Kerim Kaskal was named chief investment officer by Third Swedish National Pension Fund, Stockholm, confirmed Christina Kusoffsky Hillesoy, AP3's head of communication and sustainable investments.
Mr. Kaskal will assume risk and asset allocation for the 242.3 billion Swedish kronor ($35.9 billion) fund, effective Oct. 1.
AP3 has been without a CIO since September 2010 when Erik Valtonen left to start his own consulting firm. Ms. Hillesoy said Mr. Kaskal's responsibilities do not precisely overlap those of Mr. Valtonen, and AP3 considers the position a new one.
Mr. Kaskal was deputy CIO of the Nektar Fund and deputy chairman of Nektar Asset Management. Nektar is a subsidiary of Swedish hedge fund manager Brummer & Partners. Information about Mr. Kaskal's replacement could not be learned by press time.