Swedish pension provider Alecta has announced its CEO, Peder Hasslev, will retire in the autumn of 2026.

Hasslev took up the role of CEO on 1 September 2023, following the departure of Magnus Billing in April 2023.

Billing was relieved of his duties following losses of SEK 19.6bn due to the collapse of three American banks the pension company invested in.

In his career, Hasslev has served as CEO of state-owned venture capital company Saminvest AB and chair of the board of Danish pension company PFA Pension. In addition to this, he has held senior positions at AMF and SEB Asset Management.

Commenting on his departure, Hasslev said: “It has been three intense and challenging years. Thanks to excellent collaboration with the board and the organisation, we have implemented an improvement programme that is firmly established in the organisation. It feels like the right time to hand over to someone new who can take this forward.”

Adding to this, Alecta chairman of the board, Magnus Hall, said Hasslev has done an “outstanding job”, together with the organisation, in developing and implementing a large number of improved measures that make Alecta stronger and more secure for its customers.

The recruitment for a new CEO has already begun, and Alecta’s Board of Directors will conduct the process with an external recruitment company.

“Now that Peder has announced his retirement this autumn, we have begun the recruitment process to find a new CEO, either from within or outside the company, who can build on this and further develop Alecta,” Hall added.

---