Kerim Kaskal will become head of asset management for AP3, Stockholm, effective Dec. 1, according to a statement. Mr. Kaskal will oversee equity, bond and currency management for 142 billion krona ($20.73 billion) in pension assets. He was co-founder of the Nektar hedge fund of investment manager Brummer & Partners. AP3 is also recruiting a head of equities management to replace Magnus Eriksson, who left in October — one of four senior executives who have left the plan this year to join money management firms. The other departed executives are Tomas Nicolin, deputy CEO; Niklas Ekvall, CIO, most of whose duties will be assumed by Eric Valtonen, head of quantitative analysis and risk control; and Lennart Nordkvist, head of fixed income and foreign exchange, who was replaced by Lars Orest in May. Kerstin Hessius, AP3 CEO since August, also named Pernilla Klein as head of corporate governance. She was communications manager, and Christine Kusoffsky replaced her. The rest of Ms. Hessius' executive team includes Sven Askenberger, COO, and Bengt Hellstrom, head of external management.