RAIMO VALO APPOINTED TO HEAD UP GLITNIR’S RUSSIAN INVESTMENT MANAGEMENT
FIM Group Corporation STOCK EXCHANGE RELEASE June 11, 2007
RAIMO VALO APPOINTED TO HEAD UP GLITNIR’S RUSSIAN INVESTMENT MANAGEMENT
Raimo Valo, LL.M. Master of Laws, has been appointed to head up Glitnir’s investment and asset management operations in Russia effective as from August 2007. Raimo Valo, Head of Investment Management Russia, will report to Jan Forsbom, Executive Vice President, Glitnir Investment Management.
Raimo Valo will step into the position from his current post in Moscow as head of Svenska Handelsbanken’s operations in Russia and the former CIS countries. Valo was involved in setting up the Moscow branch and served as its Managing Director as from 2004. Valo transferred to Moscow from a similar position in Poland. His previous tasks have included establishing and heading up emerging market units at Svenska Handelsbanken and Merita.
The FIM investment services group has been part of Icelandic financial group Glitnir since March 2007 and FIM’s asset management operations are reported as part of Glitnir Investment Management as of April 1, 2007. FIM’s subsidiary established to carry on asset management and mutual fund operations in Russia received an operating licence in August 2006. At the beginning of 2007, the FSFR, Russia’s financial markets regulatory authority, approved the statutes of FIM’s first local funds which are being launched during Q2 2007.
Raimo Valo, Head of Investment Management Russia:
I am enthusiastically looking forward to building up Glintir’s operations in Russia. FIM’s products are a great fit for the growing markets of Russia, and this is an excellent time to start up mutual fund operations. Our goal is to harness the existing infrastructure to forge an efficient sales network for Russia.
Jan Forsbom, EVP, Glitnir Investment Management:
The Russian middle class is rapidly becoming more affluent. We seek to benefit from this growth in Glitnir’s Investment Management. We are presently starting up local funds and we believe that demand for our investment management services will see vigorous growth in Russia in the years ahead. Raimo Valo has strong local experience and market knowledge. We are very satisfied to have him on board to bolster our expertise in investment services.
FIM Group Corporation
Risto Perttunen
CEO
For additional information, contact:
Raimo Valo, Head of Investment Management Russia
mobile +79 16 5095114
Jan Forsbom, Executive Vice President, Glitnir Investment Management
mobile +358 50 531 9292
Risto Perttunen, CEO, FIM Group Corporation
Tel. +358 9 6134 6303
Bjorn Richard Johansen, Managing Director, Corporate Communications, Glitnir banki hf.
Tel: +47 2282 5693
bjr@glitnir.no
Distribution:
Helsinki Stock Exchange
Principal media
www.fim.com
FIM is a growing investment services group that offers asset management, brokerage and investment banking services for private individuals and organizations. Since March 2007 FIM is part of the Icelandic financial group Glitnir (www.glitnirbank.com). In addition to the head office in Helsinki, FIM has regional offices in Espoo, Jyväskylä, Kuopio, Lahti, Oulu, Riihimäki, Tampere, Turku and Vaasa. FIM also operates in Stockholm and Moscow. The company had net
sales in 2006 of EUR 82.0 million, and it posted operating profit of EUR 19.1
million. FIM had a payroll of 284 employees at the end of 2006. www.fim.com