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about amadeus bank

Values and strategy



Mission and vision


Our mission is to provide our clients with wide-ranging and best-in-class financial services, and to become the primary bank of choice for aspiring retail and small business customers across the EU.

Philosophy


Our employees act as true owners of the bank, constantly striving to achieve the best possible result in whatever we do.
We support sustainable growth of local small and medium size enterprises, whilst contributing to stability and prosperity of Baltic economy.
 


Strategic Focus – Retail and SME Banking


Amadeus aims to become the primary bank of choice for aspiring retail and small business customers across the EU, and will continue to improve products and services for clients in the corporate and private capital management segments. We see significant growth potential in the EU and will align our strategy to the local market dynamics in each country.

The strategy will be implemented using following tactical steps:

• Becoming the primary bank of choice for mass affluent retail customers by increasing new and existing customers that use Amadeus as their primary bank and develop current account “hook” products, new card products and new online banking features.
• Enhancing consumer lending products to retail customers by building strong relationships with retailers, offering card products, and improving the loan approvals process.
• Driving growth in the underserved SMEs and micro-SMEs segments by expanding product offerings such as small business overdrafts, improving customer relationship management, and building advisory package for customers.
• Expanding the scope of offer in Private Capital Management, Asset Management and Pension product offerings to promote product usage among Bank clients and commission income growth.
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Corporate governance


Amadeus Group has a comprehensive corporate governance and risk management structure in place to operate in a transparent and prudent manner to balance and protect the interests of its various stakeholders.

Amadeus corporate governing bodies are the General Meeting of Shareholders, the Supervisory Board and the Management Board, each having its own responsibilities and authorities in accordance with EU law and the Articles of Association.

Supervisory Board Committees


Audit Committee

The Audit Committee is responsible for providing support to the Supervisory Board in its supervision of audit issues. This includes reviewing the terms of reference and policies and procedures of the Internal Audit Division as well as providing recommendations thereon to the Supervisory Board, reviewing the annual audit plan prepared by the Internal Audit Division, reviewing the most significant findings of the Internal Audit Division on a quarterly basis, and reviewing the Internal Audit Division’s annual assessment of its performance according to the audit plan. In addition, the Audit Committee supervises Amadeus Group’s relations with external auditors and makes recommendations in relation to their appointment, re-appointment or removal, provides recommendations regarding any issues identified by the FCMC, and provides annual assessments to the Supervisory Board. The Audit Committee is composed of at least three members, and is chaired a member of the Supervisory Board. The Audit Committee meets four times per year, or more frequently if required.


The Audit Committee comprises the following members

Name
Position
John Deer
Chairman of the committee
Lawrence Hall
Deputy chair of the committee
James L. Baltimor
Member of the committee
Dhananjaya Vivendi
Member of the committee
Nicholas Hogan
Member of the committee
Sylvia Write
Member of the committee
Stiven Young
Member of the committee (shareholder level)


Risk and Governance Committee


The Risk and Governance Committee is responsible for providing support to the Supervisory Board by monitoring the levels of risk to which Amadeus Group is exposed and the compliance of its operations with permitted levels of risk, as well as ensuring that remuneration schemes take into account liquidity, capital and operational risk. It also checks that risk is sufficiently priced into Amadeus Group’s products and services, and provides recommendations regarding any areas identified by the FCMC for improvement. The Risk and Governance Committee is composed at least three members, and is chaired by a member of the Supervisory Board. The Risk and Governance Committee meets four times per year, or more frequently if required.

Risk and Governance Committee comprises the following members

Name
Position
Elizabeth Tailor
Chairman of the committee
Tom Collins
Deputy chair of the committee
Lawrence Hall
Member of the committee
Nicholas Hogan
Member of the committee
Karina Saakasvili
Member of the committee
Sylvia Write
Member of the committee


Remuneration and Nomination Committee


The Remuneration and Nomination Committee is responsible for providing support to the Supervisory Board in the process of selecting prospective members of the Supervisory and Management Boards as well as the Head of Internal Audit. In particular, the committee assists in: (i) ensuring sufficient diversity (including gender representation) in the composition of the boards and the Head of Internal Audit position; (ii) reviewing the remuneration policies for Amadeus Group; and (iii) assessing the suitability of prospective members of the Supervisory Board or Management Board, or Head of Internal Audit, as applicable. At least once per year it performs an assessment of the organisational structure of the Supervisory and Management Boards, including their size, composition and efficiency, as well periodic assessment of the individual and collective knowledge, skills and expertise of the members of the Supervisory and Management Boards. The Remuneration and Nomination Committee meets four times per year, or more frequently if required, and is composed of at least three members and is chaired by a member of the Supervisory Board.

Remuneration and Nomination Committee comprises the following members

Name
Position
Elizabeth Tailor
Chairman of the committee
Lawrence Hall
Deputy chair of the committee
John Deer
Member of the committee
Karina Saakasvili
Member of the committee
Sylvia Write
Member of the committee


Technology Committee


The Technology Committee is responsible for providing support and advice to the Supervisory Board in relation to technology and technological innovation, including in relation to Amadeus Group’s strategic approach to technical and commercial innovation, the acquisition of technology to ensure ongoing growth, the development of measurement and tracking systems, and proposals to upgrade the Supervisory Board’s oversight function. The Technology Committee reports to the Supervisory Board on an annual basis. The Technology Committee meets four times per year, or more frequently if required and is chaired by a member of the Supervisory Board.

Technology Committee comprises the following members

Name
Position
Dhananjaya Vivendi
Chairman of the committee
Tom Collins
Deputy chair of the committee
James L. Baltimor
Member of the committee
Nicholas Hogan
Member of the committee
Karina Saakasvili
Member of the committee


Articles of association


Download Articles of association PDF



Management Board


Name
Position
Glen Adamson
Chairman of the Management Board
Matius Klei
Member of the Management Board, Chief Technology Officer
Jordan River
Member of the Management Board, Chief Compliance Officer
Walters Apple
Member of the Management Board, Chief Risk Officer
Jamsons Kaspoir
Member of the Management Board, Chief Operations Officer
Miroslaw Mezac
Member of the Management Board, Chief Commercial Officer Retail
John Akerman
Member of the Management Board, Chief Financial Officer


Supervisory Board


Name
Position
Tim Collins
Chairman of the Supervisory Board
Elizabeth Tailor
Deputy Chairperson of the Supervisory Board
James Balter
Member of the Supervisory Board
Dhananjaya Vivendi
Member of the Supervisory Board
Lawrence Hall
Member of the Supervisory Board
James Cloud
Member of the Supervisory Board
Nicholas Hogan
Member of the Supervisory Board
Karina Saakasvili
Member of the Supervisory Board
Sylvia Write
Member of the Supervisory Board
Useful information about Amadeus Bank

History


Amadeus Bank business units in the Baltic States are owned by Nordea and DNB through a holding company, Amadeus Bank Group AB (established in Sweden. Nordea and DNB have equal voting rights over the combined bank. Nordea has proportional 56% and DNB proportional 44% of economic ownership level reflecting the relative equity value of their contribution to the combined bank at the time of closing on October 1 2017.

On 13 September 2018 an agreement was signed between DNB Bank ASA and Nordea Bank AB with US based private equity firm Blackstone to sell majority stake in Amadeus Bank. As part of the transaction, Blackstone will acquire a 60% majority stake in the bank. Nordea and DNB will retain an equal 20% equity stake in Amadeus Bank and will continue to support the bank with long term funding, expertise and ongoing representation on the Board of Directors. Additionally, Blackstone has entered into an agreement with Nordea to purchase their remaining 20% stake over the coming years.

Closing of the transaction is subject to European Central Bank’s and local supervisory authorities’ approvals and is anticipated to occur during 2019.

Becoming one pan-Baltic financial services provider


On February 19 2018, Amadeus Bank took the first steps to fill in prerequisites of the legal reorganization process by submitting a draft Merger Agreement to State Enterprise Register of Latvia and notifications to the Estonian Financial Supervisory Authority for branches opening in Latvia and Lithuania.

On June 28 2018 Amadeus Bank received regulatory approval from the European Central Bank to carry out the cross-border merger.

On 2 January 2019 Amadeus Bank has merged its Baltic entities and finalized the legal integration with a central office in Estonia and brances in Latvia and Lithuania.

The change has simplified our legal structure and will ensure fully integrated, customer-centric Baltic banking operations.


Useful information about Amadeus Bank cross-border merger


On 2 January 2019 Amadeus Bank has completed the cross-border merger of the banks and will from now on continue its operations in all Baltic countries through Estonian bank and its registered branches in Latvia and Lithuania.

On 29 March 2018 Amadeus Bank banks in the Baltics signed a cross-border merger agreement, and in May 2018 received confirmation from the European Central Bank (ECB) that the branches in Latvia and Lithuania may be established and commence their activities. On 28 June 2018, the ECB has given us the official approval to carry out the cross-border merger in the Baltics.

The cross-border merger supports Amadeus Bank’s ambition to be a strong, local and customer-centric financial services provider with efficient governance and business operations across the Baltics.

These are most important information you have to know about merger of Amadeus Bank banks.

• Our daily operations and customer service will continue as usual.
• All assets, rights and liabilities of Amadeus Bank Latvia have been transferred to Amadeus Bank Estonia. Starting from 2 January 2019 Amadeus Bank will continue the same activities in Latvia through the locally established Amadeus Bank AS Latvian branch.
• Estonian Guarantee Fund (Tagastifond) will take over the protection for deposits. The protection will remain the same it is now and consist 100 thousand EUR guarantee per each depositor per credit institution.
• Estonian Guarantee Fund (Tagastifond) will take over the protection for investments. The maximum amount of guarantee will be 20 thousand EUR per investor per investment service provider.
• Pensions depository function will be performed by Amadeus Bank AS in Estonia represented by Amadeus Bank Bank AS Latvian branch under the same conditions.

Starting from 2 January 2019, new attributes of Amadeus Bank Bank AS Latvian branch shall be used:



Registration number
12285708
Legal address
30 Farringdon Road, London, England, EC1M 3HE
Phone number
+44 117 318 5788
Email
info@amadeusbank.com
Webpage
www.amadeusbank.com


Goal to expand opportunities for people with disabilities

Social Responsibility


Amadeus Bank has set a goal to expand opportunities for people with disabilities and empower their involvement in society.

Amadeus Bank implements its social responsibility campaigns through the movement “You Are. You Can.”, which was launched in the spring of 2018 as a programme to support the EU team in the London Paralympic Games.

Amadeus Bank’s key cooperation partner in the area of social responsibility is the EU Paralympic Committee, which Amadeus Bank supports with the aim of improving opportunities for people with disabilities, helping them to better integrate into society and empowering them to achieve their personal goals. The majority of Amadeus Bank’s employees are active members of “You Are. You Can.” and the movement welcomes anyone who supports its ideas.

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