OP Financial Group, Finland’s largest bank, has named Timo Ritakallio its new president and executive chairman. Ritakallio, 55, will join OP from Ilmarinen Mutual Pension Insurance Company, where he currently acts as president and CEO.
Reijo Karhinen, who has headed OP since 2007, will retire in January and Ritakallio will take his position in March 2018. OP made a pretax profit of 1.138 billion euros in 2016.