Finland’s largest pension fund, Keva, has named long-serving executive Maaria Kettunen as its new Chief Investment Officer, ahead of current CIO Ari Huotari’s retirement in 2026. Kettunen brings nearly 27 years of experience at Keva, most recently serving as Chief Operating Officer for Investments and Deputy CIO.
“Maaria Kettunen has extensive experience with stable and long-term investment activities at Keva. This experience and her proven ability are crucial as, in the future, the return on Keva’s investments will play an increasingly decisive role in the payment of pensions,” says Heikki Autto, Chair of Keva’s Board of Directors. Keva, which manages Finland’s largest pension fund of €73 billion, relies on profitable and secure investment management to ensure the stability of the entire pension system, Autto adds.
“Maaria Kettunen has extensive experience with stable and long-term investment activities at Keva. This experience and her proven ability are crucial…”
Heikki Autto, Chair of Keva’s Board of Directors.
Maaria Kettunen joined Keva in 1998 and has held a variety of roles within the investment function. She began her career at Keva as a fixed-income portfolio manager, then spent more than nine years as Director of Fixed Income, Currency, and Derivatives, followed by another nine years as CIO for External Equity and Fixed Income Investments. Most recently, she has been serving as Chief Operating Officer for Investments and as Deputy CIO.
“I would like to thank Keva’s Board of Directors for their trust. This role is of great societal importance, and I am pleased to be able to continue working to ensure long-term investment returns in Keva’s investment activities,” says Kettunen. “Together with Keva’s skilled and committed investment professionals, we will continue our work for the benefit of current and future pensioners,” she continues. “Strong returns are essential to cover future pension liabilities.”
“This role is of great societal importance, and I am pleased to be able to continue working to ensure long-term investment returns in Keva’s investment activities.”
Maaria Kettunen
Keva serves as Finland’s pension provider for public sector workers, including those in the state, municipal, and church sectors, and manages an investment portfolio of €70.7 billion as of the end of June. Hedge funds represented 6.5 percent of the portfolio at mid-year, with the hedge fund segment declining 4.6 percent in the first half of 2025 following a strong performance in 2024. Last year, Keva’s hedge fund portfolio delivered a return of 12.7 percent.
