Evli Bank Plc : Evli planning to renew its equity business

Evli Bank Plc : Evli planning to renew its equity business

Evli Bank Plc is planning changes to its capital markets unit equity business to respond to the challenges posed by the market environment.

Evli plans to shift the focus of investment research to small and medium-sized companies and to boost the efficiency of the equity business.

Evli is considering shifting the focus of the equity business to small and medium-sized Finnish companies that have not been given much attention and to the services offered to them. The goal of the plan is to generate new business and rationalize the use of existing capacity. The planned measures are estimated to improve the profitability of the equity business in a market environment that has for a long time suffered from low trading volumes.

The planned reforms require negotiations under the Act on Co-operation within Undertakings, which will commence on June 6, 2016, are expected to conclude on June 20, 2016. The measures that are being considered are estimated to require a reduction of no more than seven jobs in equity trade, execution and investment research under the Capital Markets unit in Finland. The negotiations will not concern ETF or derivatives brokerage, strategy, market making or the staff in structured products and bond brokerage.

Additional information:

Panu Jousimies, Head of Capital Markets, Finland, tel. +358 (0)9 4766 9109