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 had appointed Jan Byrski as Chairman of the Supervisory Board, starting today to November 19, 2024.

According to the press release, Byrski comes from a background in fintech law, including payments, 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’s 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 of the 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. Also, its operating expenses accounted for PLN 84.8 million, which is up from the 2020 third quarter’s figure of PLN 60.1 million.

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