Press release from Latvijas Banka
Today the Saeima (Parliament) of the Republic of Latvia supported the proposal of Mārtiņš Kazāks, Governor of Latvijas Banka, and appointed Māris Kālis and Zita Zariņa to the Council of Latvijas Banka. Māris Kālis was appointed Deputy Governor of Latvijas Banka and Zita Zariņa was appointed member of the Council of Latvijas Banka.
For Māris Kālis, currently the Chairman of the Board of Latvijas Banka, the first day in his new capacity will be on 13 March (Zoja Razmusa’s term of office as the Deputy Governor of Latvijas Banka expires on 12 March 2020), whereas Zita Zariņa, currently a member of the Council of the State Audit Office, will commence her work at the Council of Latvijas Banka on 15 April.
Proceeding with implementing changes at Latvijas Banka, inter alia introducing a more effective management model, Mārtiņš Kazāks nominated Māris Kālis and Zita Zariņa for the vacant positions on the Council of Latvijas Banka.
Māris Kālis, is currently the Chairman of the Board of Latvijas Banka, the body in charge of the bank’s daily operation. Along with his duties as the Chairman of the Board of Latvijas Banka, Māris Kālis chairs the Investment Committee of Latvijas Banka and coordinates the implementation of any major development projects at Latvijas Banka. Prior to his employment with Latvijas Banka, he worked with the international auditing and business advisory firm Arthur Andersen. After joining Latvijas Banka team, he has played a significant role in both the development of Latvijas Banka and successful implementation of national and international projects. Māris Kālis’ professional experience has involved close cooperation with the European Central Bank, including participation in addressing issues of the Governing Council and General Council of the ECB, as well as work in international teams of experts, representing the International Monetary Fund in several technical assistance programmes in Europe. During his career with Latvijas Banka, Māris Kālis delivered lectures at the Faculty of Economics and Management (now renamed the Faculty of Business, Management and Economics) of the University of Latvia and contributed to the work of the Latvian Association of Certified Auditors.
Zita Zariņa is currently a member of the Council of the State Audit Office. Mārtiņš Kazāks points out that Zita Zariņa’s work experience in auditing and her professional qualifications and personal features will strengthen the management team of Latvijas Banka during the times of change so important for the central bank and the overall financial sector of Latvia. Zita Zariņa can provide a significant contribution to the restructuring of Latvijas Banka, inter alia also in relation to the potential incorporation of the Financial and Capital Market Commission (FCMC) in Latvijas Banka.
“In the last few months, we have been working hard implementing changes at Latvijas Banka. It is essential to strengthen the management team of Latvijas Banka, given the challenges ahead in the near future, i.e. changes in the management model; the potential incorporation of the FCMC in the central bank; the tasks of Latvijas Banka in the process of implementing changes in the financial sector, inter alia the role of Latvijas Banka in the assessment process of Latvia’s financial sector implemented by the International Monetary Fund etc. In my opinion, Māris Kālis and Zita Zariņa are the right persons who can provide significant contribution to the above,” says Mārtiņš Kazāks.
According to the Law on Latvijas Banka, the Council of Latvijas Banka consists of six persons: the Governor, the Deputy Governor and four members of the Council (for further information, see https://www.bank.lv/en/about-us/structure).
Date of publication: 5 Mar 2020
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