Mandatum Life Insurance Co. Ltd. made changes to its wealth management and investment management units.

The Finnish company named Lauri Vaittinen senior vice president of its new investment solutions subsidiary, effective Jan. 18. The unit will oversee the firm's investment management and institutional wealth management activities and their supporting functions.

Vaittinen, who previously served as the firm's head of alternatives, will report to CEO Petri Niemisvirta and joins Mandatum's executive management group.

Mandatum also named Juhani Lehtonen head of fixed income and market strategy. Lehtonen will be in charge of fixed-income investments and products and the macroeconomy, as he was in his previous post as head of the company's investment management unit.

Jukka Pirskanen, the company's previous head of wealth management, "has embarked on a career as an entrepreneur," Mandatum said, noting that he will focus on his family's company.