Supervisory Board

The Supervisory Board (the “Council”) of the Bank comprises five to eight members elected by the General Meeting of the shareholders for a two year term of office. The Council members will elect among themselves the Chairman and Vice-Chairman of the Council. The Council members do not have to be the shareholders of the Bank or their representatives. The Council has a control function within the Bank and, as such, is responsible for supervising the performance of the Management Board.

The meetings of the Council are convened by the Chairman of the Council or the member of the Council replacing him in case of necessity, and must take place at least once in every three months.

The Council currently comprises the following individuals:

Joakim J. Helenius (Chairman) - Hansa Investments, Chairman of the Board
Jonathan H. M. Harfield - EBRD, senior banker
Andre Küüsvek - EBRD, associate banker
Tanel Ross - Bank of Estonia, Central Bank Policy Department
Lars-Olof Ödlund - Sparbanken Sverige AB, Vice President

The Council appoints the Chairman of the Management Board (the “Managing Director”), who is responsible for the general management and supervision of the business activities of the Bank.

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