Allan Normark Nielsen was named head of equities and Morten Hemmingsen was appointed deputy investment director at AP Pension, Copenhagen, effective June 1.
Mr. Normark Nielsen replaced Rasmus Cederholm, who was named CIO at the pension fund, which had 171.3 billion Danish kroner ($28.3 billion) in assets as of Dec. 31. Mr. Cederholm will replace Ralf Magnussen effective June 1, who is joining Nykredit Asset Management as CEO.
Mr. Normark Nielsen will also join the managing team for AP Pension's investment function, a spokesman said.
He was senior portfolio manager for equities and executives are in the process of finding a replacement, the spokesman added.
Mr. Hemmingsen's role is newly created. He is to become part of the management of the pension fund's investment function with special responsibility for bonds and credit allocations.
He was head of bonds and credit and will retain those responsibilities, the spokesman said.
