Pohjola Pankki Oyj : Jaakko Pehkonen Elected Chairman of the Supervisory Board
of OP-Pohjola Group
Press release, 22 March 2013
Professor Jaakko Pehkonen is a new Chairman of OP-Pohjola Group's Supervisory
Board. He has been member of the Supervisory Board since 2008 and Vice
Chairman since 2009.
Jaakko Pehkonen (b. 1960) has acted as professor in economics at the
University of Jyväskylä, School of Business and Economics (JSBE) since 1998.
He received a doctoral degree at the University of Jyväskylä in 1990 and has
an extensive and distinguished academic career. In his research work, Pehkonen
specialises in empirical economics. He acted as the first Vice Rector of the
University of Jyväskylä during 2010-12 and member of the Board of Directors
and the Dean of the JSBE during 1999-2008. He was also a member of the
Research Council for Culture and Society of the Academy of Finland, a member
of the Scientific Committee and the Employment Working Group (headed by the
then Permanent Secretary of State, Raimo Sailas) of the Ministry of Finance.
In addition, Pehkonen has sat on several boards of directors and held experts
positions in several companies and organisations.
At OP-Pohjola, Pehkonen has acted as Vice Chairman of the Board of OP-Pohjola
Group Research Foundation and of the Kyösti Haataja Foundation since 2009.
While the former foundation supports economic research, especially that into
cooperative banking, the latter foundation supports research into financial,
social and judicial conditions among rural population, especially among
The Cooperative Meeting is OP-Pohjola Group Central Cooperative's highest
decision-making body. Held in Helsinki on 22 March 2013, the Meeting adopted
the financial statements for 2012, discharged those accountable from liability
and elected Supervisory Board members for a three-year term ending in 2016. It
confirmed the number of Supervisory Board members at 33.
The Supervisory Board is tasked with supervising OP-Pohjola's corporate
governance, managed by the Executive Board and the President, and ensuring
that OP-Pohjola's operations are managed in a professional and prudent manner
in accordance with the Co-operatives Act and in the best interests of
OP-Pohjola and OP-Pohjola Group. In addition, the Supervisory Board shall, for
example, confirm OP-Pohjola Group's strategy and other shared goals and
policies, OP-Pohjola's operational goals and financial targets, appoint and
discharge Executive Board members and deputy members and decide on the
remuneration and division of responsibilities of the Executive Board members.
For more information, please contact:
Carina Geber-Teir, Chief Communications Officer, tel. +358 (0)10 252 8394
OP-Pohjola Group is Finland's leading financial services group providing a
unique range of banking, investment and insurance services.The Group's mission
is to promote the sustainable prosperity, well-being and security of its
owner-members, customers and operating regions through its local presence.Its
objective is to offer the best and most versatile package of loyal customer
benefits on the market.OP-Pohjola Group consists of some 200 member
cooperative banks and the Group's central institution, OP-Pohjola Group
Central Cooperative, with its subsidiaries and closely-related companies, the
largest of which is the listed company Pohjola Bank plc.The Group has a staff
of over 13,000.OP-Pohjola Group posted earnings before tax of EUR 601 million
in 2012 and had total assets of EUR 99.8 billion on 31 December 2012. The
Group has over four million customers.
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Source: Pohjola Pankki Oyj via Thomson Reuters ONE
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