CEO of Capital Strategy, a strategy consulting company in Poland. 1994-2006 he worked in senior managerial positions in financial institutions: PZU, Aviva (formerly Commercial Union) and Bank Handlowy w Warszawie S.A. (CitibankHandlowy). 1989 – 1994 worked in the Polish Ministry of Finance as Director General and Chief Advisor to Deputy Prime Minister and Minister of Finance, and subsequently as Vice-minister. Had a significant role in the economic stabilization and transformation program of the Polish economy (‘Balcerowicz Plan’ 1989-1991). Led the restructuring and privatization of banks (1991-1994), including an innovative program of dealing with bad debts based on a special law on financial restructuring of enterprises and banks. On various occasions he served as a consultant at the World Bank, the International Monetary Fund, as well as, government and commercial institutions in several countries in Central and Eastern Europe, on issues of financial system reforms and bank privatization. He has a M.A. Degree in Mathematics from University of Warsaw (1979). Co-author of the paper: S. Kawalec, E. Pytlarczyk, ‘Controlled Dismantlement of the Eurozone: A Strategy to Save the European Union and the Single European Market’, German Economic Review, February 2013.
Stefan Kawalec
President of the Management Board, Capital Strategy
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