DENMARK - Dorrit Vanglo, deputy chief executive at Denmark's LD Pension, is set to replace the scheme's outgoing chief executive Carsten Koch.

Vanglo, who joined the DKK54bn (€7.2bn) supplementary scheme in 1999 as investment manager, has held her current position for seven years.

She will assume her new role in May, following Koch's departure.

Koch leaves LD after two years at the helm, during which he oversaw the split of LD from its internal asset manager.

While the scheme is still a majority shareholder in LD Invest, it last year put almost four-fifths of its portfolio  - worth approximately €5.7bn - up for tender.

Vanglo said one of her first tasks would be to ensure the smooth transition of the scheme's assets to the newly appointed managers and establishing good working relationships.

"We changed almost everything last year," she said, noting that LD also switched administration providers to FDC after 30 years with ATP.

"What we need now is to not change too much this year, but get all the new partners and our cooperation with them to work smoothly."

Vanglo added that her team is now coming to terms with both aspects of stock picking and asset allocation, areas previously covered by LD Invest, but moved in-house after the recent split.

She said she accepted that LD was winding down and that, due to its maturing membership, assets would begin to drain away during her tenure.

"We are a declining pension scheme, so one of the main issues for me will be to assure that the cost side of the business can follow the money down, so we do not get too saddled with costs," she said.