11.12.2025
The candidates to be the next Governor of Eesti Pank will be Andrus Alber, Ülo Kaasik, Kilvar Kessler and Margus Rink
Postitatud:
24.09.2025
The Supervisory Board of Eesti Pank has nominated Andrus Alber, Ülo Kaasik, Kilvar Kessler and Margus Rink (in alphabetical order) as candidates for the position of Governor of Eesti Pank.
The Supervisory Board will hold interviews with the prospective Governors of the central bank at its next meeting on 21 October. It plans to make the final selection at the following meeting, which is scheduled for 28 October.
“The candidates for Governor of Eesti Pank are all outstanding people. This is a vitally important position that matters for the whole of Europe since the new Governor will become a member of the Governing Council of the European Central Bank and participate in taking decisions about interest rates, and those decisions will affect a lot of people and companies in Estonia too. For this reason we felt it was important for the Supervisory Board to take a week to reflect after hearing from the candidates before convening again to make a decision”, said Chair of the Eesti Pank Supervisory Board Urmas Varblane.
There are 11 members of the Eesti Pank Supervisory Board, so candidates will need to get the votes of at least six of them to be successful.
The term of office of Governor of Eesti Pank Madis Müller ends on 6 June 2026. By law it is the Supervisory Board of the central bank that chooses the candidate for Governor of the bank, and the candidate is then confirmed in office by the President of the Republic of Estonia. The term of the Governor of Eesti Pank is restricted by law to seven years and a Governor may not be appointed to office for more than one consecutive term.
Andrus Alber has been involved in the financial sector for over 30 years and has worked in Estonia and in international organisations. He headed the Nasdaq Tallinn stock exchange, was co-founder and CEO of Finora Group, and has worked at the International Monetary Fund and Eesti Pank. He has also been a member of the Estonian Fiscal Council and of the supervisory boards of several organisations.
Ülo Kaasik has been a Deputy Governor of Eesti Pank since 2011 and his areas of responsibility have included economic analysis and monetary policy preparations and operations. He is also a member of the Estonian Fiscal Council. He was previously head of the monetary policy department of Eesti Pank and an advisor on economics to the Prime Minister of the Republic of Estonia.
Kilvar Kessler has been Chair of the Finantsinspektsioon Management Board and a member of the Supervisory Board of the European Central Bank since 2014. He has worked in several European and Nordic-Baltic financial forums, and he earlier worked as a lawyer and in various positions in financial supervision. He also teaches financial markets and supervision at the University of Tartu.
Margus Rink was CEO of Coop Pank in 2016-2025. He was earlier CEO at Magnum AS and a Member of the Management Board at Eesti Energia. Prior to that he held several management positions at Hansapank. He is a Vice-Chairmen of the Board of the Estonian Chamber of Commerce and Industry and a member of the Council of the School of Business and Governance at Taltech University.
Additional information:
Viljar Rääsk
Head of Communications
Eesti Pank
6680 745, 5275 055
Email: [email protected]
Press enquiries: [email protected]