Banker Rain Lõhmus wins Äripäev’s Businessman of the Year Award

23.12.2011, 10:06

Äripäev has named Rain Lõhmus, the owner of LHV Bank, businessman of the year 2011.

According to the paper’s editors, Lõhmus deserves credit for building up a bank based on Estonian capital and for not being afraid to challenge large Swedish banking groups operating in Estonia.

Among others, Lõhmus has said that he wants LHV to become profitable in three years and to eventually list it on the stock exchange. LHV is already more successful than competitors in managing pension funds.

In the online vote held among Äripäev readers, Lõhmus got a third of the votes. He was followed by Urmas Sõõrumaa and third was Alar Tamming.

Last year’s nomination went to property businessman Hillar Teder who is the most successful Estonian businessman operating in Russia and Ukraine. The O’Key supermarket chain that he helped to found was listed last year.

Estonia’s businessman of the year in 2009 was Jüri Käo, chairman of NG Investeeringud.