Erik Valtonen, chief investment officer of AP3, Stockholm, will leave Sept. 30 after 10 years with the 208.6 billion Swedish kronor ($29.4 billion) fund, according to AP3's website.
"Quite simply, after 10 years I felt that it was time to go forward," Mr. Valtonen said in an e-mail response to questions. "It has been intellectually stimulating and fun to work at AP3, but I was ready for the next step. Unfortunately I cannot yet comment on that step."
Mr. Valtonen will hold an advisory role through the first half of 2011 to ensure continuity, according to a news release on the website.
Mr. Valtonen “has played a crucial role in developing the fund’s strategies and asset management,” AP3 CEO Kerstin Hessius said in an AP3 news release.
Attempts to reach Mr. Valtonen and fund spokeswomen were unsuccessful. Information on a search for a new CIO was not available at press time.