OP-Pohjola Group entered 2011 with a new central organisation. Accordingly, OP-Pohjola Group Central Cooperative was split into two entities of which OP-Pohjola Group Central Cooperative as the central institution is in charge of controlling and supervising the Group's business while OP-Services Ltd, a service company separate from the central institution, is tasked with the development and production of centralised services of OP-Pohjola Group and its member cooperative banks.
The majority of the staff members, or around 1,500, joined the payroll of OP-Services Ltd at the beginning of 2011. OP-Pohjola Group Central Cooperative has a staff of some 250.
This reorganisation has simplified the internal organisational system within the Group and enhanced its transparency. Business control and supervision is separate from the development and production of services, i.e. both entities focus on their specific roles. The reorganisation was aimed at increasing the Group's agility in providing product and services according to customer needs.
By means of Group control, the central institution implements decisions by the Supervisory Board representing owners while fulfilling the requirements issued by the authorities. It also guides the entire Group's product and service development in line with the jointly agreed strategy.
OP-Pohjola Group's Executive Board members comprise Executive Chairman Reijo Karhinen, Chief Business Development Officer Tony Vepsäläinen, Chief Strategy Officer Tom Dahlström, Chief Communications Officer Carina Geber-Teir, Chief Financial Officer Harri Luhtala, Chief Risk Officer Erik Palmén and Chief Administrative Officer Heikki Vitie. Chief Legal Officer Markku Koponen is the Executive Board's deputy member and Leena Kallasvuo is the Chief Audit Executive.
Harri Nummela took up his duties as OP-Services Ltd's President and CEO on 1 January 2011.
OP-Pohjola Group Central Cooperative is the central institution of the amalgamation of the cooperative banks, tasked with supervising and controlling the Group's business in line with the jointly agreed strategy, profitably and through effective risk management, as well as in compliance with the shared rules and legal requirements. It also analyses the operating environment, collects information on financial sector changes and markets and answers for the Group's corporate image, reputation, identity and brand while building the Group's shared trustworthiness.
OP-Pohjola Group's largest subsidiaries are Pohjola Bank plc, the Group's central bank, and OP-Services Ltd in charge of the Group's products and services. Others include Helsinki OP Bank Plc engaged in retail banking in the Helsinki Metropolitan Area, and OP Life Assurance Company Ltd and OP Fund Management Company Ltd.
OP-Services Ltd, a subsidiary wholly owned by OP-Pohjola Group Central Cooperative, is in charge of the development, production and maintenance of the Group's products and services. The company provides companies within the Group with business development and ICT services and services for business process management, such as ensuring the effective performance of online services and Contact Centre services, the smooth operations of banking and investment services and the production of various materials. The company's experts develop the best financial solutions and ensure their performance and quality.
For more information, please contact: Carina Geber-Teir, Chief Communications Officer, tel. 040-502 4697.