OREANDA-NEWS. November 6, 2012. “Citadele Asset Management” IPAS (hereinafter – Company) hereby informs that on October 31, 2012 the council of JSC “Citadele banka” approved the changes to the membership of the Company’s Board and Council.

Uldis Upenieks was appointed to be the chairman of the Board of the Company effective November 1, 2012. Consequently, the Board is currently made up of two Board members: Uldis Upenieks and Zigurds Vaikulis. The Company’s Council was elected, and is now composed of the following members: Juris Jakobsons, the chairman of the Council, Vladimirs Ivanovs, the deputy chairman of the Council, and Philip Nigel Allard, the member of the Council.

Uldis Upenieks has 17 years of experience in the financial sector, and he has spent the last 10 years working in the field of banking. For the last year-and-a-half he worked for PrivatBank – as a board member from May 2011 and as the head of internal audits for the PrivatBank Ukraine Group from November 2011. Prior to that, beginning in 2002, Uldis worked for the Parex Bank and then the Citadele Bank. He was responsible for client oversight, and for the past three years he was a vice president and the deputy director of the Risk and Compliance Directorate. He holds a master’s degree in engineering management and a bachelor’s degree in economics from the Riga Technical University, and he is currently pursuing further studies at the Riga School of Law.