The Supervisory Board of AS LHV Group has elected Mihkel Torim as Chairman of the Management Board and CEO of LHV Group. He currently serves as Head of Investment Banking at LHV Bank. Torim will assume the role on 22 July 2025, succeeding Madis Toomsalu, who announced his intention to step down earlier this year after serving as CEO since 2016.
Mihkel Torim is a seasoned leader in capital markets and investment banking, with over 20 years of experience across financial institutions in the Baltics and Northern Europe. He joined LHV in early 2023 to lead the bank's investment banking operations. Prior to that, he held senior positions at Swedbank, including as Head of Baltic Investment Banking and Manager of the Finnish investment banking unit.
As Chairman of the LHV Group's Management Board, Torim has also been elected to the Supervisory Board of AS LHV Pank as of 22 July. Whether the new board member meets the eligibility requirements will also be approved bv the ECB. Conjointly, he is expected to join the Supervisory Boards of the Group's other key subsidiaries: LHV Kindlustus, and LHV Varahaldus, as well as the Board of Directors of LHV Bank Ltd.
Torim holds a bachelor's degree in finance from Audentes University and has completed various professional development programs. He currently serves on the Management Board of Fortima OÜ. While he does not presently hold shares in LHV Group, he has been granted options to subscribe for a total of 199,575 shares issued in 2023 and 2024.
Rain Lõhmus, Chairman of the Supervisory Board of LHV Group, commented:
"Mihkel has proven himself through dedication and results. His high agency and commitment to continuous learning make him well-suited to steer LHV into its next stage of development. His investment banking background gives him a sharp understanding of where and how value is created. As LHV prepares for significant technological transformation, these qualities are essential.
I would also like to thank Madis Toomsalu, who has been instrumental in shaping LHV into the strong financial group it is today."
Mihkel Torim commented:
"I take on this new challenge knowing that LHV is very well managed. Together, our team is well-positioned to deliver on LHV's vision to become the most trusted and forward-thinking financial group. My priority will be set on growing the value of the company. We are committed to innovation, operational excellence, and long-term growth -underpinned by a vigilant, client-first culture."
Besides Mihkel Torim, the Management Board of LHV Group also includes Meelis Paakspuu, Kadri Haldre and Jüri Heero.
LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus, and LHV Bank Limited. The Group employs over 1,150 people. As at 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.
Priit Rum
Communications Manager
Phone: +372 502 0786
Email: priit.rum@lhv.ee
