Stockholm (NordSIP) – Otto Hedenstierna was appointed Senior Sales Manager for the Nordics at Candriam, a global multi-specialist asset manager focused on sustainable investments. Hedenstierna will focus both on institutional clients and wholesale clients across the Nordic markets and will report to Cristina Lugaro, Head of Distribution for the Nordics. Lugaro joined Candriam in January 2025, as part of the firm’s expansion plan.
Candriam is part of New York Life Investments and offers a broad range of ESG-integrated investment solutions from thematic funds and market-leading fixed income strategies to liquid alternatives and private assets.
On this occasion, NordSIP reached out to Hedenstierna to better understand Candriam’s appeal and what he brings to the firm’s continued Nordic expansion efforts.
Aligned with Conviction and Responsibility
Considering the appeal of working for Candriam, Hedenstierna highlights the company’s reputation for sustainable investing, its integrity and collaborative culture and the value of the firm’s flagship strategies.
“I am genuinely excited about the opportunity to join Candriam’s team in Stockholm for several reasons,” Hedenstierna says. “First and foremost, Candriam’s strong reputation as a pioneer in sustainable and responsible investing aligns closely with my own values. The Candriam name stands for “Conviction and Responsibility in Asset Management,” which reflects its core values and long-term commitment to offer sustainable investment solutions to its clients. Candriam has a dedicated ESG research team that supports investment teams and local offices, providing deep expertise and resources, which align to the needs of Nordic investors,” Hedenstierna adds.
“In terms of culture, I am drawn to Candriam’s emphasis on collaboration, integrity, and client-centricity. The firm offers a dynamic and team-based environment, as well as, a strong risk management approach and corporate structure. It combines the autonomy and agility of strong local teams with the global reach and resources of New York Life Investments, Candriam’s majority owner. This structure empowers people like Cristina and I with the tools needed to tailor solutions specifically for our clients in the Nordics. I believe Candriam offers a powerful combination for building trust and delivering real value,” Hedenstierna argues.
“Regarding flagship strategies, Candriam is a recognised leader in fixed income, delivering strong performance across the board—from investment grade to high yield and long/short credit. Additionally, it is a leader in thematic investing, while also expanding its alternatives’ offering. On that note, I am really excited about the opportunity to introduce New York Life Investments’ private markets boutiques to the Nordic region,” Hedenstierna adds.
Nordic Markets: Sophisticated and Competitive
According to Hedenstierna, the Nordic region is characterised by the sophistication of Nordic investors and the competitiveness of local sustainable asset managers, which creates opportunities and challenges, best tackled by someone with a local network.
“One of the unique opportunities in the region is the high level of sophistication and openness to innovation among Nordic investors. This offers a strong potential for Candriam and New York Life Investments’ combined product offering, particularly given their growing appetite for alternatives assets and liquid alternatives,” Hedenstierna comments.
“There are also a number of challenges, as the Nordic market is also highly competitive. Many institutions and large banks already have established partnerships and rigorous due diligence processes. In order to succeed you need to differentiate your offering, build trust and demonstrate long-term commitment. It is very important to understand client needs and provide customised solutions that genuinely aligned with clients’ evolving requirements,” Hedenstierna adds. “With my local knowledge, network, and understanding of client expectations in the Nordics, I am well-positioned to contribute to Candriam’s ambitions in the Nordic region.”
Drawing From Experience
Beyond his network, Hedenstierna argues the lessons from his wide-ranging professional experience working for both large organisations as well as smaller entrepreneurial ventures will prove useful at Candriam.
“Having worked for large global asset management firms such as UBS AM and AXA IM, and more recently in an entrepreneurial venture, I have developed different complementary skills that I believe will add value to Candriam,” Hedenstierna says.
“In the early days of my career and during my time at AXA IM, I learned to maximise the power of strong global platforms offering access to deep investment expertise, robust processes, and well-established brands. It also taught me the importance of navigating complex organisations, aligning local client needs with central resources, and collaborating across borders and business lines,” adds Hedenstierna.
“On the other hand, being part of an entrepreneurial venture provided me with a new mindset focused on agility, acting from an owner’s point of view, and the ability to wear multiple hats. I had the chance to work closely with prospective clients, develop new sales strategies and operate with a high degree of accountability. I also learned how to build a business proposition from scratch, test ideas and work closely with partners and colleagues,” Hedenstierna continues.
“Candriam offers the opportunity to run an entrepreneurial project on the ground in the Nordics while being part of an international firm with access to multi-cultural investment teams and colleagues. In addition, the connection to New York Life Investments group gives us access to highly reputable and experienced investment boutiques,” says Hedenstierna.
Sustainable Investing in Turbulent Times
Part of operating in Nordic financial markets as a sustainable asset manager is the need to understand that the region’s reputation for sophistication is derived from the seriousness of its commitment to ESG, which is not expected to fade under the pressure of international political whims. Hedenstierna argues that Candriam is well positioned to navigate these demanding expectations.
“In the Nordics, sustainability has long been a core component of investor’s priority and I believe that with the current market uncertainty and geopolitical risks, the role of ESG will continue to be central to investment strategy rather than losing ground,” Hedenstierna explains.
“Nordic investors are not just looking at ESG as a compliance or reputational requirement, but as a framework for long-term performance and risk management. Climate risk, governance quality, and social impact are increasingly being integrated into portfolio construction in a more nuanced and data-driven approach,” Hedenstierna says.
“Investors are demanding greater transparency and measurable outcomes moving from ESG integration to ESG accountability. This evolution plays directly to Candriam’s strengths, especially given the firm’s long-standing leadership in responsible investing, in-house research, and active stewardship,” Hedenstierna adds.
“I believe Candriam is exceptionally well-positioned to meet investors’ expectations, and I look forward to supporting that effort. My ambition is to use my long-term experience in asset management and deep network in the Nordics to deliver strong results at Candriam,” Hedenstierna concludes.
