# Bank Pekao S.A./ADR

Bank Pekao S.A./ADR is an Asset Manager based in Warsaw, Poland.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Warsaw, Poland
- **Region:** Europe
- **Address:** Warsaw, Poland
- **Founded:** 1929
- **Assets under management:** Undisclosed
- **Website:** www.pekao.com.pl

## Regulatory record

- **Reports private funds:** No

## About

Bank Pekao was founded in 1929 and is headquartered in Warsaw, Poland. It is one of the country's largest financial institutions, with a history that spans nearly a century. The bank's ownership includes a significant stake held by the Polish state, via entities like PZU, the national insurance group. Strategy and deployment centers on traditional banking services — retail, corporate, and investment banking — alongside asset management and insurance. The bank's asset management arm operates mutual funds and alternative strategies, with a focus on Polish and CEE equities, fixed income, and real estate. It has invested in local infrastructure projects and holds a portfolio of Polish government bonds. The bank maintains a presence across Poland with over 1,000 branches and also offers private banking services for HNW individuals. The firm employs over 15,000 people and operates through subsidiaries in insurance (Pekao Life), leasing, and asset management. Its ADR program, listed in the US, provides foreign investor access. A recent operational event was the bank's appointment of Marek Lusztyn as CFO in 2024. Bank Pekao's structural differentiator is its dual identity as a commercial bank and a vehicle for state-linked capital deployment, with a significant portion of its earnings invested in Polish government securities and infrastructure — blending retail banking with quasi-sovereign investment banking mandates.

## Sectors

- Financial Services
- Banking
- Asset Management
- Insurance

## People

- Leszek Skiba — CEO
- Marek Lusztyn — CFO

## Questions

### How does Bank Pekao invest its assets?

The bank invests across multiple asset classes: Polish government bonds and treasury bills form a large part of its balance sheet. It also extends corporate and retail loans, manages mutual funds, and offers insurance products through its subsidiaries.

### What is the ADR program of Bank Pekao?

Bank Pekao S.A. has an American Depositary Receipt (ADR) program that allows US-based investors to trade shares of the Polish bank on the OTC market. It is not listed on a major US exchange but provides indirect exposure to the bank's equity.

### Does Bank Pekao manage money for third-party clients?

Yes, through its asset management division, which offers mutual funds and discretionary portfolio management. It is one of the largest asset managers in Poland, with a focus on Polish and regional markets.

### What is the geographic focus of Bank Pekao's investments?

The bank's core focus is Poland and the broader Central and Eastern European region. Its lending and investment activities are predominantly domestic, with limited cross-border exposure.

### Is Bank Pekao exposed to any controversial sectors?

The bank has not disclosed explicit exclusions, but its portfolio includes traditional industries such as real estate, manufacturing, and energy, including coal-related sectors given Poland's energy mix. No specific ESG policy is publicly prominent.

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Last updated: 2026-06-03T20:00:00.000Z

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