Aalto EE acquires financial-sector training company FINVA

Riina Viitala starts heading the Aalto EE APAC office.


Aalto University Executive Education (Aalto EE) has acquired the entire share capital of FINVA Financial Education Ltd (FINVA Finanssikoulutus Oy) from the Insurance Sector Development Association (Vakuutustiedon Kehittämissäätiö). FINVA is one of Finland’s most versatile and experienced training companies serving the insurance, banking, finance and investments sector. The company will immediately become part of the Aalto EE Group.

"The synergies are obvious and our expertise is strongly complementary. Together, we can serve the rapidly developing Finnish banking and insurance sector better than ever before. This will enhance and diversify our creation of training content specific to the finance sector and Aalto EE will offer sectoral competence development from a strongly international perspective. Our goal is to create a Nordic center of expertise and excellence for the financial sector," says Professor Pekka Mattila, Group Managing Director for Aalto EE.

FINVA’s traditional VTS diploma in insurance, its advanced diploma in insurance YVTS, Managerial training programme for the finance and insurance sector Valiko and its new training program in banking, financial and investment operations (PaRaS) will remain means of ensuring modern and diverse expertise in the changing financial sector. Digital content and learning opportunities will be further expanded. The Executive MBA for the sector is also being reformed and will become part of Aalto EE’s portfolio, which has achieved success in the Financial Times rankings and fulfills international accreditation standards.

“Together with our customers, we will build a brand new range of programs, alongside the classic programs offered by FINVA. In terms of developing the expertise of the entire financial sector, it is important that a closer connection be created with the Aalto University School of Business’s economics and financial disciplines, which are top-ranking at both European and Finnish level," Mattila adds.

The Insurance Sector DevelopmentAssociation will continue to focus on its core task. ”By bringing FINVA and Aalto EE together, we will ensure that even higher-quality and more-international training programs and degrees are available to professionals in the transforming financial sector. The strong bond between Aalto EE and Aalto University benefits the entire financial industry,” says Paula Salonen, Chair of the Board of the Insurance Sector Development Association. ”FINVA’s experienced staff will become part of Aalto EE’s expert team. The financial sector will gain the best competence developers in Finland.”

Esko Kivisaari, Deputy Managing Director of Finance Finland, emphasizes the opportunities created by the acquisition. "This opens up new opportunities for the development of the reforming financial sector. The sector’s own training programs, examinations and seminars will be further reinforced."

The parties have agreed that the acquisition price will not be disclosed. Aalto EE Group will continue its profitable growth in Finland and international markets, and aims to achieve over EUR 21 million in turnover in 2017.

Further information

Pekka Mattila, D.Soc.Sc., Group Managing Director, Professor of Practice
Aalto University Executive Education Ltd
Telephone: +358 40 738 7221

Paula Salonen
Chairperson of the Board, Insurance Sector Development Association
Tel. + 358 50 4244280

Aalto University Executive Education Ltd

Aalto University Executive Education Ltd offers thought-provoking leadership development services (Aalto EE), professional development services for specialists and managers (Aalto PRO) and creative solutions covering the whole life cycle of entrepreneurship (Aalto ENT). Aalto University brings to our offering a multidisciplinary approach, together with innovative learning methods; this provides a unique combination of practical expertise with the latest research.

Aalto University Executive Education’s strengths lie in its global operating model and diverse offering. In addition to Finland and Singapore, Aalto University Executive Education offers education programs in China, Indonesia, Iran, Poland, Russia, South Korea, Sweden, Taiwan, Tanzania, Vietnam and the Baltic countries. As a part of Aalto University, it holds three respected business university accreditations – AACSB, AMBA, and EQUIS – which places it among the top 0.5% of institutions in the world.


The reformed FINVA provides Finland’s most versatile financial sector training for people and organizations in need of banking, insurance and other financial sector expertise. We serve our customers on the basis of more than 45 years of experience and our network of over a thousand experts, ensuring that our clients benefit from the very best talent.