SWEDEN - Kristian Nammack, the head of external asset management at Stockholm-based Skandia Liv Kapitalförvaltning, has left the group to set up his own company.

Nammack left Skandia Liv, the asset management division of banking group Skandia, at the end of November. Nammack, who has over 15 years experience in asset management, said: “It was time to go. I have had a very successful career in asset management. Starting up my own business has always been a dream. And there is a good niche in the market for excellence.”

Although Nammack said he was currently recruiting, he did not want to comment on whether he would take any of his Skandia Liv staff with him.

Nammack’s departure comes amid a restructuring at the Swedish asset manager, which is merging its private equity and asset management teams. The new division is to be headed by Niklas Johansson.

At Skandia Liv, Nammack was responsible for selecting and monitoring external asset managers for the 25 billion-dollar life insurance portfolio. He joined Skandia from Merrill Lynch Investment Managers, where he was managing director for Northern Europe. Nammack also carries 11 years of experience of European institutional sales at Sanford C. Bernstein & Co in New York.

Nammack was recruited by Skandia in July 2002, when the company raided Sweden’s national pension funds AP1 and AP3 for asset managers.

Topics