When making up my mind to study law I imagined that in the future I would be practicing as a defence attorney. However, as it happens very often in one’s life, my professional career has developed in other directions – most of my time has been spent practicing on various aspects of capital market.

One of the methods of increasing an enterprise’s efficiency and success is to make the enterprise’s capital available to its employees through a share ownership programme; other means of their participation in the enterprise’s results are also possible.

In my opinion, the idea of EMPLOYEE SHAREHOLDING may have a positive meaning in many areas – it encourages employees’ involvement in carrying out the employer’s business and builds up their portfolio of personal savings. At the same time the success of businesses enhanced with employees’ contributions strengthen the development of the national economy.

For these reasons my blog is dedicated to the development of the idea of EMPLOYEE SHAREHOLDING in Poland, making use of experience of developed markets as well as the observations of Readers.


Paweł Kawarski was born in 1967 in Poland. He studied at the Catholic University of Lublin Law School, graduating from it with a Master of Laws in 1992. He is admitted to practice in Poland since 1997.

Prior to joining SK&S, Paweł Kawarski worked in Legal Departments of several commercial companies and leading Polish banks, where he prepared issue prospectuses, implemented commercial paper programs, established an investment fund management company and prepared a set of regulations governing custodial services.

Paweł Kawarski joined in 1997 SK&s’ capital markets department where he continues his securities law practice. As a Senior Counsel he has worked on numerous IPO and secondary issues carried out by leading Polish companies listed on the Warsaw Stock Exchange. He advises foreign strategic investors on acquisition of majority shareholdings in Polish companies and their subsequent de-listing from the WSE.

Paweł Kawarski assisted on a number of tender offers and squeeze-outs and has been involved in many mergers and acquisitions of non-listed companies and on implementation of numerous employee-shareholding plans launched by foreign dominant companies with regard to employees of their Polish subsidiaries.

Paweł Kawarski’s duties encompass also representation of strategic investors and regulated entities in proceedings before the Polish SEC/FSC, provision of regulatory advice to Polish and foreign investors related to acquisition of significant blocks of shares in local public companies, dissemination of reports by public companies, admission of shares to trading on the WSE, regulatory advice on trading in financial instruments and licensing requirements on the Polish capital market.