Stockholm (NordSIP) – AP1 announced the appointment of Kristin Magnusson Bernard as its new CEO. The new CEO will replace Teresa Isele, no later than September 1, 2020. Ms Isele has been Acting CEO since September 2019 following the dismissal of Johan Magnusson for violation of internal regulations on the holding and trading of financial instruments
Until her appointment as CEO of AP1, Magnusson Bernard was Country Senior Executive in Nordea Markets Sweden and Head of Macroeconomic Research in Nordea, which she joined in 2016.
“In Kristin Magnusson Bernard, AP1 gets a CEO who combines long-standing experience from leading specialist and high-performing teams with excellent communication skills,” says Urban Hansson Brusewitz, Chairman of the Board at AP1. “Kristin possesses broad and deep experience from the financial industry, both in Sweden and an international context, where she developed strategic and analytical asset management capabilities. Further, her strong commitment and engagement in sustainability matters will be valuable for the fund’s continued work in this field. The Board of Directors are looking forward to working together with Kristin in continuing to deliver on the fund’s important assignment – to manage the capital in the best possible way for the pensioners of today and tomorrow. I would also like to thank Teresa Isele for her contributions as Acting CEO of AP1. She has taken on the assignment with a strong commitment, and several important initiatives have been implemented under her administration with impressive results.”
The incoming CEO has a PhD in Macroeconomics from the Stockholm School of Economics. Prior to her role at Nordea, Kristin was a Financial Stability Expert at the ECB and an Economist at the European Commission (2012-2014) and at the IMF (2009-2012). Among other topics, she authored research on “International Reserve Adequacy in Central America” at the IMF and on crisis recovery while at the European Commission.
“I am honoured to join AP1, and look forward to leading a very competent and experienced team,” Magnusson Bernard commented. “My mission as CEO of the fund is to continue the assignment to manage the pension capital and achieve good returns, and at the same time support a sustainable development. The Swedish national pension fund system has a very significant task and I am very proud to be part of the continued development of AP1 as a stable, responsible and active investor.”
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