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AP2 names head of corporate governance

SWEDEN – The 140.4 billion-crown (15.3 billion-euro) second Swedish national pension Andra AP-Fonden, or AP2, has named Carl Rosén as head of corporate governance and communications.

The scheme said he would become a member of its executive management. Rosén joins from Nordic Investor Services where he was managing director. He will be succeeded by Albin Berggren.

Rosén takes up his new appointment in August. He was a background in corporate finance at Alfred Berg and Enskilda. And was formerly chief financial officer at Sweden’s state-owned investment company Fortia.

“It is important that the Second Swedish National Pension Fund be perceived to exercise a clear ownership role,” the scheme says on its web site.

According to its corporate governance policy, the fund may control “no more than the equivalent of a maximum of 10% of the voting rights in any single exchange-listed company, Swedish or foreign”.

Earlier this year AP2 reported a return on total assets of 17.7% in 2003 – but said it underperformed its benchmark by 0.8%.

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