%. Involved. Thanks to this, the state controls Bikau indirectly. The bank returned to Polish hands during the United Right government, when in 2017, through PZU and PFR, a controlling stake in Pekao was purchased from the Italian UniCredit – 32.8 percent. – For 10.6 billion Polish zlotys.

The Italians did not care much about developing Picao. Although it was digitally backward in Polish hands, and politics under the United Right trumped the Bank's mandate, it managed to bring it to the Polish forefront.

Since the acquisition, the bank has made significant progress, with significant improvement in its product offering and mobile app development. The leap that PKO has made in these few years is comparable to the progress PKO BP has achieved in the past. I see change not only as an analyst, but also as a client. Pekao is not just a huge state bank, it is on par with other leading Polish banks – says money.pl Łukasz Jańczak, analyst at Erste Securities.

Relative calm in management, consistent implementation of the strategy, high interest rates, and a small share of loans in Swiss francs in the bank's portfolio. All of this had a positive impact on the bank’s results, which was reflected in the stock market price.

According to the analyst, the bank took advantage of market opportunities and despite the risk that companies contributing to the state treasury would not be able to keep up with the leading companies in their sector, Bikao performed very well in the market.

Scheme for: PEO

Pekao also handled the forced acquisition of Idea Bank well. On the one hand, he bowed to the regulator and the market on the other Make money on this acquisition. Our interlocutor adds that Pekao's shareholders have not lost anything in this acquisition.

Immediately after the recolonization of the bank in 2017, he became president of Bikao Bank Michel Krupinski. He ran the bank for less than two and a half years, then replaced it for about five months Marek Lustin (Currently Vice President of mBank). He is the longest-serving president and governor of the United Right Leszek SkibaFormer Deputy Minister of Finance who joined PICAW on April 20, 2020.

The question is who will replace Leszek Skiba and when.

Political succession

Unofficially, we hear that before the European elections that will be held on the ninth of next June. It is unlikely that a new board of directors will be elected By the newly appointed Supervisory Board, which will begin its three-year term on April 18.

There is no shortage of people interested in the ruling coalition, as we describe here.

Tension in the government is increasing. To ensure peace, Prime Minister Donald Tusk must appease his coalition partners. Some will get a ticket to Brussels, others will get seats in the reconstituted government, and still others will get companies.

Companies are treated like other ministries. This was evident during the rule of the United Right. Whoever got fewer departments in the government got a company as a reward. This is what it looks like – says the interlocutor of money.pl, who requested anonymity.

It is difficult to say who will get Pikau today. Our sources say that in this particular case there may be no competition, which is theoretically possible.

The competitions were supposed to concern companies in which the state treasury contributes, and as we explained previously, From an official point of view, Pekau is not one of them.

It is not known what the Supervisory Board, which is responsible for who entrusts the bank, will say in this regard. She will be asked about the position on Thursday, when her term begins.

Name exchange

Until recently, behind-the-scenes talks were taking place regarding the future president of Bikau Most of the talk was about Jacob Baberski, a director currently associated with consulting firm EY. Previously, he worked for many years at PKO BP, where he was considered the right-hand man of former president Zbigniew Gagiolo.

Baberski left the bank in the fall of 2021. A few months earlier, in May, Yagiello left the bank. Before joining the Board of Directors of PKO BP, in 2001-2009, Baberski was associated with Pekao Bank.

More names also emerged in the final stretch. Cezary Stepolkovski, current head of mBank, held informal talks for a weekWho ran PZU in the past. He joined the insurance company during the SLD era, and left after coming to power Law and Justice Party Th 2005 p.

Furthermore, there is also mention of Jakub Karnovsky, who wanted to become rector of PZU. According to information from the Puls Biznesu website, he did not participate in the competition because he did not meet the official conditions. In the years 2012-2015, Karnovsky was Chairman of the Kurdistan Workers' Party, and was previously an advisor to Lezek Balčerovic – the first in Ministry of Financeand later in the Polish National Bank.

Karolina Wisota, journalist at money.pl

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