OREANDA-NEWS. March 05, 2010. Initiated by the Privatisation Agency, Parex banka’s shareholders will assemble for an extraordinary meeting to elect the Council and an Audit Committee for the bank on 6 April 2010, reported the press-centre of Parex Banka.

The current membership of the Council was approved on 29 January 2010 with Andzs Ubelis as the chairman and following members: Kaspars Abolins, Juris Vaskans, Michael J. Bourke and Laurence Philip Adams.

Mr Ubelis is also the deputy state secretary of the Latvian Finance Ministry, and he has chaired the bank’s Council since 23 December 2008. Over the course of 10 years in the system of national governance, he has held a series of positions related to management of EU financing, as well as European integration.

Mr Abolins is governor of the State Treasury, while Mr Vaskans was formerly on the board of the Privatisation Agency. Mr Bourke has served a long term as the president of the Rietumu Banka. He also has a wealth of experience with international financial institutions, including the Irish Central Bank, the IMF, and the NCB Group. Mr Adams represents the European Bank for Reconstruction and Development. He has a 25-year history in the financial sector and has worked for foreign financial institutions such as ABN AMRO Bank and Citibank.

The previous extraordinary meeting of shareholders was held on 29 January to decide on the issue of bank’s debt securities.

Currently, the Latvian Privatisation Agency is the majority shareholder of Parex banka, holding 76.6% of the Bank’s shares, but 19.7% are owned by the European Bank for Reconstruction and Development. Minority shareholders hold the remaining shares.