AS LHV Group announced that it intends to appoint Erki Kilu as the Head of a subsidiary to be established in the United Kingdom, i.e. a new bank. In this regard, the Supervisory Board of AS LHV Pank plans to elect Kadri Kiisel as the new Chairman of the Management Board of AS LHV Pank. According to the plans, the changes in the Management of the company will take effect on 20 January 2021. LHV is more clearly separating the business operations of LHV Pank in the United Kingdom and the business in Estonia, and is going to set up a new credit institution for providing services to its clients who are international payment intermediaries. The establishment of a subsidiary is currently in process, followed by manning, capitalisation and application for the activity licence of the credit institution.