OREANDA-NEWS. July 31, 2012. The Supervisory Board of Citadele Bank appoints Jolanta Jerane to Chair the bank group companies Citadele Life and Citadele Open Pension Fund. Ms. Jerane has been working in the management of Citadele Life since the establishment of the company, reported the press-centre of Citadele Bank.

Juris Jakobsons, Chairman of the Supervisory Board of Citadele Life and Citadele Open Pension Fund, acknowledges that candidates for the post of the Executive Board Chairperson of the bank’s subsidiaries were sought among the bank’s employees. All candidates were very strong and selecting the successful candidate was a difficult task for the Supervisory Board. During the course of candidate assessment Jolanta Jerane stood out from the others with a clear vision on the development of both companies and a concrete plan for achieving the determined goals.

Ms. Jerane started her career in banking in 1999 as a customer services specialist. In 2005 she started working for Parex banka as the Head of Business Development of Riga Customer Service Centre and Sub-branch Network at the Regional Services Department. Two years later she accepted the challenge to continue her career in the field of insurance at the newly established insurance company Parex Dziviba. “This was a very interesting period since the company basically had to be started from the scratch: licenses for conducting insurance business had been received, and we started developing products, drafting terms and conditions, designing templates for document forms and training sales representatives,” remembers Ms. Jerane.

“Currently Citadele Life is the most rapidly growing insurance company in Latvia therefore we have lots of work. Our task is to maintain the rapid growth rates and increase our market share paying special attention to the quality of serving our clients,” says J. Jerane.

“Our plans regarding Citadele Open Pension Fund, in turn, are related to ensuring the increase of our market share. We are planning to attract corporate clients by offering them interesting products. As the economy recovers, employers become interested in additional instruments for motivating their employees. Retail clients also appreciate our products thanks to their high profitability.”

The process of appointing a new Member of the Board for JSC Citadele Open Pension Fund and JSIC Citadele Life is currently also taking place; the candidate was selected from the existing staff of the bank. Thus the companies will be run by the Chairman and two Members of the Board. JSIC Citadele Life offers savings life insurance services for products linked to the market as well as for savings with guaranteed interest. The company also offers life insurance for borrowers, and life and personal accident insurance as well.

The asset manager of JSC Citadele Open Pension Fund is IPAS Citadele Asset Management, the largest asset management company in the Baltic States and the second biggest company of its kind in Eastern Europe. The total of assets under the company’s management exceeds 1.2 billion US dollars.