Gerard van Olphen is to step down as CEO of APG Asset Management, the in-house manager of Stichting Pensioenfonds ABP, Heerlen, Netherlands, next spring, a spokesman confirmed.
APG is searching for a successor after Mr. Van Olphen decided to leave for private reasons, according to a news release Monday.
Mr. van Olphen has served as chairman since 2016, working with the board to shape the firm's 2025 strategy.
"It is too early to thank Gerard for his enormous contribution to APG, because he will still be our chairman of the board in the coming months, also to ensure a careful follow-up process," Pieter Jongstra, chairman of the supervisory board of APG, said in the release.
"I can take this decision (to depart) with confidence because I know that APG is in the hands of a team of highly motivated and knowledgeable people," Mr. van Olphen said in the release.
ABP had €451 billion ($507 billion) in assets as of June 30.
