Lembit Tampere graduated from the Concordia International University, department of international business administration, in 1997 and has later studied at the Lakeland College in Wisconsin, the USA. Between 1997 and 2004 he was a project manager in the corporate finance division of Union Bank of Estonia. From 2003 he was a member of the management board of ECE Capital OÜ and director of corporate banking at SBM Pank AS. Lembit Tampere was appointed member of the management board of Arco Vara AS in 2008.