OREANDA-NEWS. May 11, 2011. At its extraordinary meeting the Supervisory Board of Eesti Pank appointed the Deputy Governor candidates Ulo Kaasik and Madis Mьller to office for a term of five years, reported the press-centre of Eesti Pank.

The decision was the result of a secret vote and it was consensual.

Ьlo Kaasik will assume office on 9 July and Madis Mьller on 1 September. Madis Mьller's monthly remuneration will be 6,500 euros and Ьlo Kaasik's remuneration 5,500 euros.

"The most important thing is that both candidates were approved by all members of the Supervisory Board. This shows that the Supervisory Board's attitude to the new Deputy Governors is very supportive," said Jaan Mдnnik, Chairman of the Supervisory Board.

Governor of Eesti Pank Andres Lipstok said he was pleased that the Supervisory Board supported the candidates he had nominated, since they shared a common view of Eesti Pank.

The next meeting of the Supervisory Board will be held on 31 May.

Ьlo Kaasik is currently Head of the Economics Department at Eesti Pank. His previous work experience includes being Economic Advisor to the Prime Minister and Head of the Economic Policy Office at Eesti Pank. Ьlo Kaasik has a Bachelor's degree in Business Administration from the University of Tartu and a Master's degree in Economics from the Tallinn University of Technology.

Madis Mьller is currently Senior Portfolio Officer at the International Finance Corporation. His previous work experience includes being Senior Advisor to Executive Director at The World Bank, Economic Policy Adviser at the Prime Minister's Office and Consultant in Corporate Finance at PricewaterhouseCoopers. Madis Mьller has a Bachelor's degree in Finance and Banking from the Estonian Business School and a Master's degree in Finance from the George Washington University.