FINLAND - Petri Kuusisto, director of capital markets at Finnish pension insurance company Varma, is to resign and be replaced by Mikko Koivusalo.

Varma said Kuusisto would leave his duties as of August 31. Koivusalo took on his new role today, reporting to Jorma Leinonen, senior vice president of investment operations.

Koivusalo was previously director of private equity investments at Varma. That role has now been taken by 46-year-old Risto Autio.

The €21bn Varma Mutual Pension Insurance Co. is the largest earnings-related pension insurer and investor in Finland.