Zigurds Vaikulis

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 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.