FINLAND – Jari Puhakka, head of securities at Ilmarinen Mutual Pension Insurance Co., has left to join the new OKO-Pohjola Asset Management Co.

“He will be the CIO of the new OKO-Pohjola Asset Management company,” Ilmarinen chief investment officer Jussi Laitinen told IPE – adding that he wouldn’t be replaced for the moment.

Ilmarinen has a bond portfolio of around €9.3bn and equities worth some €5.2bn.

In September OKO Bank bought a 58% stake in rival Pohjola Group from Ilmarinen and Suomi Mutual for around €1.2bn.

Ilmarinen has some €18bn in assets and is a multi-industry pension insurance company which manages statutory pensions for 400,000 people.

In October IPE reported that the roughly €400m pensions arm of Finland Posti - Finland Post Pension Fund – was to be closed down following the outsourcing of its entire statutory and supplementary divisions to Ilmarinen and Pohjola Life respectively.


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