Stockholm (NordSIP) – According to a press release issued by Alecta, the Swedish occupational pensions manager has received the decision from the Swedish Financial Supervisory Authority (Finansinspektionen, FI) that Magnus Hall has been approved in the management review as Chairman of the Board of Alecta.
If Hall is elected to the position of Chair of Alecta, he will replace Ingrid Bonde as Chair of Alecta, who left in October 2023, as a result of an internal reshuffle of the pension manager following the collapse of Silicon Valley Bank, Signature Bank and First Republic Bank, regional banks in the USA. Alecta’s exposure to Silicon Valley Bank caused Finansinspektionen to launch an investigation of the risk-management practices at the pension fund and Alecta to make important changes at the top of its executive team.
Magnus Hall was the CEO of public energy company Vattenfall between 2014 and 2021, during which tenure he was an important supporter of the energy transition. He oversaw the decommissioning of two reactors at the Ringhals nuclear power plant. Upon his departure from the company, the board considered him to have left Vattenfall in “improved position in the market, (…) a financially stronger and more stable Vattenfall with a clearly defined target – to enable fossil free living within one generation.” He’s an MBA graduate from Georgetown University, which he attended on a Fullbright Scholarship.
As the board’s comments suggest, Hall seems to enjoy a strong environmental reputation, as a leader towards a fossil-free energy transition. “Sustainability is the basis of Vattenfall’s strategy and a fundamental prerequisite for long-term profitability. We also clearly see that we need to collaborate on these issues to achieve rapid change, and we are signaling this by signing this appeal,” says Magnus Hall, President and CEO of Vattenfall,” Hall stated an in a 2016 interview.
In the past, Hall was the target of criticisms by German environmentalist organisations for Vattenfall’s decision to sell its ownership of coal mines in Germany rather than decommissioning them.
Stockholm (NordSIP) – According to a press release issued by Alecta, the Swedish occupational pensions manager has received the decision from the Swedish Financial Supervisory Authority (Finansinspektionen, FI) that Magnus Hall has been approved in the management review as Chairman of the Board of Alecta.
If Hall is elected to the position of Chair of Alecta, he will replace Ingrid Bonde as Chair of Alecta, who left in October 2023, as a result of an internal reshuffle of the pension manager following the collapse of Silicon Valley Bank, Signature Bank and First Republic Bank, regional banks in the USA. Alecta’s exposure to Silicon Valley Bank caused Finansinspektionen to launch an investigation of the risk-management practices at the pension fund and Alecta to make important changes at the top of its executive team.
Magnus Hall was the CEO of public energy company Vattenfall between 2014 and 2021, during which tenure he was an important supporter of the energy transition. He oversaw the decommissioning of two reactors at the Ringhals nuclear power plant. Upon his departure from the company, the board considered him to have left Vattenfall in “improved position in the market, (…) a financially stronger and more stable Vattenfall with a clearly defined target – to enable fossil free living within one generation.” He’s an MBA graduate from Georgetown University, which he attended on a Fullbright Scholarship.
As the board’s comments suggest, Hall seems to enjoy a strong environmental reputation, as a leader towards a fossil-free energy transition. “Sustainability is the basis of Vattenfall’s strategy and a fundamental prerequisite for long-term profitability. We also clearly see that we need to collaborate on these issues to achieve rapid change, and we are signaling this by signing this appeal,” says Magnus Hall, President and CEO of Vattenfall,” Hall stated an in a 2016 interview.
In the past, Hall was the target of criticisms by German environmentalist organisations for Vattenfall’s decision to sell its ownership of coal mines in Germany rather than decommissioning them.
