Meet Lea Vaisalo – Velliv’s new Chief Investment Officer
In May, Lea Vaisalo stepped into her new role as Chief Investment Officer at Velliv. She is now responsible for managing approximately DKK 300 billion that our customers have saved for their retirement.
Lea joins us from her position as Head of Private Markets at Nordea Asset Management. This means she is trading her daily life in Helsinki for Velliv’s headquarters in Ballerup. Born and raised in Denmark, Lea studied Economics at the University of Copenhagen and later earned a master’s degree in Economics from Cass Business School in London. She has worked in some of the world’s largest investment banks in the UK, before returning to Denmark in 2013, where she has held roles in both banking and pension institutions.
After just over a month at Velliv, we sat down with Lea to hear her first impressions – and her vision for the future.
How has your first time at Velliv been?
"It’s been exciting to join a customer-owned company. At Velliv, there is a distinct focus on our customers and the values we stand for – and that’s something you can truly feel. Customer ownership isn’t just something we talk about – it’s embedded in the culture and in the decisions we make. Being part of this is truly inspiring."
Lea also highlights that she has joined during a time of significant uncertainty in the financial markets. However, she sees Velliv as having a strong investment team with a clear direction:
"I’m surrounded by talented colleagues who are clear on their priorities and are executing the investment strategy we adopted last year. That provides stability and direction in a volatile environment."
What are your expectations for this year’s returns?
"The markets have seen major fluctuations, with some of the largest single-day losses and gains in the past decade. This has been driven primarily by political announcements rather than underlying economic conditions."
Lea points out that there are signs the US is seeking more stable trade relations, which could provide tailwind:
"If the positive signals continue, we believe a medium-risk portfolio could deliver a positive return in 2025 – but based on the first half of the year, we expect some turbulence along the way. While we aim for a positive return, we anticipate it will be at the lower end, not reaching the highs we saw in both 2024 and 2024. Uncertainty remains high, particularly due to geopolitical tensions in Europe, Asia and the Middle East."
"We’re building on a strong foundation, and I’m pleased to have found that our core operations are robust. The new investment strategy we implemented last year has already shown promising results – even in a volatile market. That gives us a solid starting point to take the right positions and manage risk in a way that benefits our customers."
says Lea, when asked what her thoughts are on the investment area at Velliv.
Lea explains that the strategy is about creating more value for the customers’ money:
"We combine active management and strategic allocation with index investments, where it makes sense. We’re also exploring how to get more out of unlisted investments. The goal is clear: it should be more cost-effective to be a customer – without compromising on returns.
In addition, Velliv is working on adjusting the decumulation curve towards retirement:
"We’re looking into how we can increase the share of equities and similar assets to ensure better lifelong returns, thereby providing customers with greater financial security. Of course, we continue to focus on reducing risk as retirement approaches."
Customer ownership at the core
Lea Vaisalo is clear about one thing: she and her team are managing the customers’ money – and that comes with responsibility.
"At Velliv, there are no shareholders expecting dividends – it’s the customers who own the company. That gives us the freedom to focus on what truly matters: creating the greatest possible value for them, and it’s something I’m genuinely excited to contribute to."