Swedish pension fund AP3 appoints Staffan Hansén CEO

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Staffan Hansen

Sweden’s third national pension fund, aka AP3, has appointed Staffan Hansén as CEO, effective no later than December 1. Hansén succeeds Kerstin Hessius, who announced in March that she would step down after 18 years at the helm.

“I am delighted that we have recruited Staffan Hansén as the new CEO of AP3. I believe that his extensive asset management experience and strong background as CEO and executive, combined with all of the very capable people at AP3, will provide the optimal foundation for the continued successful operations of the Fund and therefore of the system. state pension,” Christina Lindenius, chair of the board of AP3, said in a statement.

Hansén is currently CEO of SPP Pension & Försäkring, a life insurance company that is part of the Norwegian financial services company Storebrand. He previously served as CEO of Storebrand Asset Management and was responsible for Storebrand’s life insurance portfolios. Previously, he was head of fixed income trading at Swedish consumer bank Handelsbanken and Nordic asset manager Alfred Berg.

“I very much look forward to getting to know my AP3 colleagues and working with them to continue fulfilling the important mission of the fund for the state pension system,” Hansén said in a statement. “I have great respect for the excellent results achieved by AP3 in the past and I assume the role of CEO with the aim of continuing to develop the fund as a world-class asset manager with a professional working environment. and positive.”

AP3 is one of five funds that manage capital on behalf of the Swedish public pension system. At the end of 2021, the value of the fund’s assets was 502 billion crowns ($49.5 billion) and last year the fund recorded the best financial results in its 20-year history, with a return on investment of 20.7%. Over the past 10 years, AP3 has had an average annual return of 11.1% and has earned an average annual return of 7.0% since its inception in 2001.

Hansén has been CEO of SPP since 2015 and, according to the company, he has helped to significantly increase its profits to currently manage 224 billion crowns. The company said that under his leadership, SPP implemented changes in working methods, IT platforms and new partnerships.

“The insurance market is undergoing major changes where SPP is now well equipped for the future,” Hansén said. “Time spent with the Storebrand Group has been extremely empowering both personally and performance-wise. I will follow SPP and Storebrand as a loyal customer.

Related stories:

AP3 returns 10.8% in the first half of 2019

Sweden’s AP3 appoint replacement CIO

Another Swedish retirement shield had a not so great 2018

Tags: AP3, CEO, CEO, Christina Lindenius, Kerstin Hessius, pension fund, Staffan Hansén, Storebrand, Sweden

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