The Supervisory Board appointed Joel Kukemelk as member of the Supervisory Board of Finantsinspektsioon at the proposal of Governor of Eesti Pank Madis Müller. Kukemelk will start his three-year term of office on 1 October, which is the date that the term of office of Finantsinspektsioon Supervisory Board member Rein Minka ends.

Joel Kukemelk worked for a long time at LHV Varahaldus, initially as a fund manager and then as a member of the management board. He was also Head of Estonian Pension Contribution Working Group at FinanceEstonia, and a Member of the Supervisory Board at the Estonian Guarantee Fund. Mr Kukemelk holds a Master’s degree in accounting and finance from the University of Tartu.

The Supervisory Board of Finantsinspektsioon has six members by law, among whom the Minister of Finance and the Governor of Eesti Pank are members by virtue of office. The government appoints a further two members at the proposal of the Minister of Finance, and the Supervisory Board of Eesti Pank appoints two at the proposal of the Governor of the bank.

Governor Madis Müller also gave the Board the regular review of the economy in the euro area and Estonia, and Deputy Governor Ülo Kaasik presented the latest economic forecast of the bank. After the meeting the Board had a meeting with the head of the internal audit department Viljar Alnek.

The next meeting of the Eesti Pank Supervisory Board will be on 23 September.

Additional information:
Viljar Rääsk
Head of Communications
Eesti Pank
6680 745, 5275 055
Email: [email protected]
Press enquiries: [email protected]