Changes in the composition of the Board of Directors of SEB Latvia approved

As of 7 April, there will be changes in the composition of the Board of Directors of SEB Latvia. Māris Larionovs, Head of Credits Department, will join the Board of Directors and take responsibility for AML and Compliance. Kārlis Danēvičs, the Board member who was responsible for this area before, will head Credit and Risk Control area. The new composition of the Board of Directors is approved by the European Central Bank and the Supervisory Council of SEB bank.

Māris Larionovs has worked for SEB Latvia for more than 27 years and has held several managerial positions in the Retail Banking and Credits areas. While heading the Credit Department for the last 9 years he has ensured constant improvement of SEB Latvia credit portfolio quality and has accumulated extensive experience in relation to customer assessment.

Māris Larionovs holds a Professional Master's degree in Economics from the University of Latvia. He has completed the Senior Management Development Programme at the Wallenberg Institute and the Swedish Leadership Programme "Art of Execution". He has been a Member of the Council of AS Kredītinformācijas birojs since 2014.

Kārlis Danēvičs has more than 17 years of work experience within the bank and has successfully managed various areas and units. In 2014, he was elected to the Board of Directors. For the last two years, he was responsible for AML and Compliance area and has led SEB Latvia through ambitious transformation and ensured operational excellence regarding AML and Compliance matters. Between 2017 and 2019, Kārlis Danēvičs was the board member responsible for Credit and Risk Control. Following his passion and interest in this field, Kārlis Danēvičs will reassume responsibility for the Credits and Risk Control area.

Kārlis Danēvičs holds a Master's degree (MBA) in Business Administration and Finance from the Riga Business School. He studied Finance at the BA School of Business and Finance, and Economic Policy at the University of Latvia. He has also completed the Senior Management Development Programme at the Wallenberg Institute. Kārlis Danēvičs has been actively involved in the work of various organizations: he is a Co-chair of the Lending Committee of the Finance Latvia Association, a Board member of the Baltic Institute of Corporate Governance, and a Chairman of the Council of Latvian SOS Children Villages Association.

Ieva Tetere, Chairman of the Board of Directors of SEB Latvia: “AML and compliance, as well as credit and risk control, are among the most important cornerstones of SEB Latvia and the entire financial sector. I am therefore pleased that Māris Larionovs and Kārlis Danēvičs will assume the responsibility for these areas. They have gained excellent and valuable professional experience in the bank and have also been active in addressing industry issues. Excellence in these areas will certainly help us to be the strongest bank in serving our corporate and retail clients.

Looking to the future, it is clear that we need to purposefully work so that achievements Latvia has made in AML and compliance are recognised by our international partners and investors, and so that we can be ahead of changes in credit and risk control area. We want to be at the forefront of sustainable financing and help to create an environment and opportunities for our businesses and people that support the green transformation and add a long-term value.”

Board member Erki Pugal, who was previously responsible for credit and risk control area, will move on to to the credit organisation of SEB Group.

The Board of Directors of SEB Latvia consists of six people: Chairman of the Board of Directors Ieva Tetere, Head of Large Corporate Banking Ints Krasts, Head of Retail and SME Banking Arnis Škapars, the Board member responsible for AML and Compliance Māris Larionovs, the Board member responsible for Credit and Risk Control Kārlis Danēvičs and Chief Financial Officer Kristaps Strazds.