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President and CEO Mikael Silvennoinen to Resign from Pohjola

June 17, 2013 - London

Pohjola Bank plc
Stock Exchange Release
17 June 2013 at 10.00 am

President and CEO Mikael Silvennoinen to Resign from Pohjola

Mikael Silvennoinen announced today that he would resign as Pohjola Bank plc's President and CEO by the end of 2013. Acting as President and CEO since 1997, Mr Silvennoinen has resigned at his own request.

- I am grateful for having had the remarkably great opportunity to be involved in expanding and developing Pohjola's business for the last 24 years. During those years, the company has grown into one of the most successful financial services providers in Finland.

- 56 years of age and for 16 years as President and CEO. At some point in time, one starts to think of whether there is still something else that one can do. I would say that the time is ripe right now. At the beginning of 2014, I will take up a position as partner and Board Chairman of our family business IMS Talent, and will be ready to serve on corproate boards, says Silvennoinen.

- Mikael Silvennoinen's career in Pohjola's management has been extraordinarily long and highly successful until the very end. I would like to give my sincere thanks for his great performance. This resignation is lamentable but I understand his personal decision, says Reijo Karhinen, Chairman of the Board of Directors of Pohjola Bank plc.

A successor to Silvennoinen will be selected during the next few months through the standard recruitment process initiated by Pohjola's Board of Directors. Silvennoinen will remain in his position until the end of the year.

Pohjola Bank plc

Carina Geber-Teir
Chief Communications Officer

Reijo Karhinen, Chairman of the Board of Directors, tel. +358 (0)10 252 4500
Mikael Silvennoinen, President and CEO, tel. +358 (0)10 252 2549

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Pohjola Bank plc is a Finnish financial services group which provides its customers with banking, non-life insurance and asset management services. Our mission is to promote the sustainable prosperity, security and wellbeing of our customers. Profitable growth and an increase in company value form our key objectives. Pohjola Group serves corporate customers in Finland and abroad by providing an extensive range of financial, investment, cash- management and non-life insurance services. We offer non-life insurance and private banking services to private customers. Pohjola Series A shares have been listed on the Large Cap List of the NASDAQ OMX Helsinki since 1989. The number of shareholders totals around 32,000. Pohjola's consolidated earnings before tax came to 374 million euros in 2012 and the balance sheet total amounted to 45 billion euros on 31 December 2012. Pohjola is part of OP-Pohjola Group, the leading financial services group in Finland with over four million customers.

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Source: Pohjola Pankki Oyj via Thomson Reuters ONE



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