Simonas Krėpšta appointed as Member of the Board of the Bank of Lithuania
Thirty‑seven-year-old economist Simonas Krėpšta appointed as the new Member of the Board of the central bank. Over the past two years, Mr Krėpšta served as Chief Adviser to the President and was Head of the Economic and Social Policy Group of the presidential office. Previously, Mr Krėpšta worked at the Bank of Lithuania for more than a decade.
Simonas Krėpšta started his professional career in one of Lithuania’s commercial banks in 2006. In 2008–2019, he worked at the Bank of Lithuania – having started his career there as Economist at the Financial Stability Division, he later held senior positions as Head of the Macroprudential Policy Division of the Financial Stability Department and Director of the Financial Stability Department. The department was responsible for conducting financial stability analysis, macroprudential policy implementation, stress testing as well as bank resolution planning and implementation. Simonas Krėpšta served as a representative of the Bank of Lithuania at the Instruments Working Group of the European Systemic Risk Board and at the Macroprudential Policy Group of the Financial Stability Committee of the European Central Bank.
For the last couple of years, he chaired the Economic and Social Policy Group of the presidential office, which coordinates economic, financial, innovation, health and social policy issues.
Simonas Krėpšta holds an International Executive MBA from the Baltic Management Institute (BMI) as well as Bachelor’s and Master’s degrees in Economics (Finance and Banking) from Vytautas Magnus University. He also studied at Cracow University of Economics under the Lithuanian-Polish bilateral cooperation agreement. For several years, he worked as a lecturer in Financial Intermediation (Master’s programme) and International Finance (Bachelor’s programme) at ISM University of Management and Economics. Mr Krėpšta also completed his traineeship at the Bank of England as well as deepened his financial knowledge in other internships and trainings.
The Board of the Bank of Lithuania consists of 5 members. In addition to Simonas Krėpšta it currently comprises 4 other members: Gediminas Šimkus, Chairman of the Board, Asta Kuniyoshi and Raimondas Kuodis, Deputy Chairs of the Board, and Marius Jurgilas, Member of the Board.
Pursuant to the Republic of Lithuania Law on the Bank of Lithuania, Deputy Chairs and Members of the Board are appointed for a for six-year term by the President of the Republic of Lithuania upon nomination by the Chairman of the Bank of Lithuania.