AS HANSAPANK

ANNOUNCEMENT

20.11.98

 

 

CHANGES IN HANSABANK'S BOARD OF DIRECTORS

 

 

At the meeting of the Council of AS Hansapank on Thursday, 

November 19, 1998, Jüri Mõis submitted an application to resign 

from the position of Chairman of the Board from January 1, 

1999. Mõis is going to resign at an agreement with the majority 

shareholders of Hansabank and will continue as Chairman until 

the end of the current year, having the full trust and support 

of the Council.  

 

The Council made a proposal to Indrek Neivelt, the present CEO 

of Hansabank Estonia to take over the position of Chairman of 

the Board of AS Hansapank from January 1, 1999. Indrek Neivelt 

accepted the offer and the Council will make the respective 

decision at the next scheduled meeting on December 17. 

 

At the opinion of the Council, the strategic plan to develop 

Hansabank Group into the leading financial organisation of the 

Baltics has been successfully carried out under the leadership 

of Jüri Mõis, a strong strategic co-operation partner Swedbank 

has been included, and the recent share issue and international 

syndicate loan will guarantee the bank the capitalisation that 

is necessary for further development. 

 

According to Jüri Mõis, Chairman of the Board of Hansabank, 

this year marks the beginning of a new stage in the history of 

Hansabank: “ After the recent successful share issue and the 

solving of financing issues, Hansabank has reached a completely 

new development phase. My resignation will open up new career 

opportunities for capable and well educated top managers, who 

can start the new development phase of the bank as a team with 

good prospects in the longer term.” Mõis added that like with 

top sportsmen, it is also important for the top manager of an 

organisation to leave while at the peak of his career. 

 

Chairman of the Council of Hansabank Hannes Tamjärv said that 

Mõis is the most efficient CEO he knows. According to Tamjärv a 

significant part of the organisation is a direct achievement of 

Jüri Mõis.  At the same time he is such a capable leader that 

even after his resignation, the system he has created will 

continue to operate smoothly.

 

According to Hannes Tamjärv, replacing the Chairman of the 

Board will not induce other changes in the bank’s top 

management or in the bank’s business strategy. Hansabank Group 

will continue operating as a strong universal bank in Estonia; 

the priorities in the near future will be to implement 

Hansabank’s trade-mark more strongly at the Latvian banking 

market, to start offering banking services in Lithuania, and to 

develop co-operation relations with Swedbank. 

 

Vice Chairman of the Council of Hansabank Anders Sahlén said 

that Swedbank fully appreciated what Jüri Mõis had achieved in 

making Hansabank the leading bank in the Eastern Europe 

starting almost from nothing some years ago. “Whilst Swedbank 

has full trust in Jüri Mõis, as a major shareholder and 

strategic partner we had to determine that a new Chairman 

should take over in order to achieve the common goals of 

Hansabank and Swedbank in the Baltic region, “ Sahlén added. 

 

 

 

Additional information:

 

Hannes Tamjärv, Chairman of the Council, Hansapank, tel +372 6 

131 321

Anders Sahlén, Vice-Chairman of the Council, Hansapank, tel +46 

8 585 935 90

Jüri Mõis, Chairman of the Board, Hansapank, tel +372 6 131 320

Kristi Liiva, Head of Public Relations, Hansapank, tel +372 6 

133 714

 

 

 

HANSABANK Ltd.

 

 

 

Mart Toevere

Analyst

Tel. +372 6131 569