Business studies at the University of Oulu gave Sari Heinonen a good foundation for management: “I learned to understand different types of people and handle large amounts of information”

During upper secondary school, Sari Heinonen had a vision for the future. She dreamed of working in a trendy advertising agency and wearing stylish pencil skirts and jackets.

“In the 1990s, an advertising agency career seemed glamorous to me. I wanted to be part of that amazing environment,” recalls Heinonen.

Her career ended up taking a different path. Heinonen graduated from the international IB diploma programme at Oulun Lyseo upper secondary school and applied to study economics at the University of Oulu. Sari's interests shifted from the advertising and marketing world to management in the early stages of her studies, and she decided to complete her master’s thesis on that topic. Among other things, she studied business law as a minor subject.

“However, I can’t say that I planned my studies in a very systematic manner. I received a good foundation for life at home, because my parents were encouraging and my father always reminded me that I could become anything that I wanted. University was a natural choice, as many members of our family have an academic background. My mother had worked at a university and my father was a high school principal.”

Although Heinonen was also actively involved in sports and participated in student events, her studies went by quickly and progressed to a master’s degree phase in a little over two years.

“That was a really fun time. It was typical student life with something happening all the time. I played basketball on a university men’s team and went to North Carolina on a student exchange.”

Heinonen enjoyed university so much that she started her doctoral studies immediately after completing her master’s degree. Her doctoral dissertation published in 2002 examined Nokia’s subcontractor companies and their growth into successful international operators.

"Writing a doctoral dissertation taught me how to deal with large amounts of text and identify the essential information. This skill is still useful, because I’m a member of nine different boards and have to wade through thousands of pages of different information in my work.”

People have always been more important than paperwork. Heinonen recalls that she was already inspired by good discussions during her studies.

“At university, I learned to understand different types of people and work in a group. My favourite lectures were those where we dealt with a topic through practical examples.”

Sari Heinonen’s career began at the age of 26 at Oulun Puhelin as a supervisor responsible for consumer business and company marketing. Heinonen worked in the telephone operator business for 11 years before moving on to management positions at OP Group and Terveystalo and then becoming President of LocalTapiola Group.

“I’ve always called myself a specialist in essential services, because my career has taken me from an operator to banking and then on to health and insurance.”

While studying, Heinonen swore that after graduation her workdays would never last longer than eight hours. However, these noble principles soon changed – as responsibility increased, the working hours gradually became longer.

“Management is largely about how much your brain can handle and where a person sets their limits to allow enough time for recovery.”

The importance of rest became crystal clear after a flight in 2018, when Heinonen was diagnosed with a blood clot that progressed to her lungs. Heinonen was working for OP Group at that time, with responsibility for 1,000 people at work and young children at home.

“After becoming ill, I realised I had to take better care of myself and that I couldn’t take on everyone’s worries.”

As President of LocalTapiola Group, Heinonen is responsible for administrative management and creating strategies. She is also a member of nine different boards. Although there are currently no other women in management positions at financial companies, Heinonen has not experienced discrimination in her sector.

“I’m not saying that there are no glass ceilings, but they haven’t affected me. It may be a question of luck or due to my own attitude.”

Heinonen encourages young people with an interest in management to take on challenges boldly.

“It’s a good idea to enter new situations with an open mind and accept that you can't know how to do everything right away. Be curious and active. And build trust together with others.”

In February 2026, the LocalTapiola Group headed by Sari Heinonen published a surprising piece of news. The company is going to invest EUR 200 million in domestic growth companies.

“Finland has suffered from a lack of economic growth for the past 18 years. We want to do our part to change this.”
According to Heinonen, the investment team at LocalTapiola Group is currently evaluating potential companies that have a good business idea and turnover of at least a few million euros.

“Companies in Finland receive support at the seed stage, but domestic funding is often no longer available at the internationalisation stage. We want to help these companies, because we believe that they will support a positive development cycle throughout the country.”

LocalTapiola Group has also granted a total of EUR 5.4 million in support to six universities. For example, the University of Oulu is using the EUR 900,000 it received to commercialise innovations and research projects.


Text: Sanna Wallenius. Photo: LähiTapiola.

AACSB accredited Oulu Business School educates experts for rapidly changing global business challenges and offers an international learning environment.