Financial Consultants Leave AWD for Expander

A group of several dozen financial consultants have left AWD for Expander. Bad news for the former, good news for the latter company. AWD President Zenon Slomski says the company will not be able to realise the 2010 forecasts. Meanwhile, Expander President Adam Parfiniewicz says the financial intermediary sector in Poland is still characterised by high degree of migration. He adds that Expander hires people with experience in various companies. Due to several dozen people leaving the company, AWD was forced to shut down two branches in Szczecin and in Lodz. At the moment, the financial intermediary is left with just five branches. Over the last eight months, the number of consultants working for AWD fell from around 350 to around 100. Slomski says this one-off event will not affect the AWD business strategy in Poland. The company is supposed to train staff and grow organically. AWD has not disclosed its financial results.