PFA’s director for group communication and public affairs, Morten Jeppesen, has quit suddenly after talks with the group’s chief executive ended in a disagreement, the Danish pensions provider has announced.

The departure comes during a phase of many staff changes at Denmark’s biggest pension funds.

Allan Polack, chief executive of the DKK552bn (€74bn) pensions firm, said: “We are in the middle of a strategy process looking ahead to 2020, in which we are taking a more thorough look at how PFA should be in the future.”

In this connection, he said he been having a discussion with Jeppesen about his future role at the company.

“We were not able to agree about that, and so we reached an agreement that means Morten has resigned with immediate effect,” he said.

“This is completely natural given the central position he has had at PFA, and I would like to take the opportunity to say thank you to Morten for a good, significant and loyal period of service at PFA.”

He said it had not yet been finally decided how communications and public affairs should be organised within PFA.

Polack himself is new to PFA, having taken the helm in April, after being poached from Nordea Asset Management, where he was chief executive.

In May, PFA was hit with the loss of PFA Asset Management’s joint managing directors Poul Kobberup and Jesper Langmack, when the two were hired by Danica Pension as part of its new investment strategy, conceived by CFO Jacob Aarup-Andersen.

In September, PFA found a new co-head for its investment team in Henrik Nøhr Poulsen, who had been heading up investments at the DKK134bn fund Industriens Pension.

Observers have put the wave of personnel changes down to heightened competition in the Danish pensions sector, which Danica Pension’s change in strategy reflects.

Topics