The former head of Estonia's central bank, Vahur Kraft, has been appointed new country manager for Nordea in Estonia. Vahur Kraft has served as governor of Estonia's central bank for the last ten years and left the central bank in May this year. Kraft will be responsible for Nordea's operations in Estonia.
Estonia and the other Baltic countries together with Poland are Nordea's emerging home markets and an important growth area. The bank is in an expansive period with strong and rapid growth in the region. During the last twelve months total lending in the Baltic countries and Poland has increased by 39% and mortgage lending by 59%.
"I am pleased that we have been able to recruit Vahur Kraft. He has an extensive knowledge about Estonia's financial markets and is well connected with it, which is valuable for Nordea's future growth plans in Estonia," says Thomas Neckmar, Head of Poland and the Baltic countries in Nordea.
Kraft is one of the main participants behind the economic reforms in Estonia during 1990's. He was responsible for monetary preparations for Estonia's entrance into the EU and has led the work with the Estonian banking reform in mid-90's.
He will take up his new position on 19 September. Christer Rosenström, present Estonian country manager, will have other responsibilities within Nordea in Finland.
