Pajula steps down as chief macroanalyst of SEB in Estonia

04.05.2012, 11:21

Hardo Pajula, one of Estonia’s most influential economic analysts who until recently was chief macroanalyst of SEB in Estonia, is leaving SEB, writes Äripäev.

“The employment relationship between me and SEB has ended mainly because I got tired of dancing for everyone. I guess I need to do something to survive in the future, but expressing an opinion on a daily basis in this backwater pond is clearly too much,” said the outspoken analyst in comment.

Pajula’s position as chief macroanalyst of SEB in Estonia will be taken over by Ruta Arumäe who has returned from parental leave.

Last month Pajula created a major debate when he published an article in which he said that Estonia must be ready that its economic climate worsens rapidly over the next three to four years.

Pajula said that he does not have to advertise his services. “Wealthy customers can find me,” he said.

In 2010, Pajula took out 200,000 kroons in dividends from his private consultancy Monadero that was founded in 1998. At present the company’s retained earnings amount to 597,043 kroons.

Reminding different job offers he has received in the past, Pajula said that one of the funniest job offers was a role in a TV reality show “Free yourself from debt”.

“My response was the same that famous Estonian rock star Onu Bella gave to the proposal of the Tartu Canned Food Plant to name one of its spring salars to Onu Bella Salad: “It may hurt my image,” said Pajula.

Pajula’s earlier record includes employment as economic adviser to the prime minister, an economist in Hansabank and PriceWaterhouseCooperas and a
lecturer in Estonian Business School.