Aivaras Abromavičius

Aivaras Abromavičius
5th Minister of Economical Development and Trade
In office
2 December 2014 – 14 April 2016
Prime Minister Arseniy Yatsenyuk
Preceded by Pavlo Sheremeta
Succeeded by Stepan Kubiv
Personal details
Born (1976-01-21) 21 January 1976
Vilnius, Lithuania
Alma mater Concordia International University Estonia
Concordia University Wisconsin

Aivaras Abromavičius (Ukrainian: Айварас Абромавичус, born 21 January 1976) is a Lithuanian-born Ukrainian investment banker and politician. He was Ukraine's Minister of Economy and Trade since December 2014. Abromavičius announced his resignation on 3 February 2016. He did not retain his post in the Groysman Government that was installed in 14 April 2016.[1]

Biography

Abromavičius was born in Lithuania, but lived in Estonia, Sweden, USA and Russia for many years. He was educated in Lithuania later obtaining a BA in international business from Concordia International University Estonia and Concordia University Wisconsin.[2] He started his career in finance in 1996 at Hansabank (Swedbank). During 2002-2014, he co-owned and was at the core of building a Stockholm-based investment company East Capital, one of the largest and most reputable Investment companies from Western Europe investing in Eastern Europe. After the Revolution of Dignity in Ukraine, Aivaras, a Lithuanian national, was asked to serve as Minister of Economic Development and Trade of Ukraine.

Ukrainian President Petro Poroshenko granted citizenship to Abromavičius, Natalie Jaresko and Alexander Kvitashvili on 2 December 2014 to allow them to serve as ministers in the Second Yatsenyuk Government.[3][4]

Over 1,5 years, he built and managed the strongest and reform-minded team in the entire government. Under his leadership a completely new Electronic Public Procurement System Prozorro was launched, which received multiple international awards and recognition and saved billions of UAH to Ukrainian tax payers. He also kick started a major State Owned Enterprise reform that included totally new CEO selection process and helped form a new and first truly independent Board of Directors at Naftogaz. He also helped start a Better Regulation Delivery Office with substantial EU funding to improve business climate in Ukraine.

Abromavičius speaks Ukrainian,[5] Lithuanian, English and Russian.[2]

On 3 February 2016, Abromavičius announced his resignation. He was finally relieved from his post when the Groysman Government was installed in 14 April 2016.[1]

In 2004 Abromavičius married a Ukrainian woman from Donetsk[6][7] and in 2008 they settled in Kiev where their three children were born.[7][8]

Currently Aivaras holds positions of Chairman of the Board at Ukrainian Corporate Governance Academy, Founding Member at Global Blockchain Business Council, Chairman of the Board Riverside Development (Riga), Member of the Board in SUP (Ukrainian Enterpreneurs' Union)

References

  1. 1 2 New Cabinet formed in Ukraine, UNIAN (14 April 2016)
  2. 1 2 Aivaras Abromavicius profile - East Capital Management, retrieved 28 Jan 2015
  3. ↑ "Poroshenko orders to grant citizenship to Jaresko, Kvitashvili and Abromavicius". Interfax-Ukraine. 2 December 2014.
  4. ↑ "Foreign technocrats given Ukrainian citizenship before cabinet vote". Reuters. 2 December 2014.
  5. ↑ Can This Man Save Ukraine's Economy? - Bloomberg, 5 January 2015
  6. ↑ Jokūbaitis, Marius (4 December 2014). "Pilietybės netenkantis lietuvis: "Ukrainai manęs reikia labiau"" [On losing his Lithuanian citizenship: "I'm needed more in Ukraine"]. Lietuvos rytas (in Lithuanian). Archived from the original on 10 December 2014. Retrieved 15 December 2014.
  7. 1 2 Bonner, Brian; Verstyuk, Ivan (15 December 2014). "New economy minister stands for austerity, deregulation, privatization". Kyiv Post.
  8. ↑ Bigg, Claire (3 December 2014). "Who Are Ukraine's New Foreign-Born Ministers?". RFERL.
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