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Evli Plc commences change negotiations
EVLI PLC STOCK EXCHANGE RELEASE SEPTEMBER 21, 2022 AT 10.00 A.M. (EET/EEST)
Evli Plc shall today on September 21, 2022 commence change negotiations in accordance with the Co-operation Act in Evli Plc, Evli Fund Management Company Ltd and Aurator Asset Management Ltd. The negotiations will involve the Group’s personnel in Finland in the Wealth Management and Investor Clients and Group Operations segments, excluding certain functions that are not expected to overlap with EAB Group Plc, which will merge into Evli Plc on or about October 1, 2022, and the functions of EAB Group becoming part of Evli Group on the said date.
The negotiations also involve EAB Group Plc which will merge into Evli Plc, and the personnel of EAB Asset Management Ltd, EAB Fund Management Ltd and Elite Assurance Services Ltd which will become part of Evli Group on the same date.
Evli Plc announced on May 31, 2022 the signing of a combination agreement with EAB Group Plc relating to the merger. The merger is estimated to be completed on October 1, 2022. The reorganisation plan, which aims to clarify and increase the effectiveness of Evli’s organisation emerging from the merger and from its part enable reaching the synergy targets set for the combination published in the release on May 31, 2022, will be handled in the negotiations. The plans to be handled in the change negotiations can, if materialised, lead to a reduction of a maximum of 44 permanent employment relationships. Evli aims to be able to adopt the planned organisation on or about November 11, 2022.
”Along with the possible combination of Evli and EAB Group we aim to reach yearly synergies, in the amount of approximately 8 million euro. As one part in reaching the potential synergies we have decided to commence the change negotiations, during which the plan for reorganisation of operations will be handled. The planned changes will not, if materialised, affect our strategy or standard of service. We will continue serving our clients with first-class customer service and expert resources as well as with a comprehensive product and service selection”, says Maunu Lehtimäki, CEO of Evli.
EVLI PLC
Further information:
Maunu Lehtimäki, CEO, Evli Plc, tel. +358 50 553 3000, maunu.lehtimaki@evli.com
Evli Plc
We see wealth as an engine to drive progress. We draw on our heritage, broad expertise and Nordic values to grow and manage wealth for institutions, corporations and private persons in a responsible way.
We are the leading asset manager in Finland* offering a broad range of services including mutual funds, asset management and capital markets services, alternative investment products, equity research, share plan design and administration as well as Corporate Finance services. Responsible investing is integrated in every investment decision and our expertise is widely acknowledged by our clients. Evli has Finland's best expertise in responsible investment**.
Evli Group employs around 250 professionals and Evli has a total of EUR 14.5 billion in client assets under management (net 6/2022). Evli Plc’s B shares are listed on Nasdaq Helsinki Ltd.
*Kantar Prospera External Asset Management Finland 2015, 2016, 2017, 2018, 2019, 2021, Kantar Prospera Private Banking 2019, 2020 Finland **SFR Scandinavian Financial Research Institutional Investment Services Finland 2021.
Distribution: Nasdaq Helsinki Ltd, main media, www.evli.com
