In the spotlight: Veritas’ Laura Wickström

Laura Wickström, CIO of Finnish pension insurance company Veritas, talks about investment challenges, leadership, the upcoming reform of the Finnish pension industry and the beneficial lifestyle, climate and professional opportunities to be found in California.
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I began my career as a trainee in the derivatives middle office at ABN Amro’s Helsinki office while still studying. That experience led to another internship in the fixed income sales and trading team, which eventually turned into a permanent role after graduation. I continued working on the investment banking side in both Helsinki and California, gaining exposure to global markets. When we moved back to Finland, I sought a role that offered more flexibility to better support life with small children. Asset management provided that balance, and I transitioned to AIM Capital, an alternatives-focused asset manager in Helsinki. From AIM Capital I moved to Veritas Pension Insurance where I still work.

What would your recommendations be for someone who is young today and who is looking to one day have a job similar to yours?

Make the most of every opportunity and be willing to step outside your comfort zone. Having a clear interest in the investment industry helped guide my path, but staying open to different roles within it has been equally important. Stay curious and keep learning, markets and investment instruments evolve constantly. Pursuing professional certifications like the CFA or CAIA can also be valuable in deepening your expertise.

If you didn’t work in the asset management industry, what do you think you would have done instead?

After high school I was also thinking about studying history but ended up choosing Helsinki School of Economics instead. If I weren’t in asset management, I’d likely be drawn to something equally analytical and dynamic, perhaps something related to strategy or economics, or even entrepreneurship. I enjoy problem-solving and working in fast-paced environments, so those paths would have been interesting as well.

What is your leadership style and what do you think makes a good leader?

I value collaboration and teamwork. As a leader, I aim to set clear objectives while encouraging open dialogue about how best to achieve them. I believe in the meritocracy of ideas, ensuring that the strongest ideas prevail, regardless of where they come from. Leadership is coordination and communication. A good leader listens, empowers others and creates an environment where people feel safe to contribute and grow.

What are some of the main lessons learnt throughout your career?

The most valuable lessons often come during challenging times. I have learned that returns can come from unexpected places, so it is important to avoid being overconfident. Many of the best investment opportunities come from outside the consensus view. That also applies to risks that tend to materialize in places overlooked by majority of market participants.

Even though markets can be very unpredictable it does not mean you cannot prepare in advance. On the contrary it is especially important to plan ahead and have a strategy for those situations to avoid bad decision-making that is often related to stressful situations.

What are the best and worst things in your current job?

The best part is the strategic thinking involved in investment planning and allocation. I also appreciate the opportunity to exchange views with talented colleagues and engage with leading investors globally. Markets are constantly evolving and there rarely are dull days at work. Following world events broadly and the impact they have on markets keeps this job very interesting and challenging. Even though as a pension fund we have a long investment perspective, spikes in market volatility and related drawdowns in risk assets and portfolio might mean a couple of sleepless nights.

What do you see as some of the main investment-related challenges at the moment?

Finnish Pension industry is currently preparing for the pension reform that will increase equity exposure in the pension insurance companies’ portfolio. This means changes in the investment plan and requires focus on investment strategy related questions. Some of the investment market related challenges are increasing global debt levels and fiscal policy increasing dominating economies. There has also been much discussion about how monetary policy should adapt to the environment of fiscal dominance that creates uncertainty around inflation, interest rates and currencies. In equity markets AI is the dominant theme, and equity valuations have been fuelled by the AI hype. 

What do you like to do when you’re not working?

I enjoy playing tennis and staying active through other sports. Spending time with my family is also a priority.

Where would you live if you didn’t live in Helsinki?

We considered staying in California, and if I weren’t living in Helsinki, I’d definitely consider moving back. The lifestyle, climate and professional opportunities there were a great match for our family.

Which books or podcasts would you recommend to your peers?

There are so many good books I could recommend but I want to choose one that provides historical context for the important questions we are facing today. I recommend Paul Volcker’s “Keeping at It: The Quest for Sound Money and Good Government”. It offers valuable insights into the history of the Federal Reserve and the evolution of its mandate, which is especially relevant today. For podcasts, Masters in Business by Bloomberg and EconTalk are great listens for anyone interested in markets, investing and leadership.

// About Veritas

Veritas Pension Insurance Company offers statutory earnings-related pension insurance for employers and their employees, as well as for entrepreneurs. Founded in 1905, it is one of the oldest insurance companies in Finland still in operation. Veritas Pension Insurance is a non-listed limited liability company. Veritas provides pension coverage for over 134 000 people and pays out more than EUR 0.8 billion in pensions annually. Veritas manages approximately EUR 4.9 billion in assets (as of 30 June 2025). The objective of Veritas is to achieve the best possible return in order to ensure sustainable funding for pensions. The investments comprise of fixed-income, equity, real estate and other alternative investments.

Photo: Jaska Poikonen

I began my career as a trainee in the derivatives middle office at ABN Amro’s Helsinki office while still studying. That experience led to another internship in the fixed income sales and trading team, which eventually turned into a permanent role after graduation. I continued working on the investment banking side in both Helsinki and California, gaining exposure to global markets. When we moved back to Finland, I sought a role that offered more flexibility to better support life with small children. Asset management provided that balance, and I transitioned to AIM Capital, an alternatives-focused asset manager in Helsinki. From
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