| Industry | Finance and Insurance |
|---|---|
| Founded | Latvia (1992) |
| Headquarters | Riga, Latvia |
| Key people | Chris Gwilliam (Chairman / CEO) Solvita Deglava (Member of the Board) Jurijs Adamovics (Member of the Board) |
| Products | Financial Services |
| Employees | 2,600 |
| Website | www.parex.lv |
Parex Banka is a Latvian bank with branches in Berlin, Stockholm and Tallinn, and representative offices in Tokyo, Moscow, Kiev, Baku and other cities. The bank employs 2,600 staff in 14 countries.
In 2003, they commissioned the building of a new 150,000-m2 headquarters in Riga. In 2005, they launched the first American Express cards in Latvia. The bank has subsidiaries in Switzerland (AP Anlage und Privat Bank) and Lithuania (Parex Bankas).
In the wake of the economic crisis of 2008 Parex Bank was nationalised on November 8, 2008. The Latvian state bought 51% of the bank's stocks for symbolic 2 Lats. In addition 34% of the stocks were transferred to the state-owned Mortgage and Land Bank as a security.[1]
In August 2010 it was announced that Chris Gwilliam would replace Nils Melngailis as Chairman of the Board and CEO. [2]