Change in the post of President of Expander Advisors
Tony Machin has been appointed to fill the position of President of the Management Board of Expander Advisors. After two years in the post, Adam Parfiniewicz resigned as President and Head of Sales.
After two years in the post, Adam Parfiniewicz decided to step down as President and Head of Sales of Expander Advisors. Adam Parfiniewicz joined the Company in 2009, and stabilised its situation, which had been strongly affected by the financial crisis. The major objectives of his mission included driving the company out of the crisis, stabilizing the business, reconstruction of the advisors’ network and putting Expander back on its growth path.
The results of his efforts involved efficient reconstruction of the company’s potential and the revenue recovery back to the level from before the crisis. Meanwhile, Expander managed to reinstate its market share to a very large extent, which it had lost during the financial crisis of 2008-2009. At present, Expander is the second largest financial agent in Poland and the largest independent financial advisor recording some of the highest growth figures in its sector; many times the company has also been awarded for the highest standard of the customer service quality.
The objectives entrusted to Adam Parfiniewicz by the company shareholders in 2009 have been achieved. The Company is profitable with its revenues and market position reaching the level from before the financial crisis. The revenue structure has been currently much more diversified, the Company has recorded substantial success both in the traditional mortgage loans segment and in the sale of regular investments. For Adam Parfiniewicz it means the end of his mission. He has decided to move on to seek new professional challenge while stepping down as President and assuming a position in the Company’s Supervisory Board.
We appreciate Adam’s work very much as he so bravely joined our Company in difficult times, drove it out from the financial crisis stronger, and built a solid foundation for his successors, who are going to continue on the development path. It was the second time in his career that he worked for Innova Capital Fund (before, we were doing successfully in PolCard), and we hope it was not our last joint project. We are very grateful to him for his efforts in Expander and the results achieved there – said Leszek Muzyczyszyn, partner in Innova Capital supervising the Fund’s investing activity in Expander Advisors.
After Adam Parfiniewicz’ resignation from membership in the Management Board, the Company shareholders appointed Tony Machin, the current Chairman of the Supervisory Board, as President of the Management Board, who will be supported in this role by the remaining board members. Adam Parfiniewicz is going to join the Supervisory Board, and from that post he will be actively supporting the efforts of building Expander’s market position.
As a next step in Expander’s development, the company will focus more on exploring new sources of income, expanding its product offer and distribution channels while looking for the possibilities of improving the operating performance and market consolidation.
Expander was established in 2000 to become the first Polish company dealing with comprehensive financial advisory services. At present, it is the second largest financial advisory company on our market. It has 66 branches throughout Poland and two networks of mobile advisers. The Expander’s offer includes mortgage loans of 26 banks and hundreds of investment products.
In 2000-2011, Tony Machin was President of European Financial Solutions, an international financial agent. During that time, EFS became a pan-European group specialising in financial agency services, which included 10 companies operating in 7 countries: United Kingdom, Denmark, Sweden, Finland, Spain, Ireland and Norway.
After 12 years of service in the British army, in the years 1997-2000 he was working in NM Rothschild & Sons as the Corporate Finance Executive.
Tony Machin is 45, an engineer, married, three sons.
Adam Parfiniewicz has been involved in the financial market for 20 years. He was involved among others with Powszechny Bank Kredytowy, Bank Przemysłowo-Handlowy and Commercial Union (currently Aviva).
From August 2003 to September 2006 he was the manager of POLCARD (when Innova Capital fund was the investor there). He was among others in charge of developing and implementing the strategy of further company development. As a result of his efforts, within three years POLCARD radically improved its financial results while keeping the position of a leading clearing agent and raising the quality of its outsourcing services for banks.
From October 2006 till 2009 Adam Parfiniewicz was Vice-President of Lukas Bank, where he was responsible for the retail banking line and the sale in the network of own sales outlets and partner outlets as well as for the mortgage division.
Since 2009, Adam Parfiniewicz has been President of Expander Advisors, the oldest financial advisory firm in Poland and at the same time the largest independent adviser. Expander specialises in selling mortgage loans as well as investment and insurance loans. In the past, Expander was awarded many times for the quality of service.
Adam Parfiniewicz is 40; graduate of the Management Faculty at the Warsaw University; married, two sons.