Timo Löyttyniemi nominated to vice chair of the EU’s Single Resolution Board

Press release 19 December 2014

Timo Löyttyniemi nominated to vice chair of the EU’s Single Resolution Board

Timo Löyttyniemi, Managing Director at the State Pension Fund has been nominated as Vice Chair of the Single Resolution Board of the European Union. The vice chair’s duties include managing the department that is in charge of the Single Resolution Fund. Löyttyniemi will start in his new role by 1 March 2015, and the position is a nonrenewable post of five years.

Press release of the European Commission:

http://europa.eu/rapid/press-release_IP-14-2784_en.htm?locale=en

For more information, please contact:

VER Managing Director Timo Löyttyniemi tel: +358 (0)9 2515 7010 or +358 (0)50 336 2094

Established in 1990, the State Pension Fund VER is a fund outside the State budget, whose proceeds the State uses to prepare for the financing of future pension liabilities and the balancing of pension costs. VER is an investment organisation, and it is responsible for the professional investment of state pension funds. At the end of September 2014, the market fund of VER's investment portfolio was 17.4 billion euros.

www.ver.fi