Mr Darius Petrauskas appointed Deputy Chairman of the Board of the Bank of Lithuania

On Friday, Reinoldijus Sarkinas, Chairman of the Board of the Bank of Lithuania, introduced the new Deputy Chairman to the staff of the Bank.

For the past six years Mr Petrauskas led the Market Operations Department of the Bank of Lithuania.His is a member of the BoL Investment Committee and has also worked in the Money Market Committee and the Fiscal and Monetary Policy Coordination Committee.Mr Petrauskas is also a member of the Market Operations Committee of the ESCB.

Mr Petrauskas was born in 1971 in Vilnius.In 1994 he graduated with honours in finance and credit from the Faculty of Economics, Vilnius University.

In 1992-1993 he worked at the Insurance Council under the Ministry of Finance.

He has worked at the Bank of Lithuania since August 1993, first at the International Department, and later at the Market Operations Department.He was appointed as head of the Department in December 1998.

During more than eleven years at the Bank of Lithuania Mr Petrauskas participated in numerous seminars and conferences on monetary policy, foreign reserve management, other central banking and public debt management as well as macroeconomic policy issues.In 1997 he worked on a placement with the Credit Suisse First Boston in the US.

Following the expiry of his six-year term of office as Deputy Chairman of the Board of the Bank of Lithuania, Arvydas Kregzde has assumed the position of the Director of Market Operations Department, Bank of Lithuania, as from 3 December.

The Board of the Bank of Lithuania consists of 5 persons:Chairman, two Deputy Chairmen and two Members.

Under the Law on the Bank of Lithuania, the Chairman of the Board of the Bank of Lithuania is appointed by the Seimas upon the nomination by the President.The Deputy Chairmen and Members of the Board of the Bank of Lithuania are appointed by the President upon the nomination by the Chairman of the Board of the Bank of Lithuania.