Coop Pank Appoints Moonika Maaring to Management Board

Coop Pank AS, one of Estonia's leading universal banks, has announced significant changes to its management structure. The Supervisory Board of Coop Pank AS has elected Moonika Maaring, currently Head of Everyday Banking in the Private Clients segment, to join the bank’s Management Board. Maaring will take up her new role on November 1, 2026, and will serve a three-year term.

Maaring’s appointment as a member of the Management Board and the Supervisory Boards of Coop Pank AS subsidiaries Coop Liising AS and Coop Kindlustusmaakler AS will commence on the same date. Her terms in these roles will also last for three years. Moonika Maaring’s extensive experience in the Estonian banking sector, coupled with her deep understanding of retail banking, makes her a valuable addition to the Management Board.

Arko Kurtmann, Chairman of the Management Board of Coop Pank, highlighted the importance of internal growth and continuity. "We are committed to providing our employees with opportunities to grow and take on greater responsibilities within the organization. Moonika Maaring’s extensive experience and knowledge of our bank and customers will be instrumental in our continued development," Kurtmann stated.

Moonika Maaring holds a degree in International Business Administration from EBS, with a specialization in marketing. Her career in banking spans various management roles, including Head of Retail Banking at LHV Pank and positions at Swedbank P&C Insurance and Salva Kindlustus. She joined Coop Pank on April 1, 2024, and has since demonstrated her expertise in retail banking and customer experience.

The current Head of Retail Banking and Member of the Management Board, Karel Parve, will not seek an extension of his term of office upon its expiry on October 31, 2026. The Management Board of Coop Pank consists of six members: Arko Kurtmann (Chairman of the Management Board), Paavo Truu (Chief Financial Officer), Heikko Mäe (Chief Risk Officer), Alvar Pihlapuu (Chief Information Officer), Lehar Kütt (Head of Corporate Banking), and Karel Parve (Head of Retail Banking).

Coop Pank, based in Estonia, is one of the five universal banks operating in the country. The bank serves 239,100 clients who use everyday banking services. Coop Pank leverages the synergy between retail trade and banking to bring closer to its customers the solutions they need. The majority shareholder of the bank is the domestic retail chain Coop Eesti, which operates over 330 stores.

This move by Coop Pank reflects its ongoing commitment to internal talent development and strategic growth. The appointment of Moonika Maaring to the Management Board is expected to contribute significantly to the bank’s future success and development.