GPW Management Board
Marek DIETL - President of the Management Board of the Warsaw Stock Exchange
Dr. Marek Dietl is the CEO of GPW (Warsaw Stock Exchange) and the economic adviser to the President of Poland. He has spent almost 20 years in the consulting and venture capital industries. He collected experience as a non-executive board member of more than 25 organizations.
Marek Dietl frequently undertakes community and academic activities. He used to serve as a mediator at the arbitration court of the Financial Supervision Commission and adviser to the President of Energy Regulation Office. Marek Dietl is also an assistant professor at the SGH-Warsaw School of Economics.
Piotr BOROWSKI - Member of the Management Board of the Warsaw Stock Exchange, responsible for operations and regulation, Chief Operating Officer (COO)
Piotr Borowski holds a degree from the University of Economics in Poznań, a post-graduate degree in Corporate Finance and Taxation from the Warsaw School of Economics, and a securities broker’s licence.
He has worked in the Polish capital market and with the Warsaw Stock Exchange throughout his professional career, initially as an exchange broker, and between 1991-2006, in numerous management positions at banks and brokerage houses in management positions.
Between 1993-2006, he was at Kredyt Bank S.A. and KBC N.V. Group as Investment Director of Dom Maklerski Kredyt Banku S.A., Deputy General Director of KBC Securities N.V. Branch in Poland and Financial Markets Auditor with KBC N.V. in Brussels. Between 1997-2007, Piotr was Member of the Management Board of the Chamber of Brokerage Houses (IDM).
Since 2007, he with at the Warsaw Stock Exchange as Director for Development and Regional Co-operation, Investor Relations and Research, Cash Market Development and GPW representative at the Management Committee of the Federation of European Securities Exchanges (FESE) in Brussels.
Between 2017 -2018, Piotr was a consultant focusing on investor relations and capital markets including, and in affiliation with the UK consultancy BTA Consulting Ltd as a consultant in capital market development projects.
Dariusz KUŁAKOWSKI - Member of the Management Board of the Warsaw Stock Exchange, Chief Information Officer (CIO)
Dariusz Kułakowski graduated from the Warsaw School of Economics and completed a post-graduate course at the University of Banking and Insurance and the Warsaw University of Technology.
He is an ITIL Expert certified by EXIN (Examination Institute for Information Science).
Since 25 July 2014, Vice-President of the Warsaw Stock Exchange responsible for IT (CIO).
From September 2013 to July 2014, Member of the Exchange Management Board.
In 2006-2013, General Director for Technology responsible for direct oversight of the organisation and operation of the WSE’s IT Department, proper operation of the Exchange’s IT systems, as well as management of the UTP implementation project.
He also worked with the Exchange in 1993-2001: as Exchange System Section Head (until 1999) and later Deputy Director of the IT Department (until 2001). In 2003-2006, he was the President’s Plenipotentiary for IT at the Social Security Institution (ZUS) and at the same time Director of the Information Supply Department and Technical Co-ordinator of Comprehensive IT System Project.
In 2001-2003, he worked with PZU S.A. as Director of the IT Integration Bureau.
Since May 2016, Member of the WIBID and WIBOR Reference Rates Board, and from January to June 2018, Member of the Supervisory Board of WSE Benchmark S.A.
Awarded the Silver Cross of Merit for building the capital market in Poland.
Izabela OLSZEWSKA - Member of the Management Board of the Warsaw Stock Exchange, responsible for business and sales development, Chief Sales Officer (CSO)
Izabela Olszewska holds a degree from the Department of Finance and Statistics, Warsaw School of Economics, and Doctoral Studies from the Department of Economic Sciences, University of Warsaw. She holds an MBA from the University of Economics and Human Sciences in Warsaw. She attended the International Institute for Securities Market Development programme offered by the US Securities and Exchange Commission in Washington, D.C.
She has worked on the capital market since 1992, initially as analyst at Bank Handlowy’s Capital Operations Centre and since 1999 with the Warsaw Stock Exchange (GPW). Izabela has held a number of business and sales management functions at GPW, working with investors and companies, both local and international, and was responsible for the development of the product offering of the regulated and alternative markets. Previous to her Board appointment, she was Managing Director for Market Development.
Izabela has been Chair of the Supervisory Board of Towarowa Giełda Energii (Polish Power Exchange) since July 2019, and was Member of the Supervisory Board of Bondspot from October 2015 to June 2019.
Previously, she a Member of the Board of Directors of Aquis Exchange, London. She is Member of the Advisory Board of Krajowy Depozyt Papierów Wartościowych (Central Securities Depository of Poland).
Supervisory Board as of 22.06.2020
Dominik KACZMARSKI - President of the Exchange Supervisory Board
Dominik Kaczmarski holds an MA in Law from the Department of Law and Administration, University of Warsaw. He is a licensed tax advisor. He gained professional experience as a financial industry taxation expert with leading international consultancies (PwC 2012-2014, Deloitte 2014-2016). From February 2016 to January 2020, Deputy Director of the Sectoral & Local Taxation and Gambling Tax Department and Deputy Director and later Director of the Tax System Department of the Ministry of Finance.
He worked on the crime-proofing of the CIT and VAT system and on the tax aspects of the Capital Market Development Strategy. He was Secretary to the Board for Prevention of Tax Avoidance, Member of the Tax Advisor Examination Panel, Member of the Codification Committee of General Tax Law. Currently Member of the Expert Group for Corporation Law of the Supervision Ownership Reform Committee.
Dominik Kaczmarski has published many papers on taxation. Since March 2020, Member of the Supervisory Board of PKN Orlen S.A. Currently, Director of the Analysis & Reporting Department, Ministry of State Assets.
Michał BAŁABANOW - Secretary of the Exchange Supervisory Board
He holds a degree from the Department of Law and Administration, University of Warsaw. Legal Counsel entered into the Register of Legal Counsels of the Regional Chamber of Legal Counsels in Warsaw.
In 2004-2007 with the law firm Prof. Marek Wierzbowski & Partners. From November 2017 to the end of 2018, Lawyer with UniCredit CAIB Poland S.A. Judge of the Exchange Court of the Warsaw Stock Exchange in 2007-2010. Since 2009 with PKO Bank Polski S.A., initially as Legal Advisor to the Director of the Brokerage House, later Director for Transactions and Financial Advisory of the Brokerage House, and since 2019 Deputy Director, Legal Department, PKO Bank Polski S.A. He gained professional experience with J.P. Morgan in London. He has participated in dozens of transactions on Polish and international capital markets. Lecturer of the Post-Graduate Programme in Capital Market Law and Economics, Warsaw School of Economics. He meets the independence criteria referred to in § 14(1) of the Articles of Association of the Warsaw Stock Exchange.
Janusz KRAWCZYK – Member of the Exchange Supervisory Board
Janusz M. Krawczyk holds a degree from the Mechanical Engineering Department of the Kraków University of Technology, where he was a teacher and researcher after graduation. Member of the City Council of Kraków of the first term of office (1990-1994) and Member of the Management Board of Kraków responsible for municipal companies in 1990-1992. He started his career in HR management in international corporations with Coca Cola Poland in 1992 and continued with Pepsi Co. in Poland and in the European head office in Vienna as Regional Director. He was also HR Director of AHOLD Polska. He completed a number of training and internship programmes in HR management and work organization in Poland and abroad (including UK, Japan, France, Sweden, Austria, Belgium). From June 2000, Bank Director with Bank Zachodni; from September 2000, Member of the Management Board of Bank Zachodni and later Bank Zachodni WBK. He served as the Head of Strategic HR Management. In 2012-2013, Advisor to the President of the Management Board on the merger of Bank Zachodni WBK and Kredyt Bank. He has many years of experience as a supervisory board member. He meets the independence criteria referred to in § 14(1) of the
Articles of Association of the Warsaw Stock Exchange.
Filip PASZKE - Member of the Exchange Supervisory Board
He holds a degree in Management and Marketing from the Adam Mickiewicz University of Poznań. In 1999-2012 with Wielkopolski Bank Kredytowy and later with Dom Maklerski BZ WBK where he created the institutional sales section. From 2009, Member of the Management Board of Dom Maklerski BZ WBK responsible for institutional sales, research, and capital market transactions. From January 2013 with Societe Generale Corporate & Investment Banking as Director for Equity Markets responsible for business development in those markets and for customer relations in Poland and CEE. In 2014-2019, Director of Dom Maklerski PKO Banku Polskiego responsible for PKO BP Group’s capital market business including services for institutional and retail investors, research, corporate advisory (ECM, M&A) and proprietary trading. Between 2018 and 2019 he also served as the Director of the Private Banking Center at PKO BP. Since 2017, an independent member of the Supervisory Board of the Warsaw Stock Exchange. He has participated in more than 80 transactions on the Polish capital market throughout his career.
He meets the independence criteria referred to in § 14(1) of the Articles of Association of the Warsaw Stock Exchange.
Adam SZYSZKA - Member of the Exchange Supervisory Board
Professor Dr habil. Adam Szyszka is a Professor of Economics and Finance at the Collegium of World Economy, Warsaw School of Economics. He heads the Financial Markets Interdisciplinary Research Centre. A member of the European Commission’s High-Level Forum on Capital Markets Union. Professor Szyszka was a fellow of the Fulbright Foundation and the Kosciuszko Foundation at Columbia University, New York. He has taken part in seminars and lectured at many leading universities around the world including Harvard Business School, Freie Universitaet in Berlin, Tsinghua University in Beijing, University of Adelaide in Australia. He was a long-time researcher at the Poznań University of Economics and Business.
Professor Szyszka’s areas of academic interest focus on the capital market including both macro- and microeconomics. His macroeconomic research focuses on the position and role of the capital market in the economy and the relationship between the financial sector and the real economy. His microeconomic interests include the efficiency of securities exchanges, behavioural finance and psychological impact on behaviours of market participants and asset valuation. He has published more than 80 research publications including monographs published in the USA by leading publishers such as Palgrave Macmillan and Wiley & Sons, as well as many papers in international science periodicals.
Professor Szyszka has experience on the supervisory boards of large companies, including listed companies. He has been an expert of the Polish-American Fulbright Commission, the National Science Centre, the Think Forward Initiative. He has recently been invited to join the expert team of the European Commission’s High-Level Forum on Capital Markets Union. He has worked for many years with GPW as the author of training curricula and materials and a lecturer of the GPW Exchange School.
Meets independence criteria referred to in § 14 of the Warsaw Stock Exchange Articles of Association.
On March 16, 2021, the Extraordinary General Meeting of GPW appointed Mr. Leszek Skiba to the Exchange Supervisory Board, which the Company announced in Current Report No. 2/2021.
Leszek SKIBA - Member of the Exchange Supervisory Board
Leszek Skiba is President of the Management Board of the Bank Polska Kasa Opieki S.A. from April 2020.
Before, from 2015 he served as Undersecretary of State in the Ministry of Finance, where he was responsible for the supervision over macroeconomic policy and tax legislation. He was also supporting legislative works connected with financial and capital markets, and prepared general outline of the budget system reform. Between March 2019 and April 2020 he served as the President of the Council of the Bank Guarantee Fund.
Between 2009 and 2015 Leszek Skiba worked at the National Bank of Poland, at the Economic Institute, where he worked on NBP’s report devoted to the consequences of Poland’s membership of the euro area and prepared analyses of the euro area economy. Since 2009, Leszek Skiba has been running public non-profit activities as the President of the Council and expert of the Sobieski Institute.
Leszek Skiba is a graduate of the Warsaw School of Economics. He’s the author of numerous publications in the field of his professional work and public activities.
He meets the independence criteria referred to in § 14(1) of the Articles of Association of the Warsaw Stock Exchange.
On June 21, 2021, the Ordinary General Meeting of GPW sismissed Mr. Jakub Modrzejewski and appointed Ms. Izabela Flakiewicz to the Exchange Supervisory Board, which the Company announced in Current Report No. 15/2021.
Izabela Flakiewicz – Member of the Supervisory Board
Izabela Flakiewicz is a capital and financial market regulation expert, manager, and lawyer.
She holds a degree from the Department of Law and Administration, University of Warsaw; the Post-graduate Programme in Business Insurance Law, University of Warsaw; and the Executive Master of Business Administration, Apsley Business School – London and the Warsaw Management University.
She was one of the first certified advisers in the Alternative Trading System (28/2012). A financial market professional since 2007. Experienced official of the Polish Financial Supervision Authority (KNF) from 2007 to 2017, including Deputy Director and Director of the Insurance and Pension Licence Department, and Advisor to the Chairperson of the PFSA.
Since 2018, Chief Compliance Officer at Pocztowe Towarzystwo Ubezpieczeń Wzajemnych and Pocztowe Towarzystwo Ubezpieczeń na Życie SA, which are postal insurers.
Since 2019 to 2021, Member of the Supervisory Board of Izba Rozliczeniowa Giełd Towarowych SA, member of the GPW Group.
She has published texts on financial market regulation. Member of the AIDA Polish Chapter (Association Internationale de Droit des Assurances).
She meets the independence criteria referred to in § 14(1) of the Articles of Association of the Warsaw Stock Exchange.
Supervisory Board Committees
THE STRATEGY COMMITTEE
- Mr Filip Paszke – Chairperson of the Committee
- Mr Michał Bałabanow – Member of the Committee
- Ms Izabela Flakiewicz – Member of the Committee
- Mr Leszek Skiba – Member of the Committee
- Mr Adam Szyszka – Member of the Committee
THE REGULATION AND CORPORATE GOVERNANCE COMMITTEE
- Mr Michał Bałabanow – Member of the Committee
- Ms Izabela Flakiewicz – Member of the Committee
- Mr Dominik Kaczmarski – Member of the Committee
- Mr Filip Paszke – Member of the Committee
THE REMUNERATION AND NOMINATION COMMITTEE
- Mr Janusz Krawczyk – Chairperson of the Committee
- Mr Dominik Kaczmarski – Member of the Committee
- Mr Filip Paszke – Member of the Committee
THE AUDIT COMMITTEE
- Mr Adam Szyszka – Chairperson of the Committee
- Mr Filip Paszke – Member of the Committee
- Mr Leszek Skiba – Member of the Committee