Former Hansabank trio to launch

  • 2007-08-15
  • From wire reports
TALLINN - Three well-known fund managers who quit Hansabank recently have confirmed their intention to set up their own business, according to the Aripaev business daily.

Asked if they intended to launch this fall, Paavo Pold, one of the three, went on the record to confirm the rumor.

"In principle, this is true," said Pold, whose partners will be fellow Hansabank alumni Alvar Roosimaa and Mihkel Oim.

"It's true: we're making plans, weighing different options, but the cards are still on the table and nothing's been decided yet," Pold said.

For his part, Roosimaa said that it was too early to speak about the plans and that the public will likely get to know about the new company come September.

He added that time was needed for formalities such as obtaining the necessary licenses.

Priit Poldoja, director general of Hansapank Eesti, said he was not worried by the prospect of having his former charges competing against Hansabank, and said it was testament to the grounding they had received within the company that they could be confident enough to strike out on their own.

"Of course when people go a gap is left, but it also provides an opportunity to new people," Poldoja said.