The Netherlands' APG Asset Management has appointed Allan Polack as a member of its Supervisory Board to serve as its chair.

He succeeds Knut Kjær, whose second term ended earlier this year, with the appointment set for an initial period of four years.

Polack has more than 40 years of experience in international asset management and pension services.

Since 2022, he has served as a non-executive member of the Board of Directors of Danske Bank., while from 2015 to 2022, he was CEO of PFA Pension.

He began his career in 1985 at Nordea, serving as CEO of Nordea Life and Pensions between 2002 and 2008, followed by his role as CEO of Nordea Asset Management from 2008 to 2015.

From 2016 to 2021, Polack was a non-executive member of the board of the French asset manager La Banque Postale Asset Management.

He has held various other positions, including a pension advisory role with the global asset manager BlackRock and a board position with the European Fund and Asset Management Association.

Polack’s appointment has been approved by the regulatory authorities.

Earlier this year, Knut Kjær and Bart le Blanc stepped down as members of the Supervisory Board of APG Asset Management after serving eight and 16 years respectively.

“With Allan Polack, we welcome a highly experienced and knowledgeable member to the Supervisory Board of APG Asset Management,” commented APG Group NV CEO, Annette Mosman.

“Throughout his career, he has gained extensive expertise in financial services, asset management and pensions, in both executive and supervisory roles. We look forward to a successful collaboration.

“At the same time, I would like to take this opportunity to express our sincere gratitude to Knut Kjær and Bart le Blanc, who stepped down from the Supervisory Board earlier this year, for their valuable commitment and their appreciated contributions over the past years.”

---