LMB: Manager Change at Investment Management Company „Hipo Fondi”
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2011-01-19
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LMB: Manager Change at Investment Management Company „Hipo Fondi”
Latvijas Hipoteku un zemes banka Changes board/management/auditors 19.01.2011
Manager Change at Investment Management Company „Hipo Fondi”
Riga, 2011-01-19 10:11 CET (GLOBE NEWSWIRE) -- The investment management
company „Hipo Fondi” is to have another manager. Marina Baranovska will take
over the post of the board chairperson of „Hipo Fondi” from its former
chairperson Normunds Šuksts who will concentrate on leading the Treasury
Department at the Mortgage Bank and transformation of the Mortgage Bank into a
development bank.
Marina Baranovska is a board member of „Hipo Fondi” since 2008. Before taking
up a post at „Hipo Fondi” Marina Baranovska has worked for five years at the
investment management JSC „Baltikums Asset Management” of which the last two -
in the capacity of board chairperson.
Jānis Spriņģis - head of the Asset Management Division at „Hipo Fondi” will
assume the post of board member. Jānis Spriņģis joined „Hipo Fondi” team in
2009 having worked for investment bank „GILD Bankers” in Estonia.
Normunds Šukstshas been leading „Hipo Fondi” since 2008 when “HipoFondi”
majority interest was acquired by Risk Investment Company Ltd owned by Mortgage
Bank.
Since integration into the Mortgage Bank's Group „Hipo Fondi” has multiplied
operational volumes several times reaching 4.63% market share in the management
of the resources of the state funded pensions. „Hipo Fondi” is the manager of
Tier 2 pension plans „Jūrmala”, „Rivjera” and „Safari”. The active state funded
pension plan „Safari” has been the most profitable of all the pension plans
already from the outset. “Hipo Fondi” manages two open investment funds and two
closed real estate funds. In 2010 the company strengthened the capital base
required for development by attracting the funds of private investors in the
amount of 210 000 lats.