Swedish Pension Fund AP3 Appoints New CEO

By Nick Hedley

The Third Swedish National Pension Fund (AP3) has appointed Staffan Hansén as its next CEO.

Currently the CEO of SPP Pension & Försäkring and an executive at Storebrand Group, Hansén will take over at AP3 on or before December 1, the investment manager said in a statement. He will succeed Kerstin Hessius, who recently announced her intention to step down after 18 years in the position.

Hansén’s previous roles include CEO of Storebrand Asset Management and head of fixed income trading at Handelsbanken and Alfred Berg.

“I have great respect for the excellent results AP3 has achieved in the past and am taking on the role of CEO with the aim of continuing to develop the fund as a world-class asset manager with a professional and positive work environment,” Hansén said.

Formed in 2001, AP3 is one of five funds that manage capital on behalf of the Swedish state pension system.

At the end of 2021, it had fund capital of SEK502 billion (US$49 billion). It generated a return of 20.7% after expenses in 2021, and a net result of SEK86.8 billion.

Over the past decade, AP3 has delivered an annual average return of 11.1% and has paid SEK73 billion to the pension system.