Esa Kallio, CEO
Esa Kallio (1963, M.Sc. Econ) has been the President and CEO of MuniFin since 2018. The CEO manages the company’s day-to-day administration in accordance with the instructions and orders given by the Board of Directors (general authority). The CEO is also responsible for reporting to the Board.
Kallio has been employed by MuniFin since 2005. Prior to becoming the CEO, his responsibilities included the company’s funding, investment and treasury functions. In addition to these duties, Kallio has previously also been responsible for customer finance, marketing and communications. He has been a member of the Executive Management Team since 2005 and served as the Deputy CEO from 2007 to 2018.
Before MuniFin, Kallio worked as Treasury Director at Ahlstrom Group. He previously also held various finance-related positions within the Group, including serving as the CEO of Ahlstrom Group Finance Ltd and overseeing the Group’s European financing operations. Before joining Ahlstrom Group, Kallio worked at Kemppi Group, where he was responsible for the Group’s finance and served as a controller for foreign subsidiaries. Kallio also has experience working in customer-facing roles at banks and financial institutions.
Executive Management Team
The Executive Management Team, chaired by the CEO, addresses critical matters related to the company’s operations and serves as a conduit of information between various functions within the company. The Executive Management Team strives to ensure responsible and sustainable business practices in all aspects of the company’s operations. The Board appoints and dismisses members of the Executive Management Team upon the CEO’s recommendation.
Mari Tyster (1975, LLM) is the Executive Vice President of the Legal and Communications division and Deputy to the CEO at MuniFin. Tyster has been responsible for MuniFin’s legal and governance functions, including serving as the secretary for the Board of Directors and its committees, since 2009. In addition to these responsibilities, she has also been in charge of compliance activities, operational risk management, human resources management and outsourced internal auditing. Tyster has been a member of the Executive Management Team since 2012.
Before joining MuniFin, Tyster worked at Nokia Corporation as legal counsel specialising in corporate law. Prior to that, she had a long career in investment service corporations, including roles as legal counsel at Conventum and director of internal audit and compliance at FIM. At FIM, she also worked as a project manager for structured investment products and as the director of internal audit.
Aku Dunderfelt (1975, BBA) is the Executive Vice President of MuniFin’s Customer Solutions division. He has over twenty years of experience in the banking sector. Before joining MuniFin in 2019, he held various managerial and corporate finance roles at Handelsbanken and Danske Bank, most recently as a branch manager at Handelsbanken (2013–2019).
Toni Heikkilä (1965, Lic.Sc. Econ, M.Sc. Finance) is the Chief Risk Officer and Executive Vice President of the Risk Management and Compliance division at MuniFin. Heikkilä has been responsible for the company’s risk management and its development in the second line of defence since 2009 and for compliance activities since 2018. Heikkilä has been a member of MuniFin’s Executive Management Team since 2007.
After joining MuniFin in 1997, Heikkilä worked in various treasury and funding-related positions for an extended period, ultimately leading the Treasury unit before assuming his current role. Before joining MuniFin, Heikkilä conducted postgraduate studies and research on the finance industry.
Joakim Holmström (1977, M.Sc. Econ) is the Executive Vice President of Capital Markets and Sustainability at MuniFin and a member of the Executive Management Team. Holmström has been responsible for the company’s treasury, funding, and asset and liability management (ALM) since 2018. Since January 2021, he has also been responsible for MuniFin’s sustainability and its development at the group level. At the same time, the oversight of all capital market processes was consolidated under the division led by Holmström, and post-trade services for capital markets and the company’s payment transactions were also added to his responsibilities.
Holmström began working at MuniFin in 2008 and served as the Head of Funding for an extended period. Before joining MuniFin, he had accrued several years of experience working in corporate finance departments, including responsibilities for liquidity management and hedging currency and interest rate risks at Orion Corporation and Teollisuuden Voima Oyj. Early in his career, Holmström also worked as an auditor in the Financial Services unit at KPMG.
Harri Luhtala (1965, M.Sc. Econ) started as MuniFin’s Chief Financial Officer in 2019. As the CFO, Luhtala is responsible for the company’s financial and regulatory reporting and data management. Prior to joining MuniFin, Luhtala worked for thirty years at OP Group, most recently as the CFO.
Minna Piitulainen (1973, M.Sc. Psychology) is the Executive Vice President of Development and HR Services at MuniFin. She has worked at MuniFin since 2018. Since 2021, her responsibilities have included HR services and group development services, including the management of the development portfolio and the models, methods and tools of development. Piitulainen has been a member of the Executive Management Team since 2021.
Prior to joining MuniFin, Piitulainen held the position of HR Director at CapGemini Finland Oy and InfoCare Oy. Earlier in her career, Piitulainen worked at Tapiola Group (now LocalTapiola), where she managed a unit that provided development resources and worked as development manager and HR manager. Her responsibilities also included procuring ICT resources for Tapiola and Lähivakuutus as part of their merger.
Juha Volotinen (1975, M.Sc. Econ) is the Executive Vice President of Technology Services at MuniFin. He has long and diverse experience in banking, asset management, IT and project management. Before MuniFin joining in 2021, Volotinen worked at Aktia in various roles, most recently as the CIO. Volotinen has previously also worked at SEB and Danske Bank.