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AP3 announces CIO’s departure

AP3 Chief Investment Officer Erik Valtonen is to leave the Fund after 10 years in which he made a major contribution to building and developing AP3’s asset management operations. He will leave his post as CIO on 30 September but will continue in a strategic advisory role to AP3 CEO Kerstin Hessius to complete various projects and ensure continuity during the first half of 2011.

AP3 CEO Kerstin Hessius said: “It’s very sad that Erik Valtonen is leaving us. He has played a crucial role in developing the Fund’s strategies and asset management. Erik has extensive knowledge and expertise that has been key to positioning AP3 as a modern and cost-effective fund manager.”

Erik Valtonen said: “Helping to build the strong position that AP3 enjoys today has been a fantastic and stimulating experience. After 10 years at the Fund I feel it is time to move on to new challenges.”