The council of Citadele Bank has appointed Aldis Paegle to the bank's board. He will be responsible for the management of finances and resources, previously served as the director of the Financial Division, and has worked for the bank for seven years. Board member Philip Allard, who previously oversaw this sector, will now represent the bank's interests as private capital is being sought for its development. He will manage work with consultants, government institutions, regulatory institutions, and potential investors.

"We are greatful for the work Phillip Allard has done in terms of the finances of our bank," says Citadele Bank council chairman Klāvs Vasks. "We are confident, that under the leadership of Aldis Paegle the bank's team will continue to improve and develop Citadele's financial management and registration processes that are an essential component in terms of ensuring that the bank is turned over to private investors."

"The council appreciate the investment which Aldis Paegle has made in bringing greater order to the bank's financial operations and plans, doing so as head of the Citadele Finance Department and that is why the council has entrusted Aldis Paegle with the job of continuing to manage the bank's finances as a board member. He has shown that he is an appropriate and responsible professional with good professional skills that allow him to make a substantial investment in Citadele's development," Vasks continues.

Aldis Paegle entered the banking sector in 2006, and for the past three years he has served as Philip's deputy on the board. He has directed the Financial Division and the Finance and Resources Directorate. Previously he worked for the international auditing and consulting firm "Ernst & Young Baltic", mostly working on audits related to companies in the financial sector.