New Chair and Board Member Appointed to the Third Swedish National Fund

Today, the Government appointed Magdalena Wahlqvist Alveskog as Chair of the Board and Peter Gerlach as a Board Member of the Third Swedish National Pension Fund (AP3). At the same time, AP3 bids farewell to outgoing Chair Christina Lindenius and Board Member Torbjörn Hållö, both of whom have reached the end of their terms.

Magdalena Wahlqvist Alveskog most recently served as Chief Executive of Handelsbanken Fonder and previously has extensive experience in asset management within Handelsbanken Asset Management.

Peter Gerlach is an economist at the Swedish Trade Union Confederation (LO), focusing on macroeconomic analysis, and previously served as Head of Planning at the Ministry of Finance. He has been appointed as a Board Member to represent employee interests in accordance with the AP Funds Act.

Christina Lindenius comments: ‘I would like to thank Chief Executive Staffan Hansén and the employees of AP3 for nine years of excellent collaboration. The past few years have been very eventful, particularly the most recent year, which has included both the consolidation of the AP Funds and a major system infrastructure transition, while the fund has continued to deliver strong returns to the pension system. I am very proud of the fund’s strong position today and hand over the chairmanship to Magdalena Wahlqvist Alveskog with great confidence.’

Magdalena Wahlqvist Alveskog adds:‘I am very pleased and honoured by this appointment. The AP Funds play an important role as a buffer and stabiliser in the pension system, as well as investors and long-term owners in the capital markets. AP3 has a very strong track record as a manager of the Swedish public’s pension capital, and I look forward to contributing to this important mission.’

About AP3’s Board of Directors

AP3’s Board of Directors is appointed by the Government and consists of nine members. Two members are appointed following proposals from organisations representing employee interests, and two are appointed following proposals from organisations representing employer interests. The Chair and Vice Chair are appointed from among the members who have not been nominated by the labour market parties.

The Board has full and overall responsibility for the operations and, within the framework established by the Riksdag, is responsible for AP3’s organisation and the management of the fund’s assets. To the extent that the Board’s work is not governed by the AP Funds Act, it is governed by the rules of procedure adopted annually by the Board.