XTB Appoints Jan Byrski as Chairman of the Supervisory of the Board

Poland-based X-Trade Brokers, better known as XTB, announced on Monday that it has appointed Jan Byrski as Chairman of the Supervisory Board, starting today until November 19, 2024.

According to the press release, Byrski comes from a background in Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term law, including Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term, banking and insurance markets, together with legal aspects of information protection like personal data and business secrets. Also, he has experience conducting proceedings before the President of the National Bank of Poland, the Chairman of the Polish Financial Supervision Authority and the President of the Office of Competition and Consumer Protection.

Byrski holds a first degree at the Faculty of Law and Administration of the Jagiellonian University, and he is a legal expert of the Polish Insurance Association (PIU) and the Foundation for Development of Non-Cash Transactions (FROB).

“In accordance with the representation submitted, the supervisor mentioned above is not engaged in any activities competitive to the business of the Company, does not participate in any competitive company as a partner in a partnership or civil law partnership or as a member of its authority and does not participate in any other competitive legal person as a member of its authority, and has not been entered in the Register of Insolvent Debtors kept pursuant to the Act on the State Register of Companies,” XTB clarified in the statement.

Recent XTB Financial Results

After the announcement, the other Supervisory Board’s members are Jakub Leonkiewicz, Łukasz Baszczyński, Bartosz Zabłocki and Grzegorz Grabowicz.

Recently, the company released its preliminary financial and operating results for the third quarter of the year, noting a strong consolidated net profit in the period. XTB netted PLN 101.5 million compared to PLN 68.4 million in the same period last year. Furthermore, its operating expenses accounted for PLN 84.8 million, which is an increase from the third-quarter figure in 2020 of PLN 60.1 million.