Gustaf Hagerud was named executive vice president of the 208.6 billion Swedish kronor ($30.6 billion) AP3, Stockholm, according to Christina Kusoffsky Hillesoy, spokeswoman.
He will replace Chief Investment Officer Erik Valtonen, who will leave at the end of the month, Ms. Hillesoy wrote in an e-mail response to questions. The CIO title was replaced with executive vice president.
Mr. Hagerud, previously AP3’s head of investments, alpha and beta, will report to CEO Kerstin Hessius. Mr. Hagerud will retain his previous duties.