STOCKHOLM – The SEK50bn (€5.4bn) Swedish co-operative pension foundation KP Pension & Försäkring says it has hired Hewitt Associates consultant Björn Nilsson as its new head of marketing.

Chief executive Gunnar Andersson told IPE that Nilsson, formerly senior consultant at Hewitt, takes over from Aud Grufman on August 14.

Grufman - in the job since the beginning of this year - will retire, he added.

The move comes as KP has reorganised to become more competitive.

“Within the new organisation, KP needs someone who can help the company become even more competitive,” Nilsson commented.

Nilsson will be replaced at Hewitt by his colleague Richard Blom.

Last month Hewitt said that chairman and chief executive Dale Gifford would retire at the end of the year.