Changes in INDEXO management

Changes in INDEXO management
INDEXO Komanda

The Council of the joint-stock investment management company INDEXO has approved changes in INDEXO management – Ieva Margeviča has been appointed a member of the Board, while Iļja Arefjevs has left the Board. Chairman of the Board Valdis Siksnis and Henrik Karmo will continue to work on INDEXO Board. The changes in INDEXO management team will foster implementation of INDEXO’s strategic plans to make an initial public offering (IPO) and establish the most customer-friendly bank in Latvia. Atis Rektiņš has been appointed member of the Board at Indexo Open Pension Fund, a subsidiary of INDEXO.

“I would like to thank Iļja for his significant contribution to the development of INDEXO, almost doubling the number of the company’s customers in two years and introducing innovative solutions based on in-depth market research and technology. With Iļja at the helm, INDEXO has accumulated valuable knowledge about the use of robotics in finance, preparing for the next stage of the company’s development,” says Valdis Vancovičs, Chairman of the Council and one of the founders of INDEXO.

“I am really pleased that we have significantly strengthened INDEXO’s positions in Latvia’s pension management market over the past two years, as well as helped prepare one of the most promising fintech companies in the Baltics for listing. Therefore it is time to start a new page in the development of INDEXO as well as in my professional career,” says Iļja Arefjevs, member of the Board and Executive Director of INDEXO.

Ieva Margeviča will be in charge of INDEXO brand and marketing activities, public communication, customer support and experience, as well as investor relations after the company goes public. Previously Ieva worked for Enefit, a subsidiary of Eesti Energia power utility, overseeing the company’s marketing and communication activities in business and retail segments, helping foster competition in the market. Ieva also has international experience of promoting new products and acquiring new customer segments, defining and implementing customer experience. Ieva has a degree in financial engineering and Master’s degree in business and management.

Atis Rektiņš will take over as a member of the Board at INDEXO subsidiary Indexo Open Pension Fund, which manages the 3rd pillar of pensions in Latvia. Atis joined the INDEXO team three years ago and is responsible for business and data analytics, developing and implementing improvements to procedures and systems. Prior to that, Atis worked at Latvia’s Permanent Representation to the European Union in Brussels. Atis has a Master’s degree in hydroinformatics, as well as higher education in finance.

The candidacies of Ieva Margeviča and Atis Rektiņš for the positions of members of the board at INDEXO companies have been approved by the Financial and Capital Market Commission (FCMC).

The Register of Enterprises has been notified of the changes in the company’s management.

As reported, INDEXO plans to launch an IPO at the end of the second quarter of this year, aimed at attracting investment in order to set up a bank in addition to its existing pension management business. INDEXO will apply for a commercial banking license later this year.

Following the IPO, INDEXO shares will be listed on the official Baltic List of the Nasdaq Riga stock exchange. Further information on the IPO will be provided in the IPO prospectus, which will be submitted to the FCMC in the near future.

INDEXO was established in 2017 by a group of 30 experienced business people with an aim to bring the latest approaches in asset management to the Latvian pension market. INDEXO is built on the values of innovation, transparency, integrity, and strong business fundamentals.

More information is available here:

Bank (credit institution) license is subject to authorization granted by European Central Bank based on Financial and Capital Market Commission’s proposal.

Disclaimer: This announcement is an unpaid marketing communication in accordance with the Prospectus Regulation and does not constitute investment advice or an offer. The information provided herein contains general forward-looking statements on the intended IPO of INDEXO. Every investment decision must be based on a prospectus approved by the Latvian Financial and Capital Market Commission. An approved prospectus will be published on INDEXO website ( once available.


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