SWEDEN - Peter Norman, executive president at AP7, the Seventh National Pension Fund in Sweden, is set to replace Mats Odell as the country's minister for financial markets, reports Pensionsnyhetener.

Prime minister Fredrik Reinfeldt confirmed the appointment as he presented his new cabinet to parliament.

Odell has served as minister for financial markets since October 2006.

AP7 did not respond to a request for comment before this article was published.

The fund was established as part of Sweden's 2000 PPM pension reform, and converted to a lifestyle fund this year.