OREANDA-NEWS. On 18 October, Loit Linnupold is to step down from his position as Chairman of the Management Board of Swedbank Investeerimisfondid AS (SIF), having made the choice to do so himself.

Loit is leaving the bank for personal reasons. He has been Chairman of the Management Board since February 2012. SIF Management Board member Meelis Hint shall continue with day-to-day management of the company and if necessary, acting CEO will be appointed from within Swedbank Group until new SIF CEO is selected.

CEO of Swedbank Estonia Priit Perens thanks Loit for his work. “Loit has been a strong addition to Swedbank’s Estonian investment and pension fund team – during his term, pension funds have shown positive results and the satisfaction of clients with funds has increased,” Perens explained.
Founded in 1994, Swedbank Investeerimisfondid AS is Estonia’s first large-scale asset management company, managing pension and investment funds and private portfolios of institutional investors. It has been a subsidiary of Swedbank Robur since 2009.

Swedbank Robur was established in 1967. It is one of Scandinavia’s leading fund managers, with 3 million clients and total assets of nearly 70 billion euros.