Operation of Pohjola Executive Committee will discontinue on 1 October 2014 as part of the reform of OP-Pohjola Group's management system

Pohjola Bank plc
Stock exchange release
23 September 2014, at 1.30 pm

Operation of Pohjola Executive Committee will discontinue on 1 October 2014 as part of the reform of OP-Pohjola Group's management system

Pohjola Bank plc's Board of Directors has today given its approval to the plans to change OP-Pohjola Group's management system and to reform the organisation of OP-Pohjola Group Central Cooperative Consolidated.

The procedures for information and consultation of employees that were started on 12 August 2014 in the Central Cooperative Consolidated relating to this have been brought to a conclusion. These concerned 52 directors in Pohjola Group, excluding operations abroad. As a result, 41 of Pohjola Group's directors will continue in similar or new positions in OP-Pohjola Group Central Cooperative Consolidated. Of the directors who worked in Pohjola Group, 8 directors will be leaving either through layoffs or other arrangements.

The new organisation of OP-Pohjola Group Central Cooperative Consolidated will take effect on 1 October 2014. The new management system will be founded on three business segments: Banking, Non-life Insurance and Wealth Management. As part of the reorganisation, Pohjola's Board of Directors have decided to dissolve Pohjola Bank's Executive Committee, and Pohjola's operations will in future be managed in accordance with the new management system through the three business segments.

Pohjola's parent institution, OP-Pohjola Group Central Cooperative, has today published its own press release on the reform of the organisational structures of OP-Pohjola Group Central Cooperative Consolidated and the new management system.

Pohjola Bank plc
Carina Geber-Teir
Chief Communications Officer

DISTRIBUTION:
NASDAQ OMX Helsinki
LSE London Stock Exchange
SIX Swiss Exchange
Major media
pohjola.com, op.fi

For more information, please contact:
Teija Sarajärvi, Chief Human Resources Officer, OP-Pohjola Group
For any requests for interviews, please call OP-Pohjola Communications, tel. +358 (0)50 523 9904

Pohjola is a Finnish financial services group that offers its customers banking, non-life insurance and asset management services. Pohjola's mission is to promote the prosperity, security and wellbeing of its customers. Key targets include profitable growth and increasing the company's value. Pohjola Group serves corporate customers in Finland and abroad by providing an extensive range of financial, investment, cash management and non-life insurance services. For private customers, the Group provides non-life insurance and private banking services. Pohjola Bank Group's earnings before tax were EUR 473 million in 2013, and the balance sheet total was EUR 44 billion on 31 December 2013. Pohjola is part of OP-Pohjola Group, the leading financial services group in Finland The group has 4.3 million customers.
www.pohjola.com