LHV Bank names Rachelle Frewer as new CFO
LHV Bank has appointed Rachelle Frewer as its new chief financial officer (CFO), effective 2 January 2024, subject to regulatory approval.
Rachelle Frewer, new CFO of LHV Bank
Frewer will also join LHV Bank’s board of directors, replacing current CFO, Gary Sher, who will step down on 8 September.
With over two decades of experience as a finance professional, Frewer joins from Moneycorp Bank, a currency exchange company, where she has served as the CFO and board member since June 2022.
Prior to Moneycorp, Frewer worked as CFO at Wyelands Bank. As an accountant, Frewer has also served in senior roles at various financial institutions including C Hoare & Co, Lloyds Banking Group, HSBC, Standard Chartered Bank and KPMG. Her areas of expertise include strategic planning and analysis, finance, treasury, operations, investor relations, and compliance.
Commenting on the appointment, Erki Kilu, CEO of LHV Bank, says Frewer “will drive our financial strategy to support our business expansion, particularly as we increase our SME lending activities and prepare to start accepting retail deposits”.
In May, LHV Bank secured a banking licence from the UK’s Prudential Regulatory Authority (PRA), the first company to receive a UK licence without restrictions in 2023. It offers real-time multi-currency payments, accounts, acquiring, indirect scheme access, open banking, and FX solutions, and claims over 200 fintechs as clients.
LHV Bank now intends to broaden its customer base by offering its solutions to e-commerce businesses and start accepting retail deposits later this year.
