Conflict at the National Bank of Poland. Paweł Mucha versus the rest of the NBP management board. What is it about

On Wednesday, Paweł Mucha published a statement on the X platform (formerly Twitter), as well as two letters that he had previously addressed to the members of the Monetary Policy Council: “Letter regarding failure to perform obligations regarding the cooperation of NBP bodies” dated November 2, 2023 and “Letter regarding failure to perform duties by the President of NBP, Adam Glapiński” of November 6, 2023.

Here are Paweł Mucha’s main accusations against the way the NBP operates, including the president of the central bank:

1. copies of the minutes of the Monetary Policy Council “are not made available at all to at least some” members of the NBP management board. Mucha claims that he has written to the President of the National Bank of Poland on this matter many times. He indicated the dates of March 31, June 5, June 13 and October 24.

2. as a member of the management board, he was “unlawfully” denied access to “recordings of the management board minutes” in which the issues of sharing documents from the MPC meetings were discussed. In the minutes themselves, as Mucha writes, the statements “were not strictly recorded.”

3. difficult meetings with the President of the NBP, Adam Glapiński. Mucha cites the situation of October 24, 2023, when he submitted a letter to the President of the NBP, Adam Glapiński, regarding the work of the management board and the activities of its bodies and asked for an urgent meeting to discuss the organization of the work of the management board, the principles of operation and cooperation of the NBP bodies and to discuss current matters. “On October 24-26, I did not receive any response in this matter, nor was I provided with information whether the President of the NBP worked at all during this period and whether he performed it from the NBP Headquarters,” we read in the letter.

4. there was no information about Glapiński’s presence or management of the NBP’s work on a given day also earlier.

5. At the meeting of the NBP management board on November 2, some members of the management board, headed by President Glapiński, accused Paweł Musza of “unacceptable conduct” and indicated that the management board performs all its tasks without any disruptions. “Unfortunately, this statement does not correspond to the actual and legal situation,” Mucha said.

The former presidential minister also wrote that “the proper and, above all, lawful performance of duties by members of NBP bodies (including in particular the President of NBP) is crucial for the implementation of the bank’s goals and tasks.”

On the website of the central bank, even before Mucha published the documents, a position was published “in connection with the behavior of Mr. Paweł Mucha throughout 2023.”

“The Management Board of the National Bank of Poland states the following: the conduct of Mr. Paweł Mucha, member of the Management Board of NBP, is considered unacceptable, in particular consisting in creating an atmosphere of threat, settlements, conflict, groundless attempts to impose only his own point of view, groundless criticism of his colleagues and the President of NBP, as well as all other activities contrary to the Principles of Ethics of Employees of the National Bank of Poland,” it was written.

“Contrary to the allegations raised by Mr. Paweł Mucha, member of the management board of NBP, and despite the proceedings referred to in section 1, the management board of the National Bank of Poland performs all its tasks undisturbed, effectively and in accordance with the law,” it added.

The position was taken up on November 2, 2023.

According to the NBP organizational chart, valid from March 24 this year, Paweł Mucha does not supervise any NBP department.

Referring to the position, Mucha assessed on his profile on the website

“What’s more, this position was voted on in the absence of one of the Management Board members who had no knowledge about it and with two opposing votes from those present at the meeting,” he added.

In recent days, Mucha’s situation at the NBP has become famous after the publication on the Salon24 website of an entry titled “Mucha’s Byzantium at the NBP”, authored by a person nicknamed “brek”. It was stated there that Mucha did not supervise any department and “in practice, this means that he does nothing in the bank.”

“Supposedly, the reason is Mucha’s conflict with the Management Board of the NBP over his remuneration and other privileges, combined with Mucha’s enormous ambitions, which apparently go as far as running in the next presidential elections. Despite major competence gaps and little experience in economic and banking matters, Mucha is fighting for a radical increase in his salary to the level of President Marta Kightley and would like to take over her role as the first deputy president of the NBP, which gives higher remuneration, bonuses, awards and representative functions, including the opportunity to appear in the media and at international meetings,” we could read.

On Tuesday evening, an entry appeared on the X platform (formerly Twitter) of the NBP press office. “Member of the Management Board, Mr. Paweł Mucha, does not supervise the NBP Departments,” it was written.

Questions about overdue bonuses were also addressed, with the bank emphasizing that “there is no such thing as overdue bonuses/awards, as they are discretionary and closely related to work results, not obligatory.” It was also indicated that Mucha “sent letters to members of the Monetary Policy Council.”

August 15, 2022, President of the Republic of Poland Andrzej Dudaat the request of the President of the National Bank of Poland, appointed Paweł Mucha as a member of the Management Board of the National Bank of Poland as of September 1, 2022.

Previously (since January 2021), Paweł Mucha served as a social advisor to the president. From January 1, 2021, he was also an advisor to the President of the NBP, Adam Glapiński, and from June 2021 – the chairman of the Supervisory Board of PZU SA.