Kerstin Hessius, the chief executive officer of Swedish national pensions buffer fund AP3, is to leave her job at the end of this year, the fund announced this morning.
The SEK502bn (€47bn) Stockholm-based fund said its board had begun the process of hiring a new CEO.
Hessius said: “At year-end I will have been CEO for over 18 years and have come to the conclusion that it is time to hand over the reins.”
She said it had not been an easy decision.
“AP3 is a highly professional pension fund manager and it has been a privilege to work with such talented, responsible and dedicated colleagues,” she said.
A week ago, AP3 reported a 2021 return after costs of 20.7%, which was marginally the second-highest percentage return posted by any of the four large buffer funds that back Sweden’s income pension system – the main part of the country’s state pension.
Christina Lindenius, chair of AP3’s board, said Hessius’ “wide-ranging experience of financial markets and her dedication to the fund’s mission have played a valuable role in the management of the pension system’s capital buffer”.
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