Sweden’s $61 billion AP2 picks next CEO

Sweden's AP2, one of the country's state-run national pension funds, has named Patrik Svensson as its next chief executive officer, according to the publisher summary of the announcement and the Pensions & Investments report by Sophie Baker. The appointment succeeds Eva Halvarsson, who is leaving the fund after two decades. The fund manages more than 600 billion kronor, equivalent to roughly $61 billion. The change is effective June 1.

Svensson comes to AP2 from Nordea, where he was responsible for corporate banking operations in Western Sweden and the bank's national real estate business within its business banking unit. Those roles give him a background in lending, corporate relationships and real estate, which sit alongside the fund's investment mandate.

Niklas Johansson, chair of AP2's board, said in a statement that Svensson "has the experience, expertise and leadership qualities required to lead AP2 forward and continue developing the organisation, with a focus on long-term returns, responsibility and AP2's important role in the pension system."

Halvarsson's tenure included a strengthened emphasis on long-term returns, responsible investment and active ownership, according to a news release from the fund. Svensson will inherit that agenda as the fund continues to develop its organisation and its role within Sweden's pension system.