Bo Foged was named permanent CEO of ATP, Hilleroed, Denmark, the 837.5 billion kroner ($127 billion) pension fund said in a statement Tuesday.
Mr. Foged joined ATP in December as interim CEO to replace Christian Hyldahl.
Martin Praestegaard was also named deputy CEO and chief financial officer. Mr. Praestegaard, who is permanent secretary in Denmark's Ministry of Finance, will join ATP effective Sept. 1. The position is new.
"It has been essential to us that we took the time for dialogue with relevant stakeholders and searched the market for relevant candidates — both externally and internally," said Torben M. Andersen, chairman of the ATP board of directors, in a news release. "All candidates were evaluated on the same terms, and (Mr.) Foged has been selected. Having (Mr.) Foged as CEO and (Mr.) Praestegaard in the group management results in a strong and qualified management team in ATP."
Separately, ATP CIO Kasper Ahrndt Lorenzen was named group managing director and group CIO of the 576 billion Danish kroner pension provider PFA Pension, Copenhagen, effective Sept. 16, the statement said. The position is new. Mr. Lorenzen will also assume the role of the chairman of PFA Asset Management's board of directors from PFA Group CEO Allan Polack.
Mr. Andersen added in the news release that ATP will search for a new CIO.
