Kasper Ahrndt Lorenzen was named chief investment officer at ATP, Hilleroed, Denmark, following the resignation of Henrik Gade Jepsen, who will join Danske Bank later this year.
Mr. Lorenzen's appointment is effective immediately, and he also becomes a member of the group executive board of the 757.8 billion Danish kroner ($113.2 billion) pension fund. He was previously senior vice president and head of liquid markets in ATP's investment division. A spokesman could not be reached for further details on any replacement by press time.
“(Mr. Lorenzen) is uniquely qualified for the job,” said ATP CEO Carsten Stendevad in a news release Thursday. “He has in-depth knowledge of ATP's approach to investment, a strong investment track record, great intellectual capacity, and strong managerial … qualities.”
Of Mr. Jepsen, who joined ATP in 1999, Mr. Stendevad said: “(He) has been a driving force in ATP. … Under (his) leadership, his team has set new standards for pension fund investment and risk management. We'll miss him and we wish him all the best in his new endeavors.”
Mr. Jepsen will become head of asset management in Danske Bank's wealth management unit, effective Aug. 1. In April, Danske Bank established a new unit bringing together private banking, pensions, wealth and money management. A spokesman said the appointment is part of the new setup. Prior to the establishment of the new unit, the head of the asset management business was Niels-Ulrik Mousten. Mr. Mousten left the firm this year.
Mr. Jepsen will be responsible for managing 690 billion Danish kroner of assets, as well as more than 350 employees across the Nordics and Germany.