Sweden’s AP2 has hired a new chief investment officer, the state pensions buffer fund announced this morning, to continue work on implementing major changes to its investment approach after its previous investment chief quit for another financial organisation.
Anna Hammer, CIO and former chief economist at Länsförsäkringar, has been appointed by the Gothenburg-based buffer fund AP2 to replace its previous CIO Erik Kleväng Callert, who in turn has gone to SEB Trygg Liv to become its new chief executive officer from this month.
Eva Halvarsson, CEO of the SEK450bn (€39.1bn) fund AP2, said: “We are very pleased with the recruitment of Anna Hammer. Anna has a deep and broad knowledge experience from investment, macroeconomics and leadership.”
Halvarsson said Hammer was “an appreciated and communicative leader and has a strong commitment to AP2’s important mission”.
“I am convinced that Anna is the right person to continue the development of our asset management,” the CEO said.
Hammer, who will take up the CIO role in the spring, said: “I look forward to taking on the important assignment of managing the pension funds of the Swedish people.
“AP2 has undergone significant changes over the past year, and I now have the privilege of continuing the implementation together with the fund’s competent organisation,” she said.
AP2 put a new portfolio structure in place in the first half of last year, which – among other things – resulted in alternative investments being categorised as either equities or income-generating assets.
The changes were part of a new fund management model aimed at creating higher returns in a more dynamic and effective way, and encompassed AP2’s governance, organisation, investment beliefs, as well as its vision and values, according to the buffer fund.
The fund has said it is increasing its dynamic allocation work in order to be more actively positioned to capture trends and changes in the outside world, employing a time horizon of five to 10 years.
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