Vitalijus Sostak

Parex Asset Management IPAS (Parex AM) is the investment management subsidiary of Citadele banka (formerly Parex banka), one of the leading financial institutions in the Baltic Region. In August 2010 the Latvian government restructured Parex banka into the new Citadel banka, in an effort to improve the balance sheet of the bank. Based in Riga with branches and representative offices in Lithuania, Russia, Ukraine, Belarus and Kazakhstan, the firm was founded in 1992 and was formerly known as Citadele Asset Management IPAS. Pares AM offers asset management services for private individuals, corporate clients, investment funds, second and third level pension plans and insurance companies. They distribute both in-house and third-party investment products, and provide a diverse range of financial services.

CBL Asset Management IPAS is the investment management subsidiary of Citadel Banka AS in Latvia. Headquartered in Riga, the firm was founded in 2002 and provides state-funded pension plan management, proprietary investment fund management and portfolio management for private, corporate and institutional clients, both local and international.

Parex Asset Management UAB (Lithuania) (PAM) is an asset management firm based in Vilnius, Lithuania. Founded in 2004, they are a wholly-owned subsidiary of Parex Asset Management IPAS (Latvia) which in turn is part of the Parax Group, one of the Baltic Region's largest independent financial institutions. PAM is the manager and advisor of investment portfolios, supplementary pension funds, mutual funds, and also investment firms with variable capital and collective investment undertakings of limited distribution. They also offer in-house products and financial products from renowned fund managers worldwide.