LHV Bank, the private banking arm of Estonia’s LHV financial group, is opening a branch in London this month after getting the go-ahead by the Financial Conduct Authority.
The bank will concentrate on servicing financial intermediaries after it joins the sterling and euro payment systems.
Erki Kilu, chief executive of LHV Bank, said, “London has become one of the most important financial centres in which financial technology companies from both Europe and the rest of the world are represented. We already have a number of substantial and well-known international payment intermediaries as our clients and more will accrue in the future.”
The UK branch will be managed by Andres Kitter, a member of the management board of LHV. He has started to recruit a number of people, including customer service specialists covering compliance and money laundering prevention.