EAB Group Plc: Focusing of operations into two business areas and changes to the Executive Group

19.December 2018 10:50:00 CET

EAB Group Plc, Company Announcement, 19 December 2018, 11:50 a.m. (EET)

EAB Group Plc: Focusing of operations into two business areas and changes to the Executive Group

On 1 January 2019, EAB Group Plc ("EAB", "Company") will focus its operations into two business areas. The Company's Board of Directors has decided today 19 December 2018 upon this change to the organisational model as well as on the related changes to the Executive Group.

Previously, the Company's business operations were divided into four business areas: 1) private customers, 2) Private Banking, 3) corporate services and 4) institutional customers. In the future, EAB's business operations will be divided into two areas: private customers and institutional customers. Private Banking activities will merge with private customer operations. Corporate services will become part of CEO Daniel Pasternack's remit and will no longer be an individual business area.

The Board has also decided on changes to the composition of the Executive Group. In the future, the Executive Group operating under the CEO will comprise CFO Roman Cherkasov, Vice President Raisa Friberg, Head of Private Customer Business Area Rami Niemi, Head of Administration and HR Taavi Rissanen and Head of Institutional Customer Business Area Kristian Warras. The extended Executive Group previously in operation in the Company has been disbanded.

These organisational changes aim at clarifying the management system, enhancing leadership and at making both administration and the organisation more agile.

Board of Directors

Further information:
EAB Group Plc

Daniel Pasternack, CEO
+358 50 569 3416

Kari Juurakko, Chairman of the Board
+358 50 582 7411

Certified Advisor Merasco Ltd
Telephone: +358 9 6129 670

EAB Group offers versatile and high-quality asset management services for private investors, institutions and professional investors. The Group's parent company EAB Group Plc is listed on the First North Finland market maintained by Nasdaq Helsinki Oy (Helsinki Stock Exchanges). EAB Group uses the name Elite Alfred Berg as its marketing name. The Group companies include EAB Asset Management Ltd offering asset management activities, and EAB Fund Management Ltd acting as a fund company and authorised alternative investment fund manager. The Groups' customer base consists of individuals and corporations that are served nationwide in 14 different locations. The Group employs more than 100 investment professionals, and over 25 tied agents provide its services. On behalf of its clients, the Group manages assets of over EUR 3 billion in total. Check out EAB Group's services at www.eabgroup.fi.

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