Dutch pension manager APG is reshuffling its executive board with CIO Angelien Kemna set to hand over the position on September 1 after five years.
Kemna is moving to the role of chief finance and risk officer (CFRO), with Eduard van Gelderen becoming CIO. Van Gelderen is currently CIO for capital markets at APG Asset Management, a subsidiary of APG.
APG’s €375 billion of assets includes those of the ABP pension, the largest pureplay pension fund in Europe.
Elco Brinkman, chairman of APG’s supervisory board, said: “This move not only ensures continuity within the board of directors, it is also a reflection of the increasingly integral role of risk management in our company.”
He added that Kemna had “significantly increased the simplicity and transparency of the investment process” during her time as CIO, with strong returns boosting the firm’s assets under management from €200 billion to €375 billion.
Van Gelderen has worked at APG Asset Management since 2010, joining from ING Investment Management where he was deputy CIO. He has also worked at Lombard Odier, M&G, Cardano, and ABP Investments, which oversees Dutch public sector pensions.
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