Kilu has been elected to become chair of the management board of LHV Group’s Estonia-based subsidiary LHV Pank, effective 1 April.
He has been CEO of LHV Bank, the UK-based subsidiary of LHV Group, since January 2021 and overseen the company obtaining its UK banking licence in May 2023.
In its most recent results, LHV Bank reported that the value of its loans and deposits had more than doubled in 2025. Under Kilu’s leadership, the company also launched retail banking services.
Current chair Kadri Kiisel was recalled as chair of the management board of LHV Pank by the nomination committee.
The group said the change was in accordance with the planned decision of the supervisory board of LHV Pank. The European Central Bank will also decide on the compliance of the new chair with fitness and propriety requirements.
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Kilu will remain a member of the supervisory board of LHV Group’s subsidiary, LHV Kindulstus. Following Kiisel’s departure as chair, Kilu will be elected as a member of the supervisory board of LHV Varahaldus and chair of the supervisory board of LHV Finance.
Kiisel will cease to be a member of the supervisory boards of LHV Varahaldus and LHV Paytech, and chair of the supervisory board of LHV Finance on 1 April.
Brewster is currently LHV Bank’s director of retail banking and will also join the board. Kilu will remain on the board of directors of LHV Bank and there will be a recruitment process to find a permanent CEO.
Brewster joined LHV Bank in 2023 and has more than 20 years of experience in the banking and financial sector. He joined his current role after working at Skipton Building Society since 2010, most recently as chief commercial and strategy officer.
Before this, Brewster held senior savings roles at Bradford & Bingley and HSBC.
Reshaping LHV Group’s management and strategy
Mihkel Torim, chair of the management board of LHV Group, said: “Having the significant experience of building two banks, Erki brings back to Estonia a unique combination: a fresh international perspective and long-term experience from LHV and both of our home markets. His primary task is to provide a new perspective on LHV’s development in Estonia, to strengthen the bridge between our two banks, and to make a strong contribution to our next stage of development.
“This also allows us the opportunity to place the management of our UK bank even further into the hands of a local team that possesses direct market insight. The prerequisite for these changes is the work that Kadri has accomplished.”
Torim thanked Kiisel for her “significant effort” over the years and praised her for the growth of LHV Pank under her leadership.
Kilu (pictured) added: “LHV’s new stage of development brings several changes, where we focus on growing in three strategic directions. In Estonia, we must become even stronger; in the UK, we must actively grow business volumes; and to ensure LHV’s broader growth, move forward into other European countries after some time. To achieve this, our products and technology must be scalable.
“We are bringing the Estonian and UK banks closer together to reduce duplication and increase speed and efficiency in bringing new retail banking products to market. Global competition is swift and ruthless. If we keep clients and ambitious product development in focus, we have great opportunities for success. We will certainly continue our work with the youth. Long-term success is born from client relationships established early on. To implement all of this, we are strengthening the team by involving both younger talent and leaders with international experience. This is how we ensure the successful execution of our financial plans.”
