LHV Group Elects Mihkel Torim as New Chairman of the Management Board and CEO

Strategic Insights -

LHV Group, the largest domestic financial group and capital provider in Estonia, has elected Mihkel Torim as the new Chairman of the Management Board and CEO, succeeding Madis Toomsalu. Torim, a seasoned leader in capital markets and investment banking with over 20 years of experience, will assume the role on 22 July 2025. As Chairman of the Management Board, Torim will also be elected to the Supervisory Board of AS LHV Pank and join the Supervisory Boards of the Group's other key subsidiaries.

Key Takeaways:

  • Mihkel Torim, a seasoned leader in capital markets and investment banking, has been elected as the new Chairman of the Management Board and CEO of LHV Group, succeeding Madis Toomsalu.
  • Torim will assume the role on 22 July 2025, bringing over 20 years of experience across financial institutions in the Baltics and Northern Europe to the position.
  • As Chairman of the Management Board, Torim will also be elected to the Supervisory Board of AS LHV Pank and join the Supervisory Boards of the Group's other key subsidiaries: LHV Kindlustus, and LHV Varahaldus.
  • Torim currently serves on the Management Board of Fortima OÈ£ and has been granted options to subscribe for a total of 199,575 shares issued in 2023 and 2024.
  • Rain LÈ´hmus, Chairman of the Supervisory Board of LHV Group, expressed confidence in Torim's ability to steer LHV into its next stage of development, citing his dedication, results, and commitment to continuous learning.
  • Torim's priority will be set on growing the value of the company, focusing on innovation, operational excellence, and long-term growth.

Statistics:

  • LHV Group employs over 1,150 people.
  • As of the end of April, LHV's banking services are being used by 468,000 clients, the pension funds managed by LHV have 113,000 active clients, and LHV Kindlustus protects a total of 176,000 clients.
  • LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized enterprises.

Sources:

  • Superseding Chairman of the Management Board/ CEO of LHV Group
  • AS LHV Pank
  • LHV Kindlustus
  • LHV Varahaldus
  • LHV Bank Limited
  • Fortima OÈ£
  • GlobeNewswire (MIL-OSI)