LHV Group
Company Announcement

Andres Kitter, Board Member of LHV Bank, to step down

Andres Kitter, Chief Technology Officer and a member of the executive committee and board of LHV Bank Limited, a subsidiary of LHV Group operating in the United Kingdom, will step down from his position at the end of this year.

Andres Kitter joined LHV in 2013 as a member of the management board of LHV Bank and Head of Retail Banking. Under his leadership, the retail banking offering in Estonia was developed, the business line for international financial intermediaries was launched, and LHV was established in the UK. In his role as Chief Technology Officer, Andres Kitter built one of the most modern banking platforms and assembled a strong team.

"The profitable business line of servicing financial intermediaries, developed under Andres’ initiative and leadership, has helped expand both LHV's mental and operating landscape. It can be considered, this led the way to the subsequent creation of LHV Bank. At the same time, Andres has been involved in the development of the entire business line of financial intermediaries, including customer relations, technology and risk management," said Madis Toomsalu, CEO of LHV Group.

"After 11 remarkable years at LHV, I’ve decided it’s time for a new direction in my career. During my time here, I’ve had the privilege of helping to develop several key business areas and have built a highly capable and inspiring team. Now, I feel the time is right to step outside the company and focus on businesses in their earlier stages of development," commented Andres Kitter.

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 July, LHV’s banking services are being used by 437,000 clients, the pension funds managed by LHV have 118,000 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 Rum
Communications Manager
Phone: +372 502 0786
Email: priit.rum@lhv.ee