The Supervisory Board of AS LHV Group has decided to recall the Management Board member and CRO Martti Singi by the end of 2024 at the latest as mutually agreed. Simultaneously, it has been decided to recall the Management Board member and CRO of AS LHV Pank within the same timeframe. Martti Singi has been working as the CRO at LHV since 2012.

Last year, LHV became a systematically important bank under the supervision of the European Central Bank, and the related processes have now concluded. The management of LHV Group along with the Nomination Committee have started searching for a candidate for the new Management Board member. Changes in the Management Boards of LHV Group and LHV Pank are planned to be implemented by the end of year 2024, with the exact date depending on the progress of finding a new Management Board member.

The decision on the suitability of the new Management Board member will also be made by the European Central Bank.