Märt Meerits appointed Chief Financial Officer of Arco Vara

Märt Meerits, who has nearly 30 years of experience in financial management and capital markets, has been appointed Chief Financial Officer of Arco Vara. Under the leadership of its new CEO, Kert Keskpaik, the company is focusing on improving capital efficiency and placing the profitability of development projects at the heart of its operations.

“The next phase of Arco Vara’s development will focus on the profitability of our development projects and the efficient use of capital, with the CFO playing a central role in achieving these objectives. Märt has extensive experience in financial management, capital raising and managing listed companies. Through his involvement in the Volta Quarter, he has gained first-hand experience in financing the redevelopment of a former industrial site. This experience will be particularly valuable in securing financing for the next stages of the Luther Quarter development,” said Kert Keskpaik, CEO of Arco Vara.

Meerits took up his position on 12th of  November. Arco Vara’s outgoing CFO, Darja Bolšakova, will leave the company in December by mutual agreement, ensuring a smooth handover of financial management responsibilities in the meantime.

“I would like to thank Darja for her excellent cooperation. Under her leadership, the company has automated its financial processes and successfully completed a EUR 15 million bond issue. I greatly appreciate her professionalism and contribution to Arco Vara’s development, and I wish her every success in her future endeavours,” Keskpaik added.

According to Bolšakova, her time at Arco Vara has been both exciting and rewarding. “I am pleased to have had the opportunity to contribute to the company’s development, the execution of significant financing transactions and the modernisation of its financial management. I would like to thank Arco Vara’s Management Board, Supervisory Board and the entire team for their trust and excellent cooperation. I wish Märt every success in his new role and Arco Vara continued success in achieving its future objectives,” said Bolšakova.

Before joining Arco Vara, Märt Meerits served as CFO of Cryotech Nordic, an international group of companies. In 2025, he held a fixed-term position as CFO of real estate developer Endover. During his tenure, the company launched the largest bond programme in its history to raise capital for the Volta SKAI development.

From 2019 to 2025, Meerits served as CFO of the industrial group Exmet Group. Between 2018 and 2019, he worked as a Project Manager at Endover, having previously been involved in raising capital for real estate projects at Crowdestate.

From 2010 to 2015, Meerits was a member of the Management Board of Silvano Fashion Group, a company listed on the Nasdaq Tallinn and Warsaw stock exchanges. Earlier in his career, he served as CEO and Head of Investments at the Swiss investment company Trilliance Capital. He has also been a member of the Management Board of SEB Asset Management and Head of Private Banking at SEB.

Meerits graduated from Estonian Business School and holds an Executive MBA from the Stockholm School of Economics in Riga.

“We have a strong development portfolio and significant potential, but every investment must also be justified in terms of returns and risks. Märt’s experience will help us evaluate different opportunities, identify suitable financing solutions and maintain our focus on creating long-term value for the company,” said Keskpaik.