Change in the Management Board of LHV Varahaldus
May 15 2024 - 1:00AM
Change in the Management Board of LHV Varahaldus
The Supervisory Board of AS LHV Varahaldus, a subsidiary of AS
LHV Group, has decided to recall Management Board member Joel
Kukemelk as of 31 July 2024 as mutually agreed. After that the
Management Board will consist of two members.
Joel Kukemelk has been working in LHV for a total of 18 years in
various roles in the initial investment company, the bank and for
the last 14 years in the asset management company. "With his
dedication as a member of the board, as a fund manager and
previously also as a portfolio manager and analyst, Joel has left a
noticeable mark on the development of LHV and has also expanded the
landscape of Estonian pension funds as a whole. With his active
help, thousands of pension collectors have grown their assets,"
commented Vahur Vallistu, Chairman of the Management Board of LHV
Varahaldus.
According to Joel Kukemelk, now is a convenient time to depart
and hand his work over to teammates. "Eight years ago we introduced
the first index funds to the Estonian pension market and four years
ago the only funds investing in the trend of green transition. In
constructive cooperation with the state and market participants, we
succeeded in creating an opportunity for pension collectors to
start submitting applications for enhanced payments to II pillar
pension from 2024. Additionally, as a result of active informing,
the understanding of the need for an occupational pension has
grown, and it has also reached the government's coalition program,"
commented Kukemelk.
Until the end of July, in addition to the position of a
management board member, Joel Kukemelk will also perform his duties
of fund manager, after which other members of LHV's experienced
investment team will take over the management of LHV pension funds
Roheline, Indeks, Roheline III and Indeks III.
LHV Group is the largest domestic financial group and capital
provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV
Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs
over 1,100 people. As at the end of April, LHV’s banking services
are being used by 432,000 clients, the pension funds managed by LHV
have 120,000 active clients, and LHV Kindlustus protects a total of
167,000 clients. LHV Bank Limited, a subsidiary of the Group, holds
a banking licence in the UK and provides banking services to
international financial technology companies, as well as loans to
small and medium-sized enterprises.
Priit RumCommunications ManagerPhone: +372 502 0786Email:
priit.rum@lhv.ee