Reverta

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Reverta AS
Industry Investment Banking
Founded Latvia (1992)
Headquarters Riga, Latvia
Key people Solvita Deglava
CEO, Chairman of the Board
Products Financial Services, Debt restructuring, Real estate investing
Employees 2,600
Website Reverta

Reverta previously known as Parex Banka is a professional distressed asset management company in Latvia. With branches in Berlin, Stockholm and Tallinn, and representative offices in Tokyo, Moscow, Kiev, Baku and other cities. The company employs 2,600 staff in 14 countries.

History[edit]

In 2003, they commissioned the building of a new 150,000-m2 headquarters in Riga. In 2005, they launched the first American Express cards in Latvia. The bank has subsidiaries in Switzerland and Lithuania.

In the wake of the economic crisis of 2008 Parex Bank was nationalised on November 8, 2008. The Latvian state bought 51% of the bank's stocks for symbolic 2 Lats. In addition 34% of the stocks were transferred to the state-owned Mortgage and Land Bank as a security.[1]

In August 2010 it was announced that Chris Gwilliam would replace Nils Melngailis as Chairman of the Board and CEO.[2]

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