Denmark’s statutory pensions giant ATP is losing a key leader as occupational pensions firm Velliv poaches chief risk officer Kim Kehlet Johansen to replace the chief executive officer it sacked early this summer.

Velliv, which had DKK325bn (€43.6bn) of assets at the end of 2022, announced yesterday its board had elected Kehlet Johansen – currently executive vice president, risk and compliance, and CRO, at ATP – to the position of CEO.

Anne Broeng, chair of Velliv’s board, said: “We have been through a thorough process with a great many qualified candidates,” adding: “We now have someone with an extremely strong business, professional and personal profile.”

Broeng said Kehlet Johansen understood how to create business and results from his career at SEB and ATP and was a top actuary with a lifetime career in the pensions world.

“As a person, I can say that he is a team player who can both listen and make the necessary decisions in a way that creates respect,” she said.

Kehlet Johansen is to start work at Velliv on 1 March 2024 at the latest, taking over from Morten Møller, Velliv’s chief compliance officer who has been acting CEO following the firing of Steen Michael Erichsen nearly four months ago.

Kim Kehlet Johansen at Velliv

Kim Kehlet Johansen at Velliv

Erichsen lost his job after 15 years in the top role after the board disapproved of a private investment decision.

At the DKK687bn pension fund ATP, CEO Martin Præstegaard said there had been few people who had helped shape ATP over the last five years to the extent that Kehlet Johansen had.

“With great energy, vision and professional insight, Kim has been at the head of risk management across ATP and for Risk and Pensions in Pensions & Investment – and he will be missed by many colleagues in ATP, just as I will personally miss him in the group management and as a sparring partner,” Præstegaard said.

“Kim has had a great impact on the ATP business in several ways; most recently, he has played a fundamental role, putting a huge effort into changing the actual business model of ATP Lifelong Pension, which will create better pensions for our members over the years,” the CEO said.

Kehlet Johansen described Velliv as an “exciting, genuinely customer-owned and commercially-run pension company” which he said he looked forward to leading.

“I particularly appreciate the strong values at Velliv and the ownership via the Velliv Association, where the profits go back to society and to the members,” he said.

Kehlet Johansen started work at ATP in October 2018. Before that, he worked at SEB Pension from 2011 onwards, then was CRO at Danica Pension for a few months in 2018 after Danica took over SEB Pension.

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