Aktia Asset Management to become a wholly-owned subsidiary of Aktia Bank

Aktia Bank Plc

Insider information

23 December 2019 at 9.30 a.m.

Aktia Asset Management to become a wholly-owned subsidiary of Aktia Bank 

Aktia Bank Plc and Evergreen Holding Ltd, the minority shareholder in Aktia Asset Management Ltd, have reached an agreement whereas Aktia Bank Plc will acquire the minority share of 24% in Aktia Asset Management in full. As a result, Aktia Asset Management will become a wholly-owned subsidiary of Aktia Bank by the end of the first quarter 2020. The aim of the simplified ownership structure is to support the management and development of asset management in line with Aktia's updated strategy.

As consideration for the transaction Aktia Bank is planning to issue approximately 651,000 new Aktia shares which corresponds to approximately 1 per cent of Aktia’s outstanding shares. The shareholders in Evergreen Holding Ltd, who are all employees in Aktia Asset Management, will thus become shareholders in Aktia Bank, which will streamline the parties’ interests in working for an even better value development in Aktia Bank. One precondition for the right to the consideration shares is that the employees continue in Aktia Asset Management during the strategy period 2019−2023.

The arrangement is expected to have a positive annual impact of more than EUR 1 million on the results as of 2021 under the current strategic targets for growth.

“Asset management is a central focus area in Aktia's strategy where we want to be one of the leading asset managers and to determinedly seek growth within both retail customers and institutions. The goal of the simplified ownership structure is to further support our implementation of the strategy”, says Mikko Ayub, CEO of Aktia.

Aktia Asset Management is among other things in charge of the management of Aktia's funds as well as of discretionary and consultative management mandates for institutional clients. Aktia is seeking growth within asset management by developing its offering and providing its asset management expertise to a broader base both in Finland and internationally. 

“We are truly engaged in expanding our competitive offering further and continuing the internationalisation of our institutional asset management to new markets”, says Jetro Siekkinen, Deputy Managing Director of Aktia Asset Management and Head of Portfolio Management.

AKTIA BANK PLC

Further information:

Outi Henriksson, CFO, tel. 0

Mia Bengts, General Counsel, tel. 6

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Nasdaq Helsinki Ltd

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Aktia provides a broad range of solutions within banking, asset management and personal insurance. Aktia’s customers are served at branch offices and online, through mobile interfaces as well as through telephone services. Aktia's share is listed on the list of Nasdaq Helsinki Ltd. For more information about Aktia, see