Bingyang Zhu, Thomas Isaac, Eric Hazan, George Truett Tate have been nominated to join Citadele Supervisory Board, subject to receiving respective regulatory approvals. As follows, Lawrence Neal Lavine, Dhananjaya Dvivedi, Karina Saroukhanian, Sylvia Gansser-Potts will leave Citadele’s Supervisory Board.

Rūta Ežerskienė, CEO and Chief of Management Board at Citadele Bank, stated, "The only constant in life is change, and at Citadele, we see it as a driver of growth. We have achieved significant progress in our operations, and I would like to express my sincere gratitude to Lawrence Neal Lavine, Dhananjaya Dvivedi, Karina Saroukhanian, and Sylvia Gansser-Potts for their invaluable contributions and expertise in guiding Citadele toward long-term success. At the same time, I am pleased to welcome the new members of the Supervisory Board - each brings different expertise and perspectives, adding up to over a hundred years of combined experience.”

Bingyang Zhu is a Managing Director at Ripplewood Advisors LLC. Mr. Zhu is responsible for evaluating and executing investments in the banking, financial services, and other sectors across Europe and the Middle East since joining the firm in 2008. Before joining Ripplewood, Mr. Zhu was an investment banking analyst in the General Industrials Group at Morgan Stanley, covering the IT outsourcing / processing, conglomerates, and aerospace & defense sectors. Mr. Zhu earned a Bachelor of Science in Applied Economics and Management, magna cum laude, from Cornell University. 

Thomas Isaac has decades of experience in successfully managing businesses, for example Citigroup. Mr. Isaac is experienced in steering businesses through periods of uncertainty, for example managing the Citi EMEA crisis management during the global COVID pandemic. He has been a Senior Advisor at Ripplewood Advisors Limited since 2021, providing advice on strategy. Mr. Isaac holds a Master of Business Administration from the Chartered Institute for Securities & Investment and BA in Engineering from the Open University Business School. 

Eric Hazan has extensive experience in technology and digital transformation with initiatives that integrate artificial intelligence, machine learning, and advanced analytics into business processes. For nearly 20 years, Mr. Hazan has worked at McKinsey & Company as Senior Partner. His work spans various industries, driving business growth through technological advancements. In addition, Mr. Hazan is a professor at HEC Paris and Sciences Po. His extensive experience in technology and digital transformation with focus on GenAI will provide Citadele an advantage.

George Truett Tate has an extensive career in executive positions and board memberships across various industries, including management consulting, education technology, insurance, and banking. At the moment, Mr. Tate holds member or chairman positions in several Advisory Boards across the globe. He has extensive experience in executive positions, including in Australia and New Zealand Banking Group and Lloyds Banking Group, driving significant revenue growth and leading strategic initiatives, including expanding business to different markets. Mr. Tate has a degree from Harvard Business School, PMD Program and Brown University.

The decision to appoint members of the Supervisory Board is awaiting regulatory approval. 

About Citadele

Citadele’s, rated Baa1 (stable) by Moody’s, mission is to modernise the financial industry and offer more opportunities to private individuals and businesses throughout the Baltics. In 2024, Citadele issued EUR 1.3 billion in new loans, with its total loan portfolio reaching EUR 3.3 billion, while total deposits reached EUR 4.0 billion. Alongside a modern universal banking platform, Citadele offers its clients a range of services based on next-generation financial technology, including its modern app, contactless payments and instant payments. Citadele was the first in the Baltics to introduce account opening with a selfie, payment rings and payments to mobile numbers. Citadele Bank is the Group’s parent company in Latvia, and its subsidiaries and branches operate in Latvia, Lithuania and Estonia.