CIO Henrik Gade Jepsen Exits ATP

He ends his 17-year career at Denmark’s largest pension plan as ATP welcomes Kaspar Arndt Lorenzen as the new investment chief.

HenrikGadeJepsen_ChrisBuzelliHenrik Gade JepsenDenmark’s largest pension plan ATP’s CIO Henrik Gade Jepsen will exit to join Danske Bank, the fund announced Thursday.

ATP’s current Head of Liquid Markets Kaspar Arndt Lorenzen will take over as investment chief of the DKK 750 billion ($113 billion) plan effective immediately. 

“Henrik has been a driving force in ATP,” the fund’s CEO Carsten Stendevad said in a statement. “Under Henrik’s leadership, his team has set new standards for pension fund investment and risk management.”

At ATP, Jepsen put in place a risk parity—or “balanced”—approach in the fund’s portfolio management, shook up its risk buckets, and reintegrated alpha into the main portfolio.

“Some call it risk parity, but we stick to ‘balanced’ as it deals with the unpredictable,” Jepsen told CIO in 2013. “All portfolios have been challenged in the last five years.”

Upon leaving ATP, Jepsen, 53, will become head of asset management at Danske Bank’s wealth management unit beginning August 1. 

The Copenhagen-based bank said the Jepsen—formerly number one of CIO’s Power 100 list—will oversee DKK 690 billion in customer funds and be responsible for 350 employees in the Nordic countries and Germany. 

“”ATP has been like family to me, and leaving ATP has not been an easy decision,” Jepsen said. “Today, ATP stands stronger than ever before, and I cannot imagine someone more qualified to take over than Kasper.”

Jepsen has spent nearly 17 years at ATP, first joining the pension plan as head of fixed income. He has led the fund as CIO since 2011.

The incoming CIO Lorenzen, 44, is in his seventh year at ATP, previously serving as head of portfolio construction and portfolio manager.

“Kasper is uniquely qualified for the job,” CEO Stendevad said. “He has in-depth knowledge of ATP’s approach to investment, a strong investment track record, great intellectual capacity, and strong managerial and personal qualities.”

He has also spent part of his career at investment bank Nordea and Denmark’s largest pension manager PFA.

Related: 2013 Power 100: Henrik Gade Jepsen