Ilmarinen has hired the chief executive of FIM Group, Mikko Mursula, as its new CIO, following the promotion of Timo Ritakallio.
Mursula will join the €30bn pensions mutual no later than June next year, stepping into the role four months after Ritakallio is set to succeed Harri Sailas as chief executive and president of Ilmarinen.
Commenting on the appointment, Ritakallio said: “Mikko Mursula has extensive and diverse experience of the investment markets, the ability to lead a demanding expert organisation, and he is well networked in both the Finnish and international capital markets.”
Mursula is no stranger to Ilmarinen, having worked at the pension provider for a decade prior to joining FIM Asset Management in late 2010.
He was promoted to chief executive of FIM Group in September 2013, three years after leaving the mutual to become managing director at FIM Asset Management.
With a total of 20 years of experience in the investment management industry, Mursula initially joined Ilmarinen as equity portfolio manager in 2000.
In early 2003, he was promoted to head of equities, overseeing a team of seven in charge of a €7bn portfolio. In 2007, he was then promoted to head of listed securities at Ilmarinen, a role he held until he joined FIM.
He began his career at KPMG in 1992, working at AG Private Bankers and Opstock Securities.