← Polish Development Fund Group (PFR Group)

Paweł Borys

President of the Management Board

Polish economist and manager, specialising in banking, capital market and economic policy.

Polish economist and manager, specialising in banking, capital market and economic policy.


Graduate of the Faculty of Finance and Banking of the Warsaw School of Economics, specialising in international financial markets.

He complements his professional work with theoretical research in the field of finance, banking and economics. Between 2001 and 2005, an employee of the Warsaw School of Economics, where he conducted research on the theory of economic convergence and the relationship between the financial sector and economic development. Author of a number of publications and press articles on banking, investment, capital market and economy. He is authorized to sit on the supervisory boards of State Treasury companies.

Professional work

He specialises in investments, management, macroeconomic analysis, strategic and financial planning and corporate restructuring. He has managed large teams and complex projects involving the creation and implementation of development strategies for companies and financial institutions.
He started his work in 2000 as chief economist at Erste Bank Group in Poland. He dealt with macroeconomic forecasts for the Polish economy and analyses of financial markets. He successfully completed the project of introducing an IT company to the Warsaw Stock Exchange.
Since 2001, he has been head of the Analysis Department, fund manager, and then the director of the Investments Department at Deutsche Bank Group – Deutsche Asset Management and at DWS – the second largest asset management company in the world. The creator of Poland's first fund for small and medium-sized companies DWS TOP25 and the first external index on the Warsaw Stock Exchange. He managed pension programmes for leading Polish financial institutions such as the National Bank of Poland and the Warsaw Stock Exchange. He has twice been awarded for the best investment results of funds on the Polish market.

From August 2005 to April 2010 he co-founded a Polish company specialising in private equity and venture capital investments, acting as Vice President of the investment and advisory company AKJ Capital S.A. and President of the Board of AKJ Investment TFI. He completed 8 investments in companies at various stages of development, including a comprehensive restructuring of the logistics company Grupa Pekaes S.A., listed on the Warsaw Stock Exchange, and an investment in the IT company CUBE CR S.A. (currently CUBE ITG S.A., listed on the Warsaw Stock Exchange) and implemented a new development strategy for SAD Sp. z o.o., a representative of Apple Inc. in Poland.

From May 2010 to April 2016 – Managing Director at PKO Bank Polski S.A., responsible for economic analysis, strategy and development of the capital group and investor relations. He participated in the development and implementation of two development strategies of PKO BP S.A., as a result of which he significantly strengthened its position as the leader of the banking market in Poland (by nearly 3 percentage points), modernised its operating standards and image, implemented leading technological solutions in the area of payments and electronic banking and put the capital group in order. He conducted, among others, the successful restructuring process of Kredobank in Ukraine, implementation of the strategic alliance between the American payment company EVO Payments International and eService S.A., the acquisition and integration of Nordea Bank Polska S.A., implementation of a new model of insurance sales in PKO BP S.A., including through the establishment of an insurance company, and the creation of a new organisation of economic and market analyses in the bank. A member of the Asset and Liability Management Committee. He coordinated the process of restructuring and launching of the largest Polish energy investments in Opole, Jaworzno and Kozienice.

From 1 May 2016, President of the Management Board of the Polish Development Fund. Chairman of the Supervisory Board of Bank Gospodarstwa Krajowego.

He has extensive contacts with international investors and financial institutions and extensive corporate experience gained while working on 18 supervisory boards of companies in Poland and abroad, including three banks, an insurance company and TFI.

Previously a member of the Warsaw Stock Exchange Index Committee and a member of the Go Global Programme Board. In 2013 he was recognised as one of the best Polish managers under 40 (according to Sukces magazine).

Private life

Married, the father of three children. He is the son of Prof. Tadeusz Borys, a Polish economist specialising in statistics, quality and sustainability theory, and Prof. Grażyna Borys, scientifically engaged in banking and accounting.

Warunki RODO

Warunki RODO