Alecta selects Peder Hasslev as its new leader

Alecta, Sweden's largest pension fund provider, has located a new CEO to succeed former leader Magnus Billing, who stepped down from his role in April after Alecta suffered large losses as a result of three U.S. bank crashes.

Peder Hasslev, who currently serves as CEO of Saminvest and is chairman of the Danish pension company PFA Pension, will take office as Alecta’s new CEO on Sept. 1.

“Becoming CEO of Alecta is a very exciting and honorable assignment,” said Hasslev. “Alecta has delivered high returns and made pension savers happy and secure for many years. The most important thing right now is to restore the confidence of the customers so that Alecta can continue to create great customer value. I also look forward to developing the organization together with all the competent people who work at Alecta today.”