Pål Bergström, chief executive officer of Swedish public pension fund AP7, has joined the investment advisory board of Germany’s nuclear waste management fund Kenfo.
Bergström is among the new members advising Kenfo’s board of trustees (Kuratorium) on asset allocation, risk management and the fund’s long-term investment strategy.
Claus Stickler, who has served on the advisory board for several years, has been appointed chair, succeeding Immo Querner. The other new members are Evi C. Vogl and Britta Weidenbach.
Vogl, an expert in asset and wealth management and regulatory matters, is the former CEO of Amundi Germany. She previously held senior positions at BNP Paribas Asset Management, Baring Asset Management and HypoVereinsbank, among others.
Weidenbach is a managing partner at multi-family office Auretas, where she oversees strategic asset allocation for high-net-worth clients. She spent more than 20 years in senior roles at DWS, most recently as head of European equities and co-head of EMEA.
“With these new members, the investment advisory board strengthens its expertise in key areas of long-term institutional capital investment. The international perspective and experience with large capital-funded pension systems are particularly valuable,” said Bernhard Kluttig, chair of Kenfo’s board of trustees.
Bergström’s appointment comes as the German government plans to introduce a capital-funded element into the country’s pay-as-you-go pension system, based on Sweden’s premium pension model.
Deutsche Bank and Kenfo are the two organisations identified so far to manage a public default fund, similar to AP7 in Sweden, which would receive contributions under a reformed first pillar.
Kenfo is “ready to take over the management of the capital-funded first pillar”, CEO and chief investment officer Anja Mikus told IPE in an interview.
However, Kenfo announced this week that Mikus will hand over both roles to Daniel von Borries on 1 January 2027.
Von Borries served on the executive board and as CIO of ERGO Insurance Group from 2004 to 2016. From 2016 until mid-2026, he was chief financial officer of Swiss Life Germany, with responsibility for risk management, asset-liability management and actuarial services.
“Daniel von Borries combines extensive capital market experience with proven expertise in managing long-term obligations,” Kluttig said.
