FINLAND – Mikko Koskimies, managing director at ABN Amro’s Alfred Berg Asset Management arm in Finland, has quit with his deputy to join insurance group Pohjola.

Koskimies and Kirsi Hokka left the company two weeks ago and will start on September 1. Koskimies will head Pohjola’s whole investment services business.

Koskimies has been replaced by former head of administration Kalle Saariaho, while Hokka has not yet been directly replaced.

Last month Alfred Berg said it would simplify its structure by creating a so-called European company, or Societas Europaea. It would allow it to turn its subsidiaries in Denmark, Finland and Norway into branches of the Swedish operational company.

Koskimies’ roles include heading Pohjola’s investment services business as well as acting as president of Pohjola Asset Management Ltd. He will report to president and chief executive Eero Heliövaara.

Koskimies replaces former head of asset management Esko Torsti, who becomes chief investment officer of Pohjola Group.

Torsti takes charge of Pohjola's investment assets and property business and will continue as a member of the group executive committee. He will also continue to report to Heliövaara.

Lauri Lundström, head of Pohjola's mutual fund business and asset management marketing, Jarmo Kuisma, president of Pohjola Life Insurance Co. Ltd. and Markku Malkamäki, future managing director of Pohjola Private will report to Koskimies.

Pohjola said that as of March 31 its investment services had €12.5bn assets under management. The assets under management at Pohjola Fund Management Co. accounted for € 1.9bn.