Jennifer Eloheimo Joins eQ Group Management Team as eQ Restructures Asset Management Leadership

HELSINKI — eQ Plc announced Oct. 23 that it is renewing its management structure, bringing Jennifer Eloheimo, who is responsible for the Real Estate business in Finland, into the eQ Group Management Team alongside the heads of the company's other asset management business areas.

Under the changes, Group CEO Jouko Pölönen has been appointed to lead eQ Group's asset management business and as CEO of eQ Asset Management Ltd, effective Oct. 23, 2026. Tero Estovirta, the current CEO of eQ Asset Management Ltd, will leave the company. The heads of the asset management business areas will report directly to the CEO.

Jennifer Eloheimo and Other Business Heads Join the Management Team

eQ said the restructuring is intended to strengthen implementation of its 2030 growth strategy, clarify management roles and accelerate decision-making. The company said the heads of the asset management business areas and fund administration are being brought into the Group Management Team, so that all of eQ's operational activities are represented in the same forum.

Eloheimo will continue to be responsible for the Real Estate business in Finland. She is listed in the new Management Team as Real Estate, Finland. The other new members named in the announcement are Staffan Jåfs, who heads Private Equity; Veli-Pekka Heikkinen, who heads Equity and Fixed Income; and Annamaija Peltonen, who heads Fund Administration.

"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.

Genesta Acquisition Shapes the Restructuring

The management changes were announced alongside the signing of eQ's acquisition of Genesta Property Nordic AB, which the company said is expected to strengthen its platform for international growth and expand its real estate asset management operations into a Nordic business. Genesta is a Nordic real estate investment manager founded in 2003 that manages three real estate funds with approximately €1 billion in assets under management.

The transaction has a maximum debt-free value of €15.5 million, consisting of an €11.5 million base price and an earn-out of up to €4 million. Each component is to be paid 50% in cash and 50% in new eQ shares, before purchase-price adjustments. Closing is expected by the end of the first quarter of 2027, subject to regulatory approvals.

Pertti 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.

Estovirta Departs After More Than 12 Years

Pölönen credited Estovirta with a key role in building eQ into Finland's leading real estate asset manager and trusted asset management partner, saying this provides a foundation for the international expansion of the Private Markets business.

Estovirta said he saw the organizational changes as the right and natural next step in eQ's development and that he had been offered the opportunity to continue with the company under the new structure but decided to pursue new opportunities. He cited more than 12 years at eQ.

Financial and Market Context

eQ reported net revenue of €44.5 million for the first nine months of 2026, up from €42.9 million a year earlier. Net fee and commission income was €43.3 million, compared with €43.7 million, while operating profit declined to €18.8 million from €19.4 million. In its release, eQ described the assets managed by the Group as totaling EUR 13.9 billion.

The Nordic property market has recovered unevenly. Nordic office investment reached €3.718 billion in the first half of 2026, up 6% year over year, but Finnish office investment totaled only €53 million, down 51% and described as a record low. Prime Helsinki office yields widened to approximately 5.75%, compared with about 3.90% in Stockholm's central business district and about 4.00% in Copenhagen's. Helsinki Metropolitan Area office vacancy stood at approximately 18.3% in the first quarter of 2026 and was expected to remain around 18.0% to 18.5% through year-end.

Finland's broader investment market showed some improvement in the third quarter, with total investment volume of approximately €0.8 billion, up 10% year over year, although office activity remained subdued at €34 million across four transactions.

Outlook

The restructuring places asset management, private equity, securities, fund administration and corporate finance leadership in a single management forum. Integration of Genesta, with its roughly €1 billion of real estate assets under management, will be a near-term priority, with Vanhanen leading that work while Eloheimo continues to oversee eQ's Finnish real estate business.

eQ Group is a Finnish group focused on asset management and corporate finance. Its Advium Corporate Finance unit 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, "Inside information: eQ Plc renews its management structure and the composition of its Management Team," GlobeNewswire, Oct. 23, 2026