Skandia raids AP1 and AP3 for asset managers

SWEDEN – Stockholm-based Skandia Liv Kapitalförvaltning, the asset management division of banking group Skandia, has appointed Bo Ljunglöf as a portfolio strategist and Kristian Nammack as head of external asset management.

Both join from Sweden’s national pension funds. Ljunglöf was formerly deputy managing director of AP1, the first national fund, while Nammack joins from the third fund, the AP3.

Nammack has fifteen years experience in the international asset management business, having worked previously at both Merrill Lynch and Sanford Bernstein.

Malin Björkmo, head of Skandia Liv Kapitalförvaltning says: “current market conditions make it especially urgent for us to defend our market position. We are especially pleased to welcome people with experience in the pensions market.”

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