New Banking CIO for Danish Pension

One of the largest pensions in Denmark is to have its first CIO in five years. 

PFA Pension, one of the largest providers of retirement benefits in Denmark, has appointed a new CIO.

Anders Damgaard is to join the €56 billion (DKK417 billion) fund from Danske Bank in January 2015, the pension announced. He is currently head of corporate and institutional banking.

In his current role, he has been “responsible for the Danish bank’s largest corporate customers and the bank’s financial and institutional clients and counterparties” PFA Pension said.

PFA Pension provides pension and retirement benefits for individuals and corporate entities in Denmark.

“I have, during my 14 years in the bank, had close contact with Nordic institutions and businesses in many areas,” Damgaard said in a statement. “I always thought that pension funds have [had] a key role in the society. In particular since my days as a student, investment and risk have remained close to my heart.”

PFA Pension has been without a CIO since a reshuffle of investment and senior operational staff in 2009. This resulted in the departure of then CIO Henrik Franck who had led investments for around two and a half years.

The company’s assets grew by 12.7% over 2013, according to its annual report, which reflected investment returns and new customer capital.

It is a significant investor in local companies and real assets in the Nordic region.

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