Tempting threshold

Financial advisory company Xelion wants to have more than zł.500,000 million in assets by the end of the year.

Between December 2004 and March 2006 the assets of Xelion, which is a part of the Unicredit Group, grew from zł.74 million to zł.355 million. Since the end of 2005 its assets grew by 55 percent, from zł.230 million. "We want to surpass zł.500 million in assets this year. It's the minimum," said the company's president, Adam Niewiński. With assets growing by an average of 11 percent every month, the president's prediction looks certain to be fulfilled. "If we maintain this growth rate we will break even in 2008," the president said. In 2005 the company had a net loss of zł.22.9 million.

Among other plans, Xelion wants to hire additional consultants. Currently the company has 160 experts. "We want to increase this number to 250," Niewiński said. The company has outlets in Tri-City, Poznań, Wrocław, Katowice, Kraków and two in Warsaw, but it doesn't intend to focus on expansion. "We might open up one or two new locations, but we do not plan openings on a large scale," he said.