SWEDEN - Christer Elmehagen, the chief executive of Sweden's largest fund company AMF Pension, is leaving the company at the end of next year.

Elemehagen, who has been the firm's head for over 10 years, announced his decision to leave at the end of 2008 during a board meeting on Thursday.

A spokeswoman for AMF told IPE this morning his contract will end at the end of next year.

It is unclear at this stage why the contract has not been renewed but a committee within the board is set to recruit his successor.

Tor Marthin, former AMF pension chief investment officer, replaced Elmehange as chairman of AMF Pension Fondförvaltning, the fund administration company owned by AMF Pension, in October 2006.

Earlier this year, Elmehagen was appointed to the Nordic bank Nordea's new nomination committee, which will propose board members and the chairman of the board, as well as remuneration to the board members and auditor.

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