Andrus Treier, long-time CEO of KredEx, is resigning

Andrus Treier, who has worked at KredEx since 2003, will be resigning his position at the end of April, at his own request

“Twelve and half years is a long time, which has included periods of economic boom as well as recession. However, the most important thing is that during this period, KredEx has served as a trustworthy partner to various parties and altogether has operated with a moderate degree of profitably,” Andrus Treier said. “KredEx has continuously developed and launched various new services onto the market, such as credit lines for banks and subordinated loans; a credit insurance company and the Baltic Innovation Fund were founded; a quick charging network for electric cars was built, and a short-term car rental service is being offered. I have had the possibility to lead one of the most interesting and diversified financial institutions in Estonia, and I am truly grateful for that experience.”

Each year KredEx has supported up to 500 companies by funding their activity and nearly 2000 residents in purchasing a home. More than 700 apartment buildings have been renovated. As of today, the total balance sheet of the KredEx Group is almost EUR 200 million, and the total guarantee and insurance portfolio exceeds EUR 360 million. KredEx is one of the most important implementers of Structural Funds and financial instruments in Estonia.

According to Merike Saks, Secretary General of the Ministry of Economic Affairs and Communications, Andrus Treier has done a great job. “As a financial services expert, Andrus built up a well-functioning organisation that contributed to the development of Estonian enterprises and the economy. I wish him success and every strength in meeting his new challenges”, Saks added.

Andrus Treier’s last day at KredEx will be 30 April 2015. A public competition will be announced to find a new CEO.