piret aava

Piret Aava

  • Since 2017 founder and managing partner of Finsa (finance area).
  • Since 2017 member of the supervisory board of Tallinn Airport.
  • 2009–2017 CFO of Starman. Significant role in more than doubling the profitability and business volumes in a highly competitive market. Key role in number of M&A transactions (multiple changes in shareholding structure, acquisitions in Lithuania).
  • 2006–2009 CFO of Bigbank. Bringing financial and management accounting to a new level, arrangement of bond financing in international and local markets.
  • 2002–2006 HSH Gudme Corporate Finance Oy, execution of cross-border M&A transactions.
  • 1995–2002 Trigon Capital (formerly Hansa Investments), started as an analyst, later managing director. Execution of a number of capital raising and (cross border) M&A transactions.

Toomas Tiivel

  • Since 2020 Finsa, managing partner (business development area).
  • 2018–present Nordic Aviation Group, Chairman of the Supervisory Board; Regional Jet dba Xfly, member of the supervisory board.
  • 2017–2019 Elisa Corporation, International Digital Services, business development director. Business development of Elisa’s managed TV services outside Elisa’s home markets, including defining target markets and segments, creating the business and partnership models, product development, finding the potential customers and heading commercial implementation projects.
  • 2012–2017 Starman, different positions as COO and CEO of Estonian operations, Baltic CCO. Revenue CAGR +9% (2012-2016) while the total market did not grow. Doubling the shareholders’ investment to the company in 4 years. Acquisition of Lithuanian leading cable TV operator Cgates and cross-border merger + few smaller acquisitions.
  • 2011–2012 Bauhof, CEO of Estonian operations. Turnaround of the company from loss-making to profitable within one year.
  • 2005–2011 Tele2 Estonia, CEO. Tele2 increased its market share throughout the period, being the fastest-growing telecom operator in Estonia 2006-2008 and maintaining sustainable and profitable business during the recession 2009-2010.
  • 2004–2005 Hansabank, marketing director. Reinforcement of Hansabank’s leading market position, launch of youth brand NPNK, that was awarded as “Marketing Act of the Year”; increase of market share in youth segments from 40% to >60%.
  • 2001–2004 Tele2 Estonia, sales and marketing director. Tele2 was the fastest-growing telecom operator in Estonia 2001-2003 and was nominated TOP 1 company in Estonia by the Estonian business daily Äripäev for 3 consecutive years (2002-2004).

Egert Paulberg

  • Since 2021 business consultant at Finsa.
  • 2016-2021 Eesti Post AS, Group Financial Controller. Budgeting, controlling, cash-flow prognoses, financial reporting for management board and supervisory council, annual and intermediate reports, debt management and conducting financial courses.
  • 2011-2013 Arco Vara AS, Group Financial Controller/Acting Finance Director. Budgeting, controlling, cost accounting, cash-flow prognoses, cost-benefit analysis, inner group loan and management fee system, coordinator of assessment process of group’s assets, reports for management board and supervisory council, establishing, monitoring and enforcing financial policies and procedures, communication with auditors, banks, stock exchange and Estonian Financial Supervision and Resolution Authority (FSRA).
  • 2007-2011 Swedbank AS, Senior Risk Analyst. Financial analyses of business clients, sector and market overviews (agriculture, food processing, wood processing and forest management), member of regional loan committee, advice and training of client managers and loan committee members.
  • 2005-2007 Estonian Financial Supervision and Resolution Authority, Financial Analyst. Supervision over listed stock exchange members, taking part in FSRA IFRS related working groups, regular monitoring of financial reports.

Valdo Vaarik

  • Since 2019 Finsa, business and financial analyst
  • 2017–2018 Elisa Eesti / Elisa Teleteenused, Head of Purchasing and Logistics. Responsible for managing Purchasing and Logistics Department, planning and implementing procurement, managing warehouse processes.
  • 2007–2017 Starman, business and financial analyst. Responsible for creating company’s budget model and yearly budget, developing management accounting models, developing business processes, developing financial models for new business areas, creating monthly consolidated reports and managing purchasing, logistics and warehouse processes.
  • 2003–2006 National Audit Office of Estonia, auditor. Audit areas: public procurement and public sector real estate management.