Bielecki gives more power to bank Pekao deputy president

On Friday, the new president of bank Peako, Jan Krzysztof Bielecki, said that the management structure of the institution will change. In this way he confirmed reports in last week's Parkiet that supervision over some of the bank's departments would no longer be the duty of the president, but rather fall under the auspices of the deputy president, namely Luigi Lovagillo. "The changes have been discussed with me, and I like them, as it is not possible for the president to always be on top of all the responsibilities he shoulders," said Bielecki. However, he stressed that the changes, "Are not set in stone and they might evolve in the future. Taking joint decisions during meetings of the management board gives a broader picture of the bank's situation". He added stated that the institution had enough capital to participate in the consolidation of the banking sector, thanks to a 16% solvency ratio, which is twice as much as demanded by Central Bank regulations. (Parkiet, p. 1) M.M.