Jouko Pölönen appointed Ilmarinen’s President and CEO

Currently, Mr. Pölönen is EVP, Banking and member of the Executive Board at OP Financial Group, CEO of OP Corporate Bank plc and CEO of the Helsinki Area Cooperative Bank. He has previously worked as CEO of Pohjola Insurance Ltd and has held senior positions at Pohjola Bank and worked as an auditor at PWC. Mr. Pölönen will take on his new position in June at the latest.

“Our selection was based on Jouko Pölönen’s strong expertise in the fields of finance and investments, economy and insurance. Pölönen has a track record of strategic management in a regulated business environment and the ability to lead change, which is of particular importance due to the merger of Ilmarinen and Etera. Under his leadership, Ilmarinen will continue to evolve into an agile and customer-oriented service company making efficient use of the opportunities offered by digitalisation,” says Mikko Helander, Chairman of Ilmarinen’s Board of Directors.

“I’m thrilled to take on my new position at a very interesting stage, with Ilmarinen becoming Finland’s leading earnings-related pension company. At the same time, digitalisation is transforming the entire financial sector, bringing new opportunities in its wake. As a mutual pension insurance company, Ilmarinen performs important work for the benefit of its customers – for the good of Finnish companies, a better working life and current and future pensioners,” Jouko Pölönen says.

Ilmarinen’s current President and CEO, Timo Ritakallio, will continue in his position until the end of February, when he will start working as OP Financial Group’s President.

The earnings-related pension company Etera will merge with Ilmarinen at the turn of the year. The merger will result in a solvent and cost-effective earnings-related pension company with the most competitive client benefits in the sector and even more diverse services. Following the merger, Ilmarinen will manage the pension cover of more than 1.1 million Finns and will be the largest earnings-related pension insurer in Finland’s private sector.

For further information, please contact:

Mikko Helander, Chairman of Ilmarinen’s Board of Directors, tel. +358 10 532 2301

Jouko Pölönen, tel. +358 50 1282

Ilmarinen’s Communications, tel. +358 010 284 2570

Attachments:

• Picture Jouko Pölönen
• Key employment terms and conditions