Former Swedbank chief appointed CEO of two Utilitas subsidiaries

Former Swedbank Estonia CEO Robert Kitt has been appointed CEO of two of energy group Utilitas’ subsidiaries, replacing Andres Veske.

Kitt said: “I am grateful for the trust, and I will bring with me to Utilitas my experience from the management of a service company,” adding that he also sees opportunities there for employing his physics doctoral studies in a real-world context in managing a company like Utilitas.

Utilitas is, together with the City of Tallinn, purchasing themajority stake held in Tallinn water supplier Tallinna Vesi by U.K. firm United Utilities Tallinn B.V.

Robert Kitt was suspended from his position of CEO at Swedbank Estonia in summer 2019, following a Swedbank internal audit on the back of investigative report by Swedish public broadcaster SVT which revealed around €135 billion in high-risk money moved through the bank’s Estonian branch over a 10-year period, around the same time hundreds of billions of euros in potentially illicit funds passed through the portals of the now-defunct Dankse Bank Tallinn branch.

Kitt left Swedbank for good later that year.

Utilitas board members Aulis Meitus and Janek Trumsi will stay on, while board chair Andres Veske, will continue working until March 15, before taking up a post on the supervisory board of green economy cooperation platform Rohetiiger. 

Read more: ERR.EE

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