Executive Group

Risto Murto

President and CEO
b. 1963
Ph.D. (Econ.)

President and CEO since 2014
Member of the Executive Group since 2006
Joined Varma in 2006

Key work experience:

  • Executive Vice-President, Investments, Varma 2010–2013
  • Senior Vice-President, Chief Investment Officer, Varma 2006–2010
  • Managing Director, Opstock Ltd 2000–2005
  • Director, Opstock Ltd 1997–2000

Positions of trust:

  • e2 Tutkimus, Chair of the Board 2020–
  • Securities Market Association, Chair of the Board 2022–
  • The Finnish Pension Alliance TELA, Chair of the Board 2023–
  • Nordea Bank Abp, Member of the Board 2023-
  • Sampo Plc, Member of the Board 2015–
  • Member of the Supervisory Board of the Finnish Cultural Foundation 2020–
  • Member of the Supervisory Board of Finnish National Opera and Ballet 2016–

Markus Aho

Chief Investment Officer
b. 1980
M.Sc. (Tech.)

Member of the Executive Group since 2022
Joined Varma in 2014

Key work experience:

  • Head of Private Investments, Varma 2022
  • Head of Private Equity and Infrastructure, Varma 2016–2021
  • Portfolio Manager, Private Equity, Varma 2014–2016
  • Director, Head of Private Equity, Pontos Group 2008–2013
  • Consultant, Accenture 2005–2008

Pauli Forma

Senior Vice-President, Work Ability Risk Management
b. 1970
Doctor of Political Science, Adjunct Professor, Executive MBA

Executive Group Member since 2020
Joined Varma in 2019

Key work experience:

Finnish Institute of Occupational Health 2017–2019

  • Director, Work Ability and Working Careers
  • Chief Data Officer

Keva 1999–2017

  • Director, Working Life Services
  • Research and Development Director

University of Turku

  • Professor of Social Policy 2004–2007
  • Adjunct Professor 2001–

University of Helsinki

  • Adjunct Professor 2007–

Suvi Hintsanen-Kärpijoki

Senior Vice-President of Client Services
b. 1967
M.Sc. (Econ.)

Member of the Executive Group since 2019
Joined Varma in 2019

Key work experience:
OP Financial Group, Helsinki 2001–2018:

  • Head of Payments and Daily Banking, Banking
  • Head of Cash Management and Trade Finance, OP Corporate Bank plc
  • Senior Vice President, Business Development, Pohjola Bank plc and OP-Services Ltd
  • Senior Vice President, Customer Relations and Marketing, Pohjola Bank plc and Pohjola Group
  • Business area director, development director and consultant, 1998-2001 TNS Sifo, Stockholm

Tuula Kallio

Senior Vice-President, Pension Services and Legal Affairs
b. 1961

Member of the Executive Group since 2022
Joined Varma in 2018

Key work experience:

Chief Legal Counsel, Varma 2018–2021

Etera Mutual Pension Insurance Company 2005–2017

  • Director, Work Ability and Pensions
  • Director, Legal Affairs, Planning and Communications
  • Director, Legal Affairs and HR
  • Head of Legal Affairs
  • Chief Legal Counsel

Mutual Insurance Company Pension Fennia 2004–2005

  • Corporate Lawyer

Varma Mutual Pension Insurance Company 1998–2004

  • Corporate Lawyer

Pension Sampo Insurance Company 1997–1998

  • Financial Manager

Sampo Insurance Company, Investments 1989–1996

  • Various responsibilities, e.g. Credit Manager, Office Manager, Collection Manager

Hanna Kaskela

Senior Vice-President, Sustainability and Communications
b. 1979
M.Sc. (Econ.)

Executive Group Member since 2023
Joined Varma in 2003

Key work experience:

  • Director, Responsible Investment and Sustainability, Varma 2022–2023
  • Director, Responsible Investment, Varma 2017–2022
  • Sustainable Development Portfolio Manager, Varma 2016–2017
  • Equity Portfolio Manager, Varma 2006–2016
  • Equity Analyst, Varma 2003–2006

Tiina Kurki

Senior Vice-President, IT and Digitalisation
b. 1961 
Master of Business Administration

Member of the Executive Group since 2012
Joined Varma in 2012

Key work experience:

  • BCIO International Banking, Nordea Bank Finland Plc 2011–2012
  • Group IT management positions, Nordea Bank Finland Plc 2008–2011
  • Vice President, TietoEnator Oyj 2002–2008
  • Department Manager and Specialist, TietoEnator Oyj 1986–2002

Pasi Mustonen

Senior Vice-President, Actuaries
b. 1964 

Member of the Executive Group since 2004
Joined Varma in 1996

Key work experience:

  • Actuary, Varma 1998–2001
  • Actuary, Sampo Pension 1996–1998

Pekka Pajamo

Senior Vice-President, Finance and Internal Services
b. 1962 
M.Sc. (Econ.)

Member of the Executive Group since 2012
Joined Varma in 2012

Key work experience:
Employment with KPMG Oy Ab 1988–2012:

  • Authorised Public Accountant 1993–2012
  • Partner, 1998–2012

Mikaela Öberg

Senior Vice-President, People and Development
b. 1979
Master of Arts

Member of the Executive Group since 2023
Joined Varma in 2023

Key work experience:

  • Chief People Officer, Remedy Entertainment Ltd, 2016–2023
  • Partner, Senior Consultant, Interim Director, Trainer, and Coach, Innovate Consulting, 2011–2016
  • HR Director, HR Manager, Nycomed Pharmaceuticals (now Takeda), 2003–2011

Eeva Hautala

Pension Adjudication Specialist
b. 1963
Bachelor of Social Services

Employee Representative since 2016

Joined Varma in 2006

Key work experience:

  • Pension Adjudication Specialist, Varma 2006–

Lasse Lindholm

Account Manager
b. 1963

Employee Representative since 2024

Joined Varma in 1999

Key work experience:

  • Account Manager, Varma 1999–

Positions of trust held by the Executive Group