In the spotlight: Wojciech Kostrzewa
During his six years at BRE's helm Kostrzewa has turned the bank around, riding the stormy seas of recession to increase market share from 2.5 percent in 1998 to the current 6.5 percent.
Commenting on his reasons for resignation, Kostrzewa was non-commital: "I want to expand my professional horizons, and that is all I have to say about it for now."
Fellow bankers were more expansive about his successes. Deutche Bank Poland's CEO Krzysztof Kalicki said: "He wasn't afraid to make tough decisions. He worked through times of large profits and through times when he had to create financial reserves. He has a talent for fixing difficult situations. He possesses abilities of long term planning."
Two years ago Kostrzewa initiated a major change of tack as BRE reported losses from reinvestments in the capital market, eventually limiting its involvement in the sector in February 2003. This coincided with the bank's spectacular growth in retail banking with Internet MBank and Multibank, which together obtained 900,000 new customers. During his reign the number of BRE's employees more than doubled from 1,700 to almost 4,000.
Kostrzewa added: "I am leaving while the bank is reporting its best figures in 3 years. However, this may be a moment for the bank to obtain a fresh and slightly different look. This is a natural step in every big institution's existence."
Speculation has it that Kostrzewa may take up a similar position in another bank. However, for the moment, he has other plans that include recharging his batteries with a long vacation and improving his golfing skills.
Commenting on his reasons for resignation, Kostrzewa was non-commital: "I want to expand my professional horizons, and that is all I have to say about it for now."
Fellow bankers were more expansive about his successes. Deutche Bank Poland's CEO Krzysztof Kalicki said: "He wasn't afraid to make tough decisions. He worked through times of large profits and through times when he had to create financial reserves. He has a talent for fixing difficult situations. He possesses abilities of long term planning."
Two years ago Kostrzewa initiated a major change of tack as BRE reported losses from reinvestments in the capital market, eventually limiting its involvement in the sector in February 2003. This coincided with the bank's spectacular growth in retail banking with Internet MBank and Multibank, which together obtained 900,000 new customers. During his reign the number of BRE's employees more than doubled from 1,700 to almost 4,000.
Kostrzewa added: "I am leaving while the bank is reporting its best figures in 3 years. However, this may be a moment for the bank to obtain a fresh and slightly different look. This is a natural step in every big institution's existence."
Speculation has it that Kostrzewa may take up a similar position in another bank. However, for the moment, he has other plans that include recharging his batteries with a long vacation and improving his golfing skills.
