Team | Avaron

Hans Albert Allik

Analyst

Experience in Emerging Europe investments since 2025

Hans joined Avaron research team as an Analyst in 2025. Before joining Avaron he founded a start-up which developed stock analysis platform for retail investors.

Hans holds B.A. degree in Business Administration from University of Tartu.

He is fluent in English and Estonian. Hans is interested in cooking and spending time in the nature.

Kaarel Kengsepp

Analyst

Experience in Emerging Europe investments since 2025

Kaarel joined Avaron research team as an Analyst in 2025. Before joining Avaron he has worked for Eesti Pank in Financial markets department, for Eesti Energia in business development department and for LHV Treasury.

Kaarel holds B.A. degree in Economics from University of Tartu.

He is fluent in English and Estonian. Kaarel is interested in playing padel and basketball. He also likes to experiment in the kitchen with new recipes.

Mikk Uusmäe

Back-Office Specialist

Experience in Back-Office operations since 2024

Mikk joined Avaron team as a Back-Office Specialist in 2024. Before joining Avaron, Mikk was working as a Senior Consultant in audit department at EY. Previously he has worked 7 years in Estonian Defence Forces.

He holds a B.A in International Relations from Tallinn University of Technology and is currently student of Applied Economics.

Mikk is fluent in English and Estonian. His main interest outside of work is music and he has played the trumpet for more than 25 years.

Karl Henri Kais

Analyst and Trader

Experience in Emerging Europe investments since 2023

Karl joined Avaron research team as an Analyst and Trader in 2023. Before joining Avaron he worked for EY audit team.

Karl holds B.A degree in Economics and Business Administration from TalTech.

He is fluent in English and Estonian. Karl is interested in reading and Brazilian jiu-jitsu.

Svetlana Jegorova

Operations Specialist and Accountant

Experience in finance and accounting since 2011

Svetlana takes care of Avaron’s back-office operations and accounting. Before joining Avaron, Svetlana has worked as a data entry specialist in the subsidiary of Admiral Markets and as an accountant in a currency exchange company.

Svetlana has achieved Accountant Level 5 qualification and professional higher education diploma from Tallinn School of Economics.

She is fluent in English, Estonia, Russian and Swedish. Her interests are horseback riding, jogging and hiking.

Luisa Müür

Investor Relations Specialist

Experience in Emerging Europe investments since 2021 Luisa joined Avaron investor relations team as an Investor Relations Specialist in 2021. She has studied business at Tallinn University of Technology, majoring in management and work organization. Luisa is fluent in English and Estonian. Her interests include Muay Thai and reading.

Maarja Härsing-Värk

Head of Back-Office & Operations

Experience in Back-Office operations since 2002 Maarja heads the Back-Office & Operations team in Avaron. She started her career as a Back-Office Specialist in Trigon Capital and later headed the team for four years. In 2007 she co-founded Avaron and joined the team as Head of Back-Office. In 2014-2015 she took a maternity leave and re-joined the team early 2016. She holds a M.A. degree in Economics from University of Tartu. Maarja is fluent in English and Estonian. Her hobbies are badminton, learning Spanish and amigurumi.

Rain Leesi

Investment Manager & Head of Research, CFA

Experience in Emerging Europe investments since 2007 Rain is a Member of the Investment Committee at Avaron. Rain joined Avaron research team as an Analyst in 2007. He is currently heading the research team. In 2019 Rain took the role of Investment Manager. He holds a B.A. degree in Business Administration from Tallinn University of Technology. Rain is fluent in English and Estonian. His interests are value investing and sports (decathlon, cross-country skiing, orienteering).

Kevin Kalle Kell

Head of Investor Relations - Institutional Investors

Experience in Emerging Europe investments since 2021

Kevin joined Avaron investor relations team as an Investor Relations Specialist in 2021. Previously he worked as a regional sales manager for a local publishing house.

Kevin has a vocational degree from Tallinn School of Economics. He is currently obtaining his B.A. degree in Financial Management at Estonian Entrepreneurship University of Applied Sciences.

Kevin is fluent in English and Estonian. His hobbies include investing (since 2016), travelling, photography and competitive road cycling.

Block "luisa-muur" not found

Silver Schmeiman

Analyst

Experience in Emerging Europe investments since 2021

Silver joined Avaron research team as an Analyst in January 2021. Previously he has worked at AS SEB Bank financial markets and operations division as a summer intern.

Silver holds B.A degree in Economics and Business Administration from University of Tartu. Silver has also passed Level I of the CFA Program.

He is fluent in English, Estonian and can speak and understand Russian on elementary level. Silver is interested in reading and beekeeping.

Maarja Kõrvek

Senior Back-Office Specialist

Experience in Back-Office operations since 2014

Maarja is Avaron’s Senior Back-Office Specialist. Maarja joined Avaron team as a Back-Office Specialist in 2014. Before joining Avaron, Maarja was working as a Chief Specialist in EU Structural Funds’ Unit at Estonian Road Administration.

She holds a M.A. degree in Finance and Accounting from Tallinn University of Technology.

Maarja is fluent in English and Estonian. Her interests are interior design, reading and sports.

Jaanika Jutt

Back-Office Specialist

Experience in Back-Office operations since 2016

Jaanika joined Avaron team as a Back-Office Specialist in 2018. Before joining Avaron, Jaanika was working as a Payment Management Specialist in the settlement team at Luminor. Previously she has worked at DNB Bank as a Loan Operations Specialist.

She holds a B.A in Business Finance and Investments from Tallinn University of Technology.

Jaanika is fluent in English and Estonian. Her interests are interior design, web design and sports.

Ingrid Kõrgema

Chief Compliance Officer, Head of Compliance, Legal & Risk

Experience in financial sector as a lawyer since 2005

Ingrid is a Member of the Risk Management as well as Responsible Investing Committee at Avaron. Ingrid joined Avaron compliance team in 2020. Before joining Avaron, Ingrid was working as a Lawyer in the investment team at Swedbank's legal division. Previously she has worked at Estonian Financial Supervision Authority and a law firm.

She holds a M.A. degree in Law from University of Tartu.

Ingrid is fluent in English, Finnish and Estonian. Her interests are dancing and theatre.

Maarja Härsing-Värk

Head of Back-Office & Operations

Experience in Back-Office operations since 2002

Maarja heads the Back-Office & Operations team in Avaron. She started her career in 2002 as a Back-Office Specialist in Trigon Capital and later headed the team for four years. In 2007 she co-founded Avaron and joined the team as Head of Back-Office. In 2014-2015 she took a maternity leave and re-joined the team early 2016.

She holds a M.A. degree in Economics from University of Tartu.

Maarja is fluent in English and Estonian. Her hobbies are badminton, learning Spanish and amigurumi.

Maksim Miruškov, CFA

Senior Analyst

Experience in financial analysis since 2015

Maksim is Avaron’s Senior Analyst. Maksim joined Avaron research team as an Analyst in June 2017. Before joining Avaron, he was working as a Business Customer Advisor in Swedbank.

He holds a M.A degree in Finance and Investments from Tallinn University of Technology. Maksim is a CFA Charterholder.

Maksim speaks English, Estonian and Russian. He is interested in sports (triathlon) & reading.

Reino Pent

Senior Analyst

Experience in Emerging Europe investments since 2011

Reino is a Senior Analyst and a Member of the Investment Committee at Avaron. Reino joined Avaron research team as an Analyst in 2011. Before joining Avaron, Reino was an Audit Associate at PricewaterhouseCoopers.

He holds a M.A. degree in International Business from Estonian Business School.

Reino is fluent in English and Estonian. His interests are basketball, photography and farm work.

Piotr Jurga, CFA

Senior Analyst

Experience in Emerging Europe investments since 2008

Piotr joined Avaron research team as an Equity Analyst in 2008. Previously he was working for Ernst & Young in Warsaw.

He holds a M.A. degree in Finance and Banking from Koźmiński University in Warsaw. Piotr is a CFA Charterholder.

Piotr is fluent in Polish and English. His interests are markets, CEE culture & politics, sports.

Meet our team

Partners and Investment Managers

Kristel Kivinurm-Priisalm

Valdur Jaht

Peter Priisalm

Rain Leesi, CFA

Research Team

Piotr Jurga, CFA Senior Analyst

Reino Pent Senior Analyst

Maksim Miruškov, CFA Senior Analyst

Silver Schmeiman Analyst

Karl Henri Kais Analyst and Trader

Hans Albert Allik Analyst

Kaarel Kengsepp Analyst

Investor Relations

Kristel Kivinurm-Priisalm Head of Investor Relations

Kevin Kalle Kell Head of Investor Relations - Institutional Investors

Support Staff

Maarja Härsing-Värk Head of Back-Office & Operations

Ingrid Kõrgema Chief Compliance Officer, Head of Compliance, Legal & Risk

Maarja Kõrvek Senior Back-Office Specialist

Mikk Uusmäe Back-Office Specialist

Jaanika Jutt Back-Office Specialist (maternity leave)

Svetlana Jegorova Operations Specialist and Accountant

Piotr Jurga, CFA
Senior Analyst

Reino Pent
Senior Analyst

Maksim Miruškov, CFA
Senior Analyst

Silver Schmeiman
Analyst

Karl Henri Kais
Analyst and Trader

Hans Albert Allik
Analyst

Kaarel Kengsepp
Analyst

Kristel Kivinurm-Priisalm
Head of Investor Relations

Kevin Kalle Kell
Head of Investor Relations - Institutional Investors

Maarja Härsing-Värk
Head of Back-Office & Operations

Ingrid Kõrgema
Chief Compliance Officer, Head of Compliance, Legal & Risk

Maarja Kõrvek
Senior Back-Office Specialist

Mikk Uusmäe
Back-Office Specialist

Jaanika Jutt
Back-Office Specialist (maternity leave)

Svetlana Jegorova
Operations Specialist and Accountant