Poul Kobberup and Jesper Langmack, joint managing directors of the asset management arm of Denmark’s PFA, have been lured to rival Danica Pension and are due to take up their new roles there in November.
Danica said the appointment of Kobberup and Langmack was part of Danica Pension’s implementation of its new investment strategy, conceived by its CFO Jacob Aarup-Andersen and approved by the Danica board in August 2014.
At Danica, Kobberup will become head of rates, while Langmack will be head of risk assets.
A spokesman for Danica told IPE: “The important part to Poul Kobberup and Jesper Langmack was the opportunity to become part of the new exciting investment setup Danica is in process of building up based on the new investment strategy.”
Apart from this, the two men were thrilled by the opportunity to continue their partnership, he said.
PFA, Denmark’s largest commercial pensions provider, is filling the management gap by putting group director Anders Damgaard in place to take over the daily management of PFA Asset Management.
Damgaard will manage the asset management business alongside Henrik Henriksen and Christian Lindstrøm Lage.
Danica announced last summer that it would refocus its investment process and strategy, moving towards alternatives, replacing some of its bond investments and making direct investments in companies.
The rationale behind the new strategy was that, with bond yields so low and equities fully valued, the institution could find extra yield in private markets, where competition was less intense.
Aarup-Andersen said at the time that Danica Pension was hiring specialists to build an in-house team.