DENMARK - PensionDanmark’s deputy chief executive, Niels Fink, has left the pension fund to become a director in Nordea’s investment management department.
Fink left PensionDanmark after 10 years at the company which has €6.3bn under management. He left at the end of last month and wasn’t directly replaced. He will be working in Nordea’s institutional clients department.
While Fink will still focus on asset allocation – the centrepiece of his career for 15 years – he is excited about “moving from one side of the table to the other.”
“There are currently very interesting changes at Nordea,” he told IPE. “These include a strong team, new partners and developments in the absolute returns area, amongst others.”
PensionDanmark’s 475,000 members are employed in 35,000 public and private companies. While the fund expects pension contributions to rise to €1bn in the next few years, it believes its assets under management will top €13bn by 2010.
Earlier this week Nordea signed a €240bn global custody deal with the Bank of New York.