DENMARK - Denmark's biggest commercial pensions provider - Danica Pension - has lured Per Klitgård away from the top management post at smaller rival SEB Pension.

Klitgård will take over as managing director. Henrik Ramlau-Hansen vacated the position earlier this month, when he became CFO at Danica Pension's parent Danske Bank.

Peter Staarup, chairman of the Danica Pension board, said: "Per Klitgård has a broad, competent background in the industry, where he has proved he is both a visionary and capable leader. At the same time, his profile matches our culture and core values."

SEB Pension has already filled its vacancy at the top, appointing Peter Nilsson as managing director. Nilsson is currently managing director at SEB Life & Pension International.

Since 2004, Klitgård has been MD of SEB Pension, Denmark's fourth largest commercial pensions company, and the Danish pensions arm of the North European banking and pensions group SEB.

Before that, he was group director at Codan Forsikring, which became SEB Pension after the takeover by the SEB group in 2004.

Prior to his Codan Forsikring role, Klitgård worked at Alka Forsikring and PenSam.

He has an MSc in actuarial mathematics from Copenhagen University.

Klitgård said Danica Pension had a strong position in Denmark and the north, and that he anticipated developing this further.

Danica Pension said Klitgård would begin work after a detailed agreement had been drawn up. Jørgen Klejnstrup will serve as acting managing director in the interim.