Current chairman Kadri Kiisel will step down on April 1st 2026 while Erki will be recalled from the position of position of CEO at LHV Bank and Kris will move from LHV Bank’s director of retail banking to interim CEO.

Erki will be appointed for a five year term after serving as CEO at LHV Bank since January 2021. The European Central Bank will have to approve the compliance of the new Chairman with fitness and propriety requirements, the bank said in a statement.

Erki will remain a member of the board of directors of LHV Bank, and Kris will also join the board.

A recruitment process will be initiated to find a new permanent CEO.

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Mihkel Torim, chairman of the management board of LHV Group, said:  "Having the significant experience of building two banks, Erki brings back to Estonia a unique combination: a fresh international perspective and long-term experience from LHV and both of our home markets.

“His primary task is to provide a new perspective on LHV’s development in Estonia, to strengthen the bridge between our two banks, and to make a strong contribution to our next stage of development.

“This also allows us the opportunity to place the management of our UK bank even further into the hands of a local team that possesses direct market insight.

Erki commented: "LHV's new stage of development brings several changes, where we focus on growing in three strategic directions. In Estonia, we must become even stronger; in the UK, we must actively grow business volumes; and to ensure LHV's broader growth, move forward into other European countries after some time.

“We are bringing the Estonian and UK banks closer together to reduce duplication and increase speed and efficiency in bringing new retail banking products to market.’’