Evli acquires 90 percent stake in Head Asset Management Oy
Published: 30-Sep-2015 03:15 pm
Publisher: Evli Pankki Oyj
On September 30, 2015 Evli Bank Plc has signed a contract under which Evli Bank will acquire an approximate 90 percent stake in Head Asset Management Oy. The company’s key employees will continue as minority shareholders.
Founded in 2000, Head Asset Management offers tailored asset management services to private individuals, companies and other organizations. In 2014 the company had revenue of 1.9 million euro and net profit of 0.8 million euro. The acquisition supports the growth strategy of Evli’s wealth management.
- Head Asset Management has an experienced team and a high quality service concept. It is great that the company will be part of Evli, says Maunu Lehtimäki, Evli Bank’s CEO.
- We are pleased that Head Asset Management’s new main owner will be Evli Bank. We have had a good co-operation with Evli for a long time. Due to the changes of the operating environment and increasing regulation it is natural to join forces with a larger organization. The ownership arrangement will produce excellent conditions for further developing our business, says Head Asset Management’s Managing Director, Thomas Procopé.
The closing of the transaction requires the approval of the Financial Supervisory Authority. The transaction is expected to be completed during the year 2015.
Maunu Lehtimäki, Chief Executive Officer, Evli Bank Plc, tel. +358 9 4766 9304 or +358 50 553 3000
Thomas Procopé, Managing Director, Head Asset Management Oy, tel. +358 9 25115 20 or +358 400 817 250
Evli Bank Plc
Evli is a genuine private bank specializing in investment that helps private persons and institutions increase their wealth. The company offers asset management services, capital markets related services, such as brokerage of equities and other instruments, market making, investment research and a full range of Corporate Finance service. The company also offers a comprehensive selection of funds, and bank services that support clients’ investment operations. Evli’s clients are present and future high net worth private individuals, their families and related companies, and also institutional clients, such as insurance companies, pension funds, organizations, municipal authorities and companies. Evli has a professional staff of approximately 250 employees, and has a total of EUR 8.4 billion in client assets under management (net June 2015). www.evli.com