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Pekao comes out on top from epic amalgamation

Jan Cienski reports from Warsaw on the complex, drawn-out merger of Pekao SA and BPH – an alliance that has created the largest bank in Poland.
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Jan Krzysztof Bielecki stands atop the largest bank in Poland and central Europe, a journey as improbable as his unexpected ascension to become Poland’s prime minister 17 years ago at the age of 39.

Mr Bielecki led his bank, Pekao SA, through the most complicated merger in Polish banking history, a process he likened to a “madhouse” thanks to the determined opposition of the Polish government of the day.

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