OREANDA-NEWS. The Council of ABLV Asset Management, IPAS, has approved the new Board of the company. The new Board took office on 15 November 2013. The changes were affirmed by ABLV Bank, AS, Board, as well as permission of the Financial and Capital Market Commission was obtained.

Two members of ABLV Asset Management, IPAS, Board were reappointed: Leonids Kils will continue to be the Chairman of the Board, and Jevgenijs Gzibovskis - the Deputy Chairman of the Board.

The new member of ABLV Asset Management, IPAS, Board will be Sergejs Gacenko, instead of former Board member Vadims Burcevs. Sergejs Gacenko joined ABLV Asset Management, IPAS, in July 2012, and he is government bond and corporate bond mutual funds manager.

ABLV Bank, AS is the largest independent private bank in Latvia. The bank's majority shareholders - Olegs Fils, Ernests Bernis and Nika Berne - directly and indirectly hold 86% of the bank's voting share capital. ABLV Group includes ABLV Bank, AS; ABLV Bank Luxembourg, S.A.; ABLV Capital Markets, IBAS; ABLV Asset Management, IPAS; Pillar Holding Company, KS; ABLV Consulting Services, AS; ABLV Corporate Services, SIA; New Hanza City, SIA, and other companies. ABLV Group has representative offices in Moscow, St. Petersburg, Yekaterinburg, Kiev, Odessa, Minsk, Almaty, Dushanbe, Baku, and Tashkent.