New Danish pension fund P+ – the result of the recent merger of the lawyers and economists’ pension fund JØP with the engineers’ scheme DIP – has created the new top role of chief financial officer to manage the increased amount of regulation and compliance it faces.
Mads Stougaard started the new position on 1 January, having been promoted from finance manager, P+ confirmed.
The Copenhagen-based fund told IPE the role of CFO had been added to deal with the increased amount of regulation and compliance. The appointment was made based on Stougaard’s vital role in the merger between DIP and JØP, which were officially transformed into the single pension fund P + in November, a spokesman said.
Søren Kolbye Sørensen, chief executive officer of P+, said: “Mads Stougaard has repeatedly shown his worth for our business, most recently in connection with the merger, and the promotion to CFO is a recognition of his great and tireless efforts for P+.
“Because of the assignments of recent years and Mads’ long history in P +, he has a very broad and thorough insight into our pension fund, and I expect that he, as CFO, will continue the good work of creating positive change for our members,” Kolbye Sørensen said.
Members of both DIP and JØP at the end of April 2019 voted overwhelmingly in favour of merging the two pension funds, which had been cooperating closely over the last few years, sharing an investment department since 2013.