Denmark’s Danica Pension, the country’s second-largest commercial pensions provider, has hired Claus Harder from its parent Danske Bank to replace outgoing CFO Jacob Aarup Andersen.

Per Klitgård, chief executive of the DKK327bn (€43.8bn) pensions firm, said: “With his broad financial insight, his international network and his great experience with big clients in the corporate and institutions division, Claus is absolutely the right CFO for Danica Pension.”

Aarup Andersen is leaving Danica Pension at the end of this month to act as deputy for Danske Bank’s current CFO Henrik Ramlau-Hansen, before taking over from him when he resigns on 1 April 2016.

Aarup Andersen has made big investment strategy changes at Danica Pension since he joined the company in May 2014, shifting the focus to direct investments and making high-profile hirings to put a team in place.

When Danica recently began searching for someone to replace him, it said it was targeting a candidate with the right strategic focus, as well as international experience.

Harder will start work at Danica Pension on 1 March 2016.

He will be responsible for the actuarial, risk management and financial departments and will be a member of the executive board, the company said.

He comes to Danica from the role of senior vice-president within Danske Bank’s corporate and institutions division, which he has held since 2009.

Before this, he worked at UBS Investment Bank in London, focusing on financial risk management, and subsequently in jobs at Goldman Sachs and then Merrill Lynch.