Changes in the Management Board of Coop Pank AS and the Supervisory Boards of its subsidiaries

The Supervisory Board of Coop Pank AS has elected Moonika Maaring, currently Head of Everyday Banking in the Private Clients segment at Coop Pank, as a new member of the bank’s Management Board. Her term of office as Head of Retail Banking and Member of the Management Board will commence on 1 November 2026 and will last for three years.

Moonika Maaring was also elected as a member of the Supervisory Boards of Coop Pank AS subsidiaries Coop Liising AS and Coop Kindlustusmaakler AS. Her terms of office in these roles will also commence on 1 November 2026 and will last for three years.

According to Arko Kurtmann, Chairman of the Management Board of Coop Pank, appointing a new Management Board member from within the bank helps ensure continuity and build on the bank’s progress to date.

“It is important to us that we can provide our people with opportunities to grow and take on greater responsibility within the organisation. Moonika Maaring knows both our bank and our customers well and has extensive experience in the Estonian banking sector. Moonika’s in-depth understanding of retail banking and its development gives us confidence that she will excel in her role as a member of the Management Board and contribute to Coop Pank’s continued development,” said Kurtmann.

Moonika Maaring holds a degree in International Business Administration from EBS, with a specialisation in marketing. She has extensive management experience in banking, insurance, sales and service processes, customer experience, and product and service development.

Maaring joined Coop Pank on 1 April 2024. Prior to that, she served as Head of Retail Banking at LHV Pank and held various other management positions. She has previously worked at Swedbank P&C Insurance and Salva Kindlustus.

Moonika Maaring holds 52,400 Coop Pank share options but does not own any shares or bonds of Coop Pank.

Karel Parve, the current Head of Retail Banking and Member of the Management Board of Coop Pank, announced in August that he would not seek an extension of his term of office upon its expiry. His term of office will expire as scheduled on 31 October 2026.

The Management Board of Coop Pank consists of six members: Chairman of the Management Board Arko Kurtmann, Chief Financial Officer Paavo Truu, Chief Risk Officer Heikko Mäe, Chief Information Officer Alvar Pihlapuu, Head of Corporate Banking Lehar Kütt, and Head of Retail Banking Karel Parve, whose term of office will expire on 31 October 2026. From 1 November 2026, Moonika Maaring will serve as Head of Retail Banking and Member of the Management Board.

Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. The bank has 239,100 clients who use everyday banking services. Coop Pank uses the synergy created between retail trade and banking and brings everyday banking solutions closer to people. The majority shareholder of the Bank is a domestic retail chain Coop Eesti, the sales network of which comprises over 330 stores.

Additional information:
Ave Tammeniit
Communications Manager
Coop Pank AS
Phone: +372 5887 4828
Email: ave.tammeniit@cooppank.ee