Citadele Bank

On Changes in Citadele Bank’s Supervisory Board

Published on

Laurie Adams, a member of Citadele Bank’s Supervisory Board since its foundation, has decided (due to pressure of other work commitments) to step down from the Supervisory Board. At a meeting of Citadele Bank’s shareholders the Bank’s Supervisory Board was re-elected; its four previous members remain on the board.

Geoffrey Dunn, having served on the Bank’s Supervisory Board since Citadele Bank’s foundation in 2010, remains on the board. He has been nominated by the European Bank for Reconstruction and Development (EBRD). Aldis Greitāns and Baiba Anda Rubesa, members of the Supervisory Board, and Klāvs Vasks, the Chairman of the Supervisory Board, remain on the board as representatives of VAS Privatizācijas aģentūra.

Laurie Adams, who had served on Citadele Bank’s Supervisory Board as the EBRD representative, is now the Non-Executive Chairman of the Board of the Principality Building Society (United Kingdom).

Klāvs Vasks and Geoffrey Dunn have served together on Citadele Bank’s Supervisory Board since 11 August 2010. Aldis Greitāns and Baiba Anda Rubesa were elected on 12 October 2012.

Klāvs Vasks is also the Chairman of the Latvian Guarantee Agency (LGA). He was previously Senior Vice President, Head of Restructuring Department and Head of Corporate Services Department at SEB Bank (Latvia). He also served on the Supervisory Board of Parex Bank prior to its restructuring in 2010.

Geoffrey Dunn was previously Interim CFO for Reconstruction at Northern Rock (a British bank), Interim Director of Business Performance Management at Co-operative Financial Services, Interim CFO at the Bank of England and CFO at SWIFT and held a number of other positions at financial institutions in the United Kingdom. He is also Chairman of Saffron Building Society (UK).

Aldis Greitāns has more than 20 years’ experience in the strategic management. Until 1999, he worked at various banks in Latvia. Since 1999, he has held senior management positions in one of Latvia’s major business process outsourcing companies, AS Itella Information, currently AS Opus Capita.

Baiba Anda Rubesa has extensive international experience in management and communication. From 1996, Baiba Rubesa held a number of managerial positions at Statoil and, from 2010 to 2013, she was Vice President, Corporate Social Responsibility, Statoil ASA (Norway). From 2002 to 2009, Baiba Rubesa was on the Supervisory Board of DnB NORD.

About Citadele Bank

Citadele Bank is a local bank that offers banking, financial and asset management services. The core market of Citadele Group is the Baltic States – Latvia, Lithuania and Estonia. Citadele Bank is the only collaboration partner of American Express® in Latvia and Lithuania entitled to issue American Express credit cards. The bank has been recognised as the best-governed state-owned enterprise in the Baltics according to a study conducted by the Baltic Institute of Corporate Governance. Citadele’s vision is to become the most valuable local financial group in the Baltic States. VAS Privatizācijas aģentūra is the owner of 75% minus one share in Citadele Bank, while the European Bank for Reconstruction and Development owns 25% plus one share in Citadele Bank.

Recent press releases

All press releases