LHV Group Appoints New Chief Executive Officer

Strategic Insights -

Mihkel Torim has been appointed as the chairman of the management board and chief executive officer of AS LHV Group, effective July 22, 2025. Torim brings over two decades of experience in capital markets and investment banking across the Baltics and Northern Europe. He will succeed Madis Toomsalu, who has served as CEO since 2016. Torim's appointment is expected to have a significant impact on the company's future direction, with him also set to join the supervisory board of AS LHV Pank and other key subsidiaries, subject to regulatory approvals.

Key Takeaways:

  • Mihkel Torim has been appointed as the new chief executive officer of AS LHV Group, effective July 22, 2025.
  • Torim brings over two decades of experience in capital markets and investment banking across the Baltics and Northern Europe.
  • He will succeed Madis Toomsalu, who has served as CEO since 2016.
  • Torim's appointment is expected to have a significant impact on the company's future direction.
  • He will also join the supervisory board of AS LHV Pank and other key subsidiaries, including LHV Kindlustus, LHV Varahaldus, and LHV Bank Ltd., subject to regulatory approvals.
  • The LHV Group management board also includes Meelis Paakspuu, Kadri Haldre, and Juri Heero.
  • LHV Group is an Estonia-based domestic financial group with subsidiaries serving over 468,000 banking clients, 113,000 pension fund clients, and 176,000 insurance clients.
  • LHV Bank Limited is licensed in the UK and supports fintech companies and SME lending.

Statistics:

  • 468,000: Number of banking clients served by LHV Group's subsidiaries.
  • 113,000: Number of pension fund clients served by LHV Group's subsidiaries.
  • 176,000: Number of insurance clients served by LHV Group's subsidiaries.
  • 22: Date on which Mihkel Torim will assume his new role as CEO.
  • 2016: Year in which Madis Toomsalu took on the role of CEO.
  • 2023: Year in which Mihkel Torim joined LHV Group.

Sources:

  • "M2 EquityBites - LHV Group appoints Chief Executive Officer" (June 9, 2025)
  • "Global Banking News - LHV Group Appoints Chief Executive Officer" (June 9, 2025)