LHV Group

Changes in AS LHV Pank Management Board


On 30 November 2020, the Supervisory Board of AS LHV Pank, belonging to the consolidation group of AS LHV Group, decided to, as of 20 January 2021, recall Erki Kilu from the Management Board and elect Kadri Kiisel as the new Chairman of the Management Board of AS LHV Pank.

Erki Kilu will proceed to head a subsidiary to be established in the United Kingdom with the objective to acquire a licence of a credit institution. More information was disclosed in the 19 November market announcement.

Kadri Kiisel has been managing retail banking of AS LHV Pank since 2018 as a Member of the Management Board and has also been the CEO of AS LHV Finance. From 2011, Kiisel worked as the manager of the LHV Pank Tallinn branch and since 2017 she was the Head of branches of LHV Pank. Kadri Kiisel has a Master’s degree in Financial Management from the University of Tartu. Kadri Kiisel does not hold managerial positions in other companies. She holds 2,094 shares of AS LHV Group and has the right to acquire a total of 39,826 shares of AS LHV Group based on options issued in 2018, 2019 and 2020.

LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank and LHV Varahaldus. LHV employs over 500 people. LHV’s Banking Services are used by more than 240,000 clients, and pension funds managed by LHV have more than 184,000 active clients. LHV’s UK branch offers banking infrastructure to 130 international financial services companies, via which LHV’s payment services reach clients around the world.

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