Leonia, the Finnish financial services group, will merge Leonia Corporate Bank into Leonia Bank on the same day that parent Leonia plc completes its merger with Sampo Insurance.

On December 31 Leonia plc and Sampo Insurance merge to form Sampo-Leonia and will undergo restructuring. The Leonia subsidiaries merger is part of that restructuring. In addition, the new group will form an investment banking business that will include corporate finance, a brokerage business and equity research operations. It will begin operation at the start of next year.