Martins Kazaks appointed Bank of Latvia president

  • 2019-12-12
  • LETA/TBT Staff

RIGA - The Saeima today appointed Martins Kazaks to the position of the Bank of Latvia president.

The decision was supported with 76 votes.

Kazaks will take up the position on December 21 when the term of the office of incumbent Bank of Latvia president Ilmars Rimsevics expires.

Kazaks presently is a member of the Bank of Latvia supervisory council. He holds a Bacherlo's degree in Economics from University of Latvia, Diploma in Economics from University of Cambridge, MSc (with Distinction) and PhD in Economics from Queen Mary University of London.

Earlier he was the leading economist in the Finance Ministry's macrofiscal analysis and forecast department, research assistant in the Riga office of International Research and Exchanges Board.

Also, in 2005-2009 he was the Baltic Banking Chief Macro Analyst at the Hansabank Group (now Swedbank). In 2010-2018, he was Deputy Chief Economist of the Swedbank Group, Chief Economist of Swedbank Latvia and Head of Macro Research Baltics of the Swedbank Group. 

Kazaks has lectured at the Stockholm School of Economics in Riga (1996–2008), the University of London, Riga Stradins University and Riga Business School.

He has been a member of the following bodies: the Strategic Analysis Committee of the President of Latvia (2006–2011), Counselor Convention of BA School of Business and Finance, Counselor Convention of Liepaja University and Fiscal Discipline Council of the Republic of Latvia (2014–2018). He is a member of the Economists Association 2010 and National Association for Business Economics (USA).

The coalition discussed a number of candidates for the position, and finally agreed to put forward Kazaks for the president of the Bank of Latvia.