SWEDEN - Swedish buffer fund AP3 has created a new position - head of asset management - and is recruiting a new head of equities management as part of a restructure of its executive management team.
Announcing the new team, recently appointed CEO Kerstin Hessius said Kerim Kaskal would take on the new role of head of asset management, with overall responsibility for the fund’s management of equities, bonds and currency risk.
Kaskal, who joins from Brummer & Partners where he co-founded the Nektar hedge fund, will take up his new post on December 1.
“The group comprises present AP3 personnel together with a couple of new recruits,” Hessius said. “This gives us continuity and also contributes new expertise to the organisation.”
Pernilla Klein, employed as communications manager in 2000 and a member of AP3’s steering committee for corporate governance, has been appointed head of corporate governance. Christina Kusoffsky Hillesöy, who joins from TRR Trygghetsrådet, will take her place as communications manager from January 1.
Lars Orest, employed as bond portfolio manager for the fund in 2000 and appointed head of fixed income and FX management in May 2004 will maintain his current role.
Orest and the yet to be appointed head of equities management will report to Kaskal.
Bengt Hellström, head of external management, Erik Valtonen, head of quantitative analysis and risk control and Sven Askenberger, chief operating officer, who all took up their positions in 2000, will remain in their current positions.
“I am pleased to have put together a strong team that together possesses the skills and expertise that AP3 needs to advance its status as a leading asset manager,” Hessius said.
“Together with the new executive management team, I will pursue a strategy aimed at making AP3 even better at meeting its objective of generating a high return on Swedish national pension fund capital with a low level of risk.”
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