eQ Group Names CEO Jouko Pölönen to Lead Asset Management in Management Team Overhaul

Helsinki-based eQ Plc has renewed its management structure, appointing Group CEO Jouko Pölönen to lead eQ Group's asset management business and to serve as CEO of eQ Asset Management Ltd, effective Oct. 23, 2026. The company announced the changes in a stock exchange release issued at 8:10 a.m. that day.

Tero Estovirta, the current CEO of eQ Asset Management Ltd, is leaving the company. The heads of the asset management business areas will join the Group's Management Team and report directly to the CEO, the company said. eQ said the restructuring is intended to strengthen the implementation of its strategy and clarify management roles.

eQ Group Management Team Restructured

Under the new structure, all of eQ's operational activities will be represented in the same Management Team. According to eQ, the changes are designed to support its 2030 growth strategy, accelerate decision-making and bring the heads of the asset management business areas and fund administration into the Group's Management Team.

The Management Team as of Oct. 23, 2026, comprises:

• Jouko Pölönen, CEO of eQ Plc and Managing Director of eQ Asset Management Ltd
• Jacob af Forselles, Managing Director of Advium Corporate Finance Ltd
• Kirsi Hokka, Customer Relations and Sales, Finland
• Pertti Vanhanen, International Business, Customer Relations and Sales
• Staffan Jåfs, Private Equity
• Jennifer Eloheimo, Real Estate, Finland
• Veli-Pekka Heikkinen, Equity and Fixed Income
• Annamaija Peltonen, Managing Director of eQ Fund Management Company Ltd
• Antti Lyytikäinen, Finance and Risk Management
• Taina Kyllönen, Human Resources and Communications
• Arimo Leppä, Technology and Development
• Juha Surve, Legal and Compliance

Eloheimo, Jåfs, Heikkinen and Peltonen are welcomed to the Group's Management Team under the new structure. Eloheimo will continue to be responsible for the real estate business in Finland.

Genesta Property Nordic Acquisition Drives Reorganization

eQ signed an agreement on Oct. 23, 2026, to acquire Genesta Property Nordic AB. The company said the acquisition is expected to strengthen eQ's platform for international growth and expand its real estate asset management operations into a Nordic business. eQ has described the deal as the first step toward an international private-markets platform.

Vanhanen, who is responsible for eQ's international business, customer relations and sales, will be responsible for the integration of Genesta and for international real estate investments.

Executive Comments

"Pertti Vanhanen, who is responsible for eQ's International Business, Customer Relations and Sales, will be responsible for the integration of Genesta and international real estate investments. Jennifer Eloheimo will continue to be responsible for the Real Estate business in Finland. I would therefore like to welcome Jennifer, as well as Staffan Jåfs, who heads Private Equity, Veli-Pekka Heikkinen, who heads Equity and Fixed Income, and Annamaija Peltonen, who heads Fund Administration, to the Group's Management Team," Pölönen said.

Pölönen also thanked Estovirta. "Tero has played a key role in building eQ into Finland's leading real estate asset manager and trusted asset management partner. This provides a solid foundation for the international expansion of our Private Markets business," he said.

Estovirta said the organizational changes are "the right and natural next step in eQ's development." He said he appreciated being offered the opportunity to continue with the company under the new structure but decided to pursue new opportunities. "My more than 12 years at eQ have been an exceptionally rewarding journey," Estovirta said.

Financial Context for eQ's Real Estate Business

eQ's assets under management totaled €13.9 billion at the end of September 2026, up from €13.8 billion at Dec. 31, 2025. Assets under management excluding reporting services fell 3% year over year to €9.8 billion.

Asset management net revenue declined 1% year over year to €28.4 million in the first half of 2026, which the company attributed to lower real estate asset management fees. Real estate generated €10.3 million of fee income in the period, down 7% from the comparable period, while total fee income was €28.7 million. The company reported total managed assets of €14.3 billion at June 30, 2026, compared with €13.8 billion at year-end 2025.

Finnish Office Market Backdrop

The restructuring comes as the Finnish office market remains under pressure. Helsinki Metropolitan Area office vacancy was approximately 18.3% in the first quarter of 2026, with more than 1.5 million square meters vacant. Vacancy varied by submarket: Keilaniemi stood at 12.8%, Pasila at 9.5% and Hakaniemi at 14.6%, while Sörnäinen and Pitäjänmäki reached 28.7% and 28.0%, respectively.

Prime Helsinki central business district rent was approximately €48.50 per square meter per month, while the prime CBD yield widened to 5.75%, up 25 basis points year over year and quarter over quarter. Finnish office investment totaled only €34 million across four deals in the third quarter of 2026.

Overall transaction activity was stronger. Finnish transaction volume reached approximately €3.4 billion in the first half of 2026, more than double the prior-year level, although office demand lagged other property sectors. Industrial and logistics investment totaled €498 million in the third quarter, representing 63% of Finnish commercial real estate volume.

Outlook

The Genesta Property Nordic acquisition gives eQ a Nordic real estate asset management platform at a time when its Finnish real estate fee income has declined. Whether the transaction and the consolidated management structure translate into new Nordic mandates and fee income will determine how the changes affect eQ's results.

eQ is a Finnish group focused on asset management and corporate finance. Its subsidiary Advium Corporate Finance provides services related to mergers and acquisitions, real estate transactions and equity capital markets. eQ Plc's shares are listed on Nasdaq Helsinki.

Sources

• eQ Plc stock exchange release, Oct. 23, 2026: https://www.eq.fi/en/funds/news/2026-10-23_3