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Proposed changes to the Management Board of LHV Pank and the governing bodies of LHV companies
Globenewswire· 2026-03-03 06:00
Core Viewpoint - LHV Group is undergoing significant leadership changes, with Erki Kilu set to replace Kadri Kiisel as Chairman of the Management Board of LHV Pank effective April 1, 2026, as part of a strategic plan to enhance the bank's development in Estonia and the UK [1][7]. Leadership Changes - The Nomination Committee has proposed recalling Kadri Kiisel from her position as Chairman of the Management Board of LHV Pank, with Erki Kilu nominated as her successor [1]. - Erki Kilu has been the CEO of LHV Bank since January 2021, leading the company to obtain a UK banking license in May 2023 and achieving rapid growth in net income, deposits, and loans [2]. - Kris Brewster will take over as Interim CEO of LHV Bank starting April 1, 2026, while Kilu remains on the Board of Directors [3]. Strategic Focus - Erki Kilu aims to strengthen LHV's presence in Estonia, expand business volumes in the UK, and explore growth opportunities in other European countries [8][9]. - The company plans to enhance product scalability and reduce duplication between its Estonian and UK operations to improve efficiency [9]. Company Performance - LHV Pank has experienced significant growth, with loan and deposit volumes more than doubling over the past five years, and is on track to reach half a million clients [10]. - LHV Group is the largest domestic financial group in Estonia, with nearly 1,200 employees and a diverse range of services across its subsidiaries [10].