Press release
1st of August 2019

Head of SEB Latvia Ms Ieva Tetere has been elected to lead the Supervisory Council of the Finance Latvia Association (Finance Latvia). Chairman of the Board of Swedbank Latvia Mr Reinis Rubenis becomes a deputy head of the Supervisory Council.

Supervisory Council of Finance Latvia encompases seven elected members. It includes chief executives of Finance Latvia member entities – Chairman of the Board of Citadele banka Mr Guntis Beļavskis, Head of Luminor Latvia Ms Kerli Gabriloviča, Chairman of the Board of BlueOrange Bank Mr Dmitrijs Latiševs, member of Board of state owned development finance institution ALTUM Ms Inese Zīle, Chairman of the Board of UniCredit Leasing Mr Jevgenijs Belezjaks, Chairman of the Board of SEB Ms Ieva Tetere and Chairman of the Board of Swedbank Latvia Mr Reinis Rubenis.

Ieva Tetere has been elected a Chairperson and Reinis Rubenis the Deputy Chairman of the Supervisory Council. Council members have also agreed to explore an annual rotation of the leadership at the Supervisory Council of Finance Latvia, iterating adherence of the Finance Latvia to the highest standards of corporate governance.

The Supervisory Council of Finance Latvia sets the Association’s strategic goals, appoints members of Finance Latvia Management Board and its Chairperson. The Council members agree on and represent Finance Latvia’s shared position on the issues of strategy.

The priority of the Supervisory Council will be to appoint a new Chairperson of the Management Board of Finance Latvia. Finance Latvia has already informed that Ms Sanda Liepiņa, former CEO, has accepted a new professional challenge and, starting July 1st takes on an assignment at the World Bank Group in Washington DC, USA.

Long term targets of Finance Latvia remain unchanged – to lead innovations in financial services and other realms of economy, to provide a professional training in the field of financial services and digital transformation, as well to support implementation of the highest risk based compliance standards and strengthen cooperation with public bodies in the fight against serious financial crime.
Relentless development in these areas is vital for Latvia as well as the Baltic region. It contributes to the sustainable economic growth and ensures availability of a wide range of first-class financial services for citizens as well as corporates.

Finance Latvia is an open minded European facing non-for-profit organization for broad and joined-up representation of finance, technology and related industries in Latvia, the Baltics, and Europe. Finance Latvia vision – Latvian financial industry pursues broad partnerships and leads in innovation in Europe. Currently, the Finance Latvia brings together 34 banks and other financial services providers. Finance Latvia continues to work on developing three priority workstreams that were set already in July 2018:

  • Development – the industry adheres to the highest international standards and provides competitive, modern and European facing financial services to support the growth of the economy
  • Technology – Latvian financial industry is agile and using technology to enable access for European customers
  • Compliance – achieving the highest anti-money laundering and combating the financing of terrorism (AML/CFT) compliance standards among member firms within the next 2 to 3 years.

Contact: Kristīne Mennika, +371 2652 8533

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