Sweden's AP1 fund chairman to retire

SWEDEN – The SKr134bn (€14bn) Första AP-Fonden (AP1), the first Swedish national pension fund, is to have a new chairman in the New Year, as current chairman Lennart Nilsson is to retire in January.

Nilsson, who has been chairman of the pension fund since 1996, said he wants to spend more time with his family, among other reasons for his departure.

A spokesperson for AP1 said there was no animosity or controversy behind the move and that a replacement has yet to be named.

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