Swedish occupational pension provider Alecta says it is looking for a new chief executive after the current head Staffan Grefbäck announced his departure.

Grefbäck, who has been at the helm of the SEK721bn (€76.5bn) pensions firm since 2009, said: “After having held management positions in the finance sector for almost 30 years, I want to make more time for other things. 

“What those will be I do not yet know, only that I am not aiming for a new operational role.”

Alecta said its board of directors would now start a search to find a successor for the post of chief executive.

In the meantime, Grefbäck will remain as chief executive until a successor is appointed.

Grefbäck said it had been a privilege to lead Alecta for seven “eventful and exciting years”.

“Alecta is currently well positioned to face the future, with committed employees, strong finances and a level of competitiveness that creates real value and security for our customers,” he said.

He added that, even though there is “always more to do”, he felt it was time to hand over the baton.

Alecta’s chairman Erik Åsbrink said the board regretted Grefbäck was leaving.

“But we respect his decision and understand the motives that have guided him,” he said.

Before becoming chief executive of Alecta in February 2009, Grefbäck was head of Alecta’s asset management division, having taken on that role in 2001.

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