FINLAND - Timo Ritakallio has been named deputy chief executive
in charge of investments at the €21.6bn Finnish multi-employer fund Ilmarinen from August 1 this year.

He will replace Jussi Laitinen, who left the fund to earlier this year to become chief executive of the Finnish Aktia Bank. Laitinen had been chief investment officer since September 2001.

Ritakallio (pictured right) is currently the deputy chief executive of the Helsinki-base Pohjola bank and vice-chairman of the executive committee of financial services group Pohjola Group.

Elsewhere, the Finnish financial services trade body, the Federation of Finnish Financial Services (Finanssialan Keskusliitto), has lost its managing director to a pension fund.

Satu Huber (pictured right) announced earlier this month she will join Tapiola Pension as managing director in the early autumn, replacing Olli-Pekka Laine.

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